Looking for STVR Mentor

[Jonathan X Sanchez]

Hi BP Community, 

I'm currently located in Oregon, but have an LLC operating in Arizona for STVR. I'm looking for a mentor (Preferably in either Oregon or AZ, but open to anywhere) that can possibly help me out with some guidance in the beginning? I feel like I have a handle on the entire process, but it also doesn't hurt to see if any seasoned investors can help out.

Thanks!

[Luke Carl]

Best to just start questions here. I have a question. Why do you have an LLC?

[John Underwood]

Quote from @Luke Carl:

Best to just start questions here. I have a question. Why do you have an LLC?

Good question.

Maybe we should figure out how to start selling LLC's, so many people think they need them. 

[Jonathan X Sanchez]

Quote from @Luke Carl:

Best to just start questions here. I have a question. Why do you have an LLC?

To separate myself/personal assets from the business, plus many tax benefits/write-offs for small businesses

[Jonathan X Sanchez]

Quote from @John Underwood:

Quote from @Luke Carl:

Best to just start questions here. I have a question. Why do you have an LLC?

Good question.

Maybe we should figure out how to start selling LLC's, so many people think they need them. 

 Doesn't hurt to have one, and not expensive at all. Low cost for a huge benefit.

[John Underwood]

Quote from @Jonathan X Sanchez:

Quote from @Luke Carl:

Best to just start questions here. I have a question. Why do you have an LLC?

To separate myself/personal assets from the business, plus many tax benefits/write-offs for small businesses

An LLC in itself gives you additional tax benefit.

[Michael Baum]

I think @John Underwood means no benefit. A Single Memeber LLC is a pass through entity, so there really isn't any benefit.

I would love to hear what the many benefits are if there are actually any to be had. Are you filing as a S corp or C corp?

[Mike Hern]

Quote from @John Underwood:

Quote from @Luke Carl:

Best to just start questions here. I have a question. Why do you have an LLC?

Good question.

Maybe we should figure out how to start selling LLC's, so many people think they need them. 

** Best Answer, Lol

[Mike Hern]

Quote from @Jonathan X Sanchez:

Hi BP Community, 

I'm currently located in Oregon, but have an LLC operating in Arizona for STVR. I'm looking for a mentor (Preferably in either Oregon or AZ, but open to anywhere) that can possibly help me out with some guidance in the beginning? I feel like I have a handle on the entire process, but it also doesn't hurt to see if any seasoned investors can help out.

Thanks!

After you watch this video, come back and rephrase your question

What to Know About LLCs with Mark J Kohler CPA, Attorney

https:// www.youtube.com/watch?v=IPsgpn...

 And you should watch this as well

9 Mistakes to Avoid With an LLC

https:// www.youtube.com/watch?v=UYkUOq...

[John Underwood]

Quote from @Michael Baum:

I think @John Underwood means no benefit. A Single Memeber LLC is a pass through entity, so there really isn't any benefit.

I would love to hear what the many benefits are if there are actually any to be had. Are you filing as a S corp or C corp?

Sorry, yes thats what I meant.

[Jonathan X Sanchez]

Quote from @Mike Hern:

Quote from @Jonathan X Sanchez:

Hi BP Community, 

I'm currently located in Oregon, but have an LLC operating in Arizona for STVR. I'm looking for a mentor (Preferably in either Oregon or AZ, but open to anywhere) that can possibly help me out with some guidance in the beginning? I feel like I have a handle on the entire process, but it also doesn't hurt to see if any seasoned investors can help out.

Thanks!

After you watch this video, come back and rephrase your question

What to Know About LLCs with Mark J Kohler CPA, Attorney

https:// www.youtube.com/watch?v=IPsgpn...

 And you should watch this as well

9 Mistakes to Avoid With an LLC

https:// www.youtube.com/watch?v=UYkUOq...

Much appreciated, will check this out asap! I also appreciate all the funny comments lol I'm just trying to learn the game yall, but I understand when I need to get fact-checked lol 

Again, thanks for the help with the videos!

[Leslie Anne Morris]

I bought STRs in my personal name until I was maxed out on conventional mortgages. Now I buy them in an LLC and the hope is to free up some conventional mortgage spots for myself in the future. By buying in your personal name you can get a conventional mortgage, you can't do that in an LLC. Just focus on having good insurance coverage to assist in the event of a liability issue.

[Adam David Graning]

@Jonathan X Sanchez hey Jonathan. Message me with any questions you have. I can help you out!

[Jonathan X Sanchez]

Quote from @Adam David Graning:

@Jonathan X Sanchez hey Jonathan. Message me with any questions you have. I can help you out!

 Most certainly! Thank you Adam

[Mick Hofmann]

@Jonathan X Sanchez You are looking to start an STR in the AZ? Dm me if so. There are a lot of opportunities now with the market slowing down. Everyday I am presented with opportunities.

[Mike Shemp]

Instead of an LLC, you may want to research the benefits of getting insurance with a company that specializes in short-term rentals (there are a few of them out there), in addition to an umbrella insurance policy.

Mike