Veronica Ivy
When to form a Solo 401k: before, or after leaving a W2 job?
Hi y'all. I'm about to leave my W2 position and basically be a full time professional real estate investor. I am super sold on the benefits of rolling over my 401k into a Solo 401k and then buying rentals with it.
My...
Jonna Weber
Income Requirements for Tenants
Hi BP experienced Landlords - What are your typical income requirements from tenants? I historically have required a tenant's gross income to be at least 3 times the monthly rent, but I'd like to know if there is any...
Account Closed
Wyoming or Nevada LLC’s: Are they really “all that”?
I was told by a CPA and a Real Estate attorney not to put my properties into a Wyoming or Nevada LLC for privacy because if some attorney wants to find out who owns it or to know its members it’s not hard to do so.Any...
Sean Honeycutt
Q: About how PMs handle tenant dmgs and owner repairs
So I've been using this property management firm for a few years now and we had our first real "tenant damage" between tenants (I guess this timeframe is considered turning, not flipping, but if you have a better term...
Abby Weaver
Lease STR property to LLC for operating/property management
Financed my first STR to get 90% loan, so property is in my name (not owned by LLC).Any benefits to leasing personally held vacation home to my own LLC, to help keep business expenses separate from personal & long...
Len Miller
Do i hold it or sell for a loss and move on?
Hello BP community,
I wanted to share a "not so great" experience with you and see how you would handle it. I am a newer investor and purchased my second unit at foreclosure over 18 months ago. Without going into gre...
Mark J.
Advice for Handling Threats from Contractor
<Warning-- Longish Post Ahead>I'm thrilled by the challenges and new learning that real estate investing has brought to my life. It's truly fulfilling on many levels. However, the most consistently terrible aspe...
Jake DeBoer
Occupancy Limits in Grand Rapids
Has anyone else run into issues with over occupancy in GR? I have a 6-bed, 2-bath SFH that I rent to college students. I used to rent to 6 but two years ago was hit with a zoning violation."Did allow more than four (4...
Pat Desenberg
New Investors (in Iowa)
Hello BP Community, my wife and I are excited to get into investing in the Des Moines area. We are currently still in the "education" phase, and are starting to get practice looking at properties (single-family) and ...
Lance Cummins
How should I approach a wealthy family member to be my PML?
Hi BP,I have a wealthy family member in the construction business and I am considering talking to him about possibly being my private money lender.I am looking for advice on how to pitch the idea to him.