Originally posted by @Hai Loc :

I'd much rather invest in Ohio and build out teams remotely so I can live and work anywhere. I'm curious about the Ohio scene. What do you have there and do you self manage? 

 

Originally posted by @Jay Styles :

Originally posted by @Hai Loc:

I'd much rather invest in Ohio and build out teams remotely so I can live and work anywhere. I'm curious about the Ohio scene. What do you have there and do you self manage? 

 

Mobile Home Parks and I do not self manage. That is a no no long distance. If it was 1 or 2 homes maybe..

Originally posted by @Hai Loc :

Originally posted by @Jay Styles:

Originally posted by @Hai Loc:

I'd much rather invest in Ohio and build out teams remotely so I can live and work anywhere. I'm curious about the Ohio scene. What do you have there and do you self manage? 

 

Mobile Home Parks and I do not self manage. That is a no no long distance. If it was 1 or 2 homes maybe..

 I'm very interested in Mobile home parks.

Hi @Steve Basra .

Welcome to BP! I currently invest in Indianapolis. I found it to be a great market. I have a LLC since it protects me from any lawsuits that could occur.

Originally posted by @Christopher Petrillo :

Hi @Steve Basra .

I have a LLC since it protects me from any lawsuits that could occur.

@Steve Basra

how do you get around double taxation if you have your properties in an LLC?

Originally posted by @Eric Delcol :

Originally posted by @Christopher Petrillo:

Hi @Steve Basra .

I have a LLC since it protects me from any lawsuits that could occur.

@Steve Basra

how do you get around double taxation if you have your properties in an LLC?

Hold everything in an LP. From my understanding its a 'flow through' and you pay your taxes on the Canadian side. You MUST file taxes on both sides though.

Originally posted by @Jay Styles :

Originally posted by @Eric Delcol:

Originally posted by @Christopher Petrillo:

Hi @Steve Basra .

I have a LLC since it protects me from any lawsuits that could occur.

@Steve Basra

how do you get around double taxation if you have your properties in an LLC?

Hold everything in an LP. From my understanding its a 'flow through' and you pay your taxes on the Canadian side. You MUST file taxes on both sides though.

 

@Jay, So did you happen to explore more on Mobile homes in OH? I will be back in market in Mar-April timeframe next year and want to ramp up on educating myself.

Originally posted by @Lalit R. :

Originally posted by @Jay Styles:

Originally posted by @Eric Delcol:

Originally posted by @Christopher Petrillo:

Hi @Steve Basra .

I am looking for deals right now.

Jay

@Jay -- Any luck so far?

Originally posted by @Jay Styles :

Originally posted by @Lalit R.:

Originally posted by @Jay Styles:

Originally posted by @Eric Delcol:

Originally posted by @Christopher Petrillo:

Hi @Steve Basra .

I am looking for deals right now.

Jay 

People are asking where should I invest? Here is some tips:

1) landlord friendly
2) employment growth; more than one industry; more than one majority employer
3) crime on the decline
4) population growth
6) vacancy rates
7) access to transportation

Ultimately invest where you feel comfortable. Build out teams to support where you want to invest. There more markets than just Buffalo or Florida.

Originally posted by @Lalit R. :

Originally posted by @Jay Styles:

Originally posted by @Eric Delcol:

Originally posted by @Christopher Petrillo:

Hi @Steve Basra .

I have a LLC since it protects me from any lawsuits that could occur.

@Steve Basra

how do you get around double taxation if you have your properties in an LLC?

Hold everything in an LP. From my understanding its a 'flow through' and you pay your taxes on the Canadian side. You MUST file taxes on both sides though.

 

@Jay, So did you happen to explore more on Mobile homes in OH? I will be back in market in Mar-April timeframe next year and want to ramp up on educating myself.

 

 You should have came to our meet up on Wednesday in North York. I would have told you everything about mobile home parks.. I have some of it recorded if you want to see it

@Steve Basra there are a lot of Canadian buyers looking at Buffalo. They can drive down and see the properties before they buy them and it is an affordable market. Most Canadian buyers investing here use TD bank. They have branches in Canada and NY. The LLC question is up to you and your risk tolerance. Every Lawyer will tell you yes. If you do form an LLC you will need a commercial loan. Some investors buy residential, then kick it over to an LLC (careful of the due on sale clause)

Good luck!

..so i've read some books, attended some lectures, what's my next step?

My advice: partner with someone that's doing it and you'll learn more than any of the above will ever teach you. Plus you'll be a part of the process, have access to contractors, real estate agents/brokers, financing networks and much more.

Baptism by fire. But caveat emptor. Do you research when partnering.