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1 September 2024 | 8 replies
Well, okay a bit of an exaggeration, but they are distinctly different skill sets.The problem is you believe you've already achieved and I'm not sure you could tolerate someone else being the brain of the operation.
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29 August 2024 | 10 replies
With $80,000, you have an abundance of options to consider as potential asset classes in real estate investing, so at this point I recommend trying to determine your ROI expectations AND your risk tolerance for this $80,000.
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29 August 2024 | 6 replies
The answer to this question will take into account your mother's goals on how the money needs to work, transition plans in the future, risk tolerance, asset segment preferences (retail, industrial, MF, self-storage, etc.), and many other factors.
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28 August 2024 | 22 replies
It's all about your own situation and risk tolerance.
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26 August 2024 | 8 replies
Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.
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26 August 2024 | 34 replies
Know folks who are getting way higher, I just don't have that risk tolerance and/or don't know those people to lend to.
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23 August 2024 | 4 replies
It depends a lot on the asset, the cash flow it generates, and the risk tolerance.
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22 August 2024 | 3 replies
Start with a strategy that aligns with your goals and risk tolerance.
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25 August 2024 | 23 replies
However I have little tolerance for knuckleheads that plow ahead not having a clue what they are doing.Buyers point of view.
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21 August 2024 | 1 reply
For a Lead Safe certificate (which shows that lead dust levels are within tolerances and has to be re-done periodically, as opposed to Lead Free, which shows that there isn't any lead to worry about and doesn't have to be renewed) almost all scenarios can be remediated by cleaning or repainting (followed by cleaning, of course).