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27 June 2024 | 14 replies
Until you work out the bugs in your sysyems and procedures.Or, if you invest farther away, do a personal, physical (not Zoom) walkthrough of the property before you sign off on it.Surprises and out of state investments, don't make good bed fellows.
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27 June 2024 | 3 replies
Hiring a Manager: Decide whether you'll manage the property yourself or hire a property management company.Tenant Screening: Develop a tenant screening process to find reliable renters who meet your criteria.Legal and Tax Considerations:Legal Structure: Consider forming an LLC or another legal entity to protect your personal assets.Tax Implications: Understand tax deductions available for rental properties, including mortgage interest, property taxes, and depreciation.Networking and Education:Real Estate Forums: Participate in forums like this one to learn from experienced investors and ask questions.Local Real Estate Groups: Join local investor meetups or associations to network with professionals in your area.Continued Learning: Attend seminars, webinars, or workshops to stay informed about real estate investing strategies and market updates.Starting with a rental property while keeping your condo as an investment is a great way to begin building wealth through real estate.
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26 June 2024 | 3 replies
In total we will have 1 LLC and two separate trusts.All that said, I guess my questions are as follows:-We need to set up an operating bank account for renovation work for our new property, should we set this up through the trust, through our existing LLC or just pay using our personal accounts?
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25 June 2024 | 35 replies
You keep going on about why this lady doesn't work and if she was a good person she should have a job.
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26 June 2024 | 1 reply
Personally, I find my deals on the MLS (in CO, IN & FL).
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26 June 2024 | 1 reply
Don't stop asking until you find the right person for your situation.
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24 June 2024 | 6 replies
The market here is pretty tight knit and the activity in those groups is a good way to get your foot in the door to those relationships.
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27 June 2024 | 5 replies
I also called Maricopa county office and they mentioned that ususally whenever legal service is done, the documents are sent to the address of the person/business first even if they are out of state, before they are sent to the statutory agent.
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24 June 2024 | 2 replies
You are already jeopardizing your relationship by presenting what they think is a low offer, but they are clearly in need of a sale.
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28 June 2024 | 46 replies
I'm gonna play a small hand and see if I can get a counter offer accepted for the 2 empty lots next to my personal home.