All Forum Posts by: Tyler Austin

Hello Everyone!

First of all I understand some may not, if anyone are Accountants, and cannot give any actual legal advice... Legally. But Generally speaking here it is.

I know many of you have multiple properties and some even outside your state. Most of you probably even have more than one business. Hopefully some of you are like me and primary job makes you move around.

My question is, how did you or do you structure your business? I own a few websites for what is a niche style business. I also do marketing for a company and plan to expand that, and I am getting into real estate investing.

What I was thinking was an S-Corp, then a DBA for my niche business , a DBA for a Marketing Business, and a DBA for my real estate (3 properties for each DBA). I believe if I got sued on a property, the DBA's could all get sued since they are under the same s-corp is this right?

I move around and that is the issue, I am a legal resident of Florida, and that is where my license is through. I planned on making s-corp through Florida state, and the DBA's but I am not sure how that works business taxes wise when I live out of North Dakota presently. Do I need to re-apply for each when ever I move states?

Any advice or guidance would be appreciated!

So, I am looking at getting my first rental property. I decided to go in Jacksonville, FL.

I understand adding insurance and everything into my figures, but what about unexpectd costs? 

It is a duplex, but only one side is for sale. I am still looking at other properties but I will use this one for my example. Here is the details.

The property is 109,000 asking price. 

Mortgage is $600

I can get about 1050 For Rental

That is a cash flow of $450.

How do you account for the unexpected costs? Do I just make a differant back account and put $50 in it each month incase the stove goes out or somthing? But that is not enouph. I do not plan on using my cash flow, and I will just put it in savings anyway for more property later. 

I have not looked into insurances in that area yet either, is there a certain insurance you need as a property owner that is renting out? 

Utilitites will be the renters responsibility.

I hope that was not to confusing. 

Also, If anyone is in jacksonville, Florida area or purchased there before, I would love to hear from you!

@Brett Synicky my pleasure, and thanks a lot I am glad to be here and I have been looking at the keyword planner trying to figure it out. 

Hello Everyone! 

I am glad to say I am a new member of BiggerPockets. I have learned a lot already from threads through google, and decided to become a member! 

A little about me:

I am 22 Years of age, Male and I am married with two Beagles!

My current career is with the US Air Force , which I have been in for just over 4 years now.

I have been looking at investing in land since I was stationed in Alaska. Since I was young I wanted to live there. I was not in the right stages to do so though.

I am now in Minot, North Dakota where Real estate is in a crazy situation. 

I look forward to learning with and from all of you!