All Forum Posts by: Tyler Durbin

This is going to be a good one...

I'm interested in buying a second home for my mother so she can be close to our family as we expect our first child. She has a primary residence in FL and this home will be in OH. The home on it's own is a great fit within in my current buy & hold investment property portfolio - so it makes sense on its own for me. 

I'd really like to do a partnership deal with her so she can have some ownership in it alongside me and I can put less money down (we will do traditional financing). But given she would be an owner and the occupant every traditional partnership scenario I run just doesn't seem to make it mutually beneficial for us. It works out for me if I am 100% owner and rent it to her though. 

Just curious if anyone has done anything like this or has a structure in mind that may work. Not a traditional deal my any means, but something I'd like to do once for her to have a place near my family. 

Unfortunately, Ohio doesn't have Series LLC. I think the same idea can be executed with a master LLC that acts as a property manager. Though some friends in law have stated concern that the court would look to that structure with some concern as if I was trying to unnecessarily create complexity. All in all, I run really nice properties and have really strong documentation. Just trying to tidy this piece up a bit without creating some unforeseen liability in the process

I have 3 rental properties all in individual LLCs. My intention is to continue to add to the number of total properties over time. Which LLC/bank account structure is best practice?

A) All LLCs have their own bank accounts.

B) A master bank account to handle all cashflow in/out of the group of LLCs (with appropriate breakout accounting).In this scenario, do I need to create an LLC to get a separate EIN for this biz bank account?

C) Create an umbrella LLC that owns each individual LLC and have a master bank account for the umbrella that handles all cashflow in/out?

Looking for a Columbus-based handyman to complete an initial punch list of repairs/upgrades to a duplex and a single family. From there, looking to maintain the relationship for other properties on an on-going basis. 

Simple electrical and plumbing, trim and drywall work, tiling, etc. 

Looking for a Columbus-based handyman to complete an initial punch list of repairs/upgrades to a duplex and a single family. From there, looking to maintain the relationship for other properties on an on-going basis. 

Simple electrical and plumbing, trim and drywall work, tiling, etc. 

Hi all! I've built up some experience completing flips and buying rental units on my own – and now would like to start bringing some other investors into the fold to secure deals on a more consistent basis. Outside of the investment philosophy and business plan ... I could use some help understanding how to setup the partnership and the "fund" to hold the investors money, what legal things need to be in place, etc. 

Imagine a scenario where I have 3 - 5 investors wanting to invest into a potential project of mine. Where do I start?

Thanks all~

Hi everyone ... I'm a few properties in (both flips and buy/hold income properties) and with some nice returns from my first investments, I'm on the road to building a nice financial base to continue investing but want to make sure I'm doing so objectively. 

Have you built a real estate investing philosophy/methodology or business plan that identifies what an investable deal for you looks like, what metrics you use to determine, what you assess. Anything to take the emotion out of investing what seems like a hot deal, but actually may not be. Any help?

Hello all! Looking to update my current network of contractors as I embark on an update of a Merion Village home. New kitchen, 2 baths, flooring, small scale reconfiguration of upstairs floorplan. 

Looking for someone that is do-it-themselves + a team. I have experience in rehabs/updates and plan to tackle some of the work myself (refinishing floors, demo, painting, tiling). Looking to find someone that is comfortable with that arrangement. 

Have several other properties as well ... looking for someone who can be part of additional work moving forward. 

@Kevin Noesner - Love what's happening on the south side. I've been involved with the parson's avenue merchant association and they are working to keep the momentum of the north side of Parson's moving south. Good work. It's just a matter of time. I'd like to do quite a few more deals on the south side in the coming years!

I'm with you @Andy Howell. Exactly what I'm looking for.