Hi BP's,I'm an out-of-county investor, in the process of purchasing a property in PA.Closing is in two weeks from now, and I'm not sure if it's better to form a new LLC in PA (and if I have enough time to do that)or if it's better to use an existing one I have from a different state (I have one in OH and one in IN).What would you suggest?

They shared a pro forma that looks good and seems to play out well.

One of the most valuable and important things you can do is to understand the industry vernacular and how it is applied to a real estate asset.Feel free to DM me and will send a few pro forma snap shots.

Not knowing what you don’t know can be very expensive.Understanding building systems, mechanicals, and how to analyze asset condition is as important as analyzing a pro forma from a financial standpoint.

That honestly seems like an easier way to form a solid team.

Following the site I know it teaches to form a llc to have all your portfolio listed underneath for legal purposes but I don’t know how it worked with if the financing could go in the llc name as well

- disparity between actual return vs pro forma return. - syndication objectives: are they monthly cash flow oriented or large sums once in a while?

They are also helping me with the steps to form a partnership/ LLC for the next investment property purchase which will be apartment complexes.

Even in my short time doing this I have already learned about the overinflated pro forma information that brokers like to send.

My plan will be to flip this one as well as a commercial deal, once new tenants are in at market rents, estimated valuation is around $620,000 on a worst case scenario, with pro forma rents being lowest for that area.