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27 March 2024 | 2 replies
@Jay LamGet a new attorneyOf course a LLC needs an operating agreementEven if it’s one person you need an operating agreementIf you go to sell a property in a LLC the title company will need that operating agreement to confirm you are allowed to sign
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25 March 2024 | 3 replies
For the other, it got me almost nowhere (many namesakes, no social profiles, no phone or email or address...).Any tips?
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27 March 2024 | 8 replies
One model I’m seeing investors doing is the rent by the room strategy / padsplit.IF done right, you can turn a single family home to function like a multiplex - increasing the cash flow by double, even triple oftentimes.Has to be the right property of course / layout / characteristics to minimize drama and conflict between roommates / tenants since it’s a longer stay than STR and spaces are shared but with the right set up and systems in place in can be extremely effective and super profitable.You can easily switch from STR to MTR since it’s already furnished and just make a few tweaks.I can definitely help you put some ideas together or connect you with some investors I know doing it in Jacksonville FL.
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28 March 2024 | 27 replies
If you're overestimating numbers and not accounting for the other soft benefits of owning real estate (appreciation, tax benefits, etc) then of course you'll never buy anything.With 25% down on a 2-4 unit, you'll need to be in a B- to C- area to see cash flow day one.
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27 March 2024 | 19 replies
According to online that town doesn’t seem like it’s growing.
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28 March 2024 | 22 replies
oh yeah, and of course, you need to find an attorney that specializes in Notes to properly prepare the documentation
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26 March 2024 | 12 replies
What do you look for when looking at traditional homes online (without having to drive all over and look at a ton of homes that will never work) to see if you can modify the home to make it work for this scenario?
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26 March 2024 | 8 replies
Also any additional tips for this area would be great!
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28 March 2024 | 50 replies
Visually, it really opens up old spaces, and gives a great foundation for tenants to make it their home.Another little known tip: the are dozens and dozens of white colors.