Investment starting in Putnam, Flagler county florida
Tyson RegierPro Member
Member since 2023 · 3 posts · 2 votesInvestment starting in Putnam, Flagler county florida
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Property Manager · Northeast Florida · Member since 2015 · 135 posts · 76 votes
1y@Tyson Regier
I agree with Megan, and would add to her list
Annual fees associated with each llc to keep current/registered with State.
Annual Tax filings costs... To have your taxes prepared for EACH llc - and YES I strongly suggest you have a tax preparer for your taxes, one that specializes for Real Estate investors.
Being a Teacher and self managing your investment home... your w2 income tax burden will NOW be lowered. These properties are going to blow your mind on how you can reduce your w2 income TAX.
I am saying "EACH" llc - because, perhaps setting up just ONE llc for the property management side for all properties. Then add a couple investment properties to be held in title by one LLC together. Some would disagree and say separate llc for each property. You are well on your way tho to wealth building. Thats gotta to feel great and stay the course.
As for funding in an LLC. It's easier than you think. Do some research on DSCR loans
Thank you for your service. Congrats on Retirement! We started late in life but it's pretty amazing to look back and see what we have created in a short period.
1st stream of income Retirement pay ! CHECK
2nd Stream Putnam Property ! CHECK
3rd Stream Investment Property - Sounds like working on that now
Couple that with w2 income... You are ahead of most and on the right path.
My husbands va loan has been a powerful for your investing. Getting in a VA then moving out later and converting it into an investment home. PM if you like. I can chat RE all day.
11 Replies
- Investor · Costa Mesa, CA · Member since 2016 · 1k+ posts · 1k+ votes1y
Welcome, Tyson. Do Florida rentals still pencil out with current insurance rates? I'm considering buying a house in nearby Palm Coast as I travel there for business.
- 1yJulio GonzalezPro MemberSpecialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
Hi Tyson, welcome to BiggerPockets!
- Member since 2023 · 3 posts · 2 votes1y
@Eric Gerakos for my rental, Yes it works. I have a long term rental in putnam county. I will be looking at a mid term rental in palm coast next year. As for the insurance you really have to just shop around and estimate your risk tolerance. I have really good rates with USAA on my primary and citizens is all I could get on my rental. You post makes me want to remind everyone that florida isn't an easy market to enter short term rentals. Most counties have a cap and there are a lot more regulations around short term rentals. For example there is a waiting list.
I live in palm coast... let me know when you're in town.Tyson
- Wholesaler · Jacksonville, FL · Member since 2015 · 5 posts · 0 votes1y
Quote from @Tyson Regier:
Hey BiggerPockets Community!
I'm Tyson, a recent Army retiree turned teacher, and I'm excited to be part of this community. My real estate journey started with a single investment property in Putnam County, Florida, and I'm actively working to expand my portfolio and acquire my next property soon. I'm particularly interested in connecting with other investors in Florida and learning from your experiences.
One topic I'm keen to explore is the pros and cons of holding properties under an LLC. I'd love to hear different perspectives and insights on this.
On a personal note, I'm a husband and father of two. Looking forward to networking, learning, and growing together!
- Wholesaler · Jacksonville, FL · Member since 2015 · 5 posts · 0 votes1y
Im an investor in southern il metro east area,looking to invest in st johns county possibly flagler county mainley rehab and flip we will be in the area in march do you have any recommedations on what areas is a good flip area
- Real Estate Agent · Memphis, TN · Member since 2024 · 250 posts · 71 votes1y
Welcome to BP, and thank you for your service.
There are a lot of benefits to an LLC, here is my break of it;
1. You will get that liability protection - If someone sues you on the property - your personal assets are protected only the LLC is at risk.
2. Helps protect personal finances/accounting, etc.
3. LLCs are typically pass-through taxation
4. You can set up an LLC to make transferring the property to heirs easier, avoiding probate
5. Multiple investors can share an LLC - so easier partnering
Issues with an LLC( not huge "issues") ;
1. Financing can be more difficult to obtain ( Although not impossible)
2. If you are transferring a property into an LLC under a loan, the lender could technically call the loan. (This is rare)
3. The costs of starting an LLC vary depending on the location
I personally think putting your investment property in an LLC is a great move for protection.
I hope this helps you out! - Property Manager · Northeast Florida · Member since 2015 · 135 posts · 76 votes1y
@Tyson Regier
I agree with Megan, and would add to her listAnnual fees associated with each llc to keep current/registered with State.
Annual Tax filings costs... To have your taxes prepared for EACH llc - and YES I strongly suggest you have a tax preparer for your taxes, one that specializes for Real Estate investors.
Being a Teacher and self managing your investment home... your w2 income tax burden will NOW be lowered. These properties are going to blow your mind on how you can reduce your w2 income TAX.
I am saying "EACH" llc - because, perhaps setting up just ONE llc for the property management side for all properties. Then add a couple investment properties to be held in title by one LLC together. Some would disagree and say separate llc for each property. You are well on your way tho to wealth building. Thats gotta to feel great and stay the course.
As for funding in an LLC. It's easier than you think. Do some research on DSCR loans
Thank you for your service. Congrats on Retirement! We started late in life but it's pretty amazing to look back and see what we have created in a short period.
1st stream of income Retirement pay ! CHECK
2nd Stream Putnam Property ! CHECK
3rd Stream Investment Property - Sounds like working on that now
Couple that with w2 income... You are ahead of most and on the right path.My husbands va loan has been a powerful for your investing. Getting in a VA then moving out later and converting it into an investment home. PM if you like. I can chat RE all day.
- 1yJoseph BeilkeBusiness MemberReal Estate Agent · Palm Coast, FL · Member since 2018 · 363 posts · 243 votes
@Tyson Regier and @Eric Gerakos
As Investor, PM and Realtor in Palm Coast I would love to speak with both of you about the highs and lows on the Palm Coast market. Long Term and Short Term rentals do pretty well he. Mid Term not so much.
As for the insurance question, you have to shop around and make sure you only insure the property not the tenants personal property. This help the rate a good bit. Also new construction is priced very well right now and that too helps the rate.
Would love to connect!
Enkore Real Estate & Property Management4.836 Reviews - Real Estate Broker · Fort Lauderdale, FL · Member since 2018 · 196 posts · 191 votes1y
Welcome to Real Estate!
Hey Tyson, congrats on getting started and welcome to the community. First off, thank you for your service. It is great that you are already thinking ahead about scaling your portfolio.
Since you are a veteran, have you looked into using a VA loan for a multifamily property? If you are eligible, you can buy up to a four-unit property with zero down as long as you live in one of the units. This is one of the best ways to start building wealth in real estate while keeping your upfront costs low.
As for holding properties in an LLC, it is a great conversation to have early. There are pros and cons depending on your goals.
Why an LLC Might Be a Good Move
• Helps protect your personal assets in case of a lawsuit
• Makes it easier to bring in partners in the future
• Keeps your real estate finances separate from personal accounts
Why It Might Not Be the Right Move Just Yet
• Most traditional lenders will not give a mortgage to an LLC, so you may have to use commercial or DSCR loans, which usually have higher rates
• Some people assume an LLC will save them money on taxes, but rental income is still taxed as pass-through income for most investors
• There are extra costs like annual filing fees and bookkeeping
A lot of new investors get stuck on this decision, but the reality is, you can always start out in your personal name and transfer properties into an LLC later.
One more thing I wish someone told me early on is that property management takes more time than you think. Even before I had kids, managing rentals could be a headache, and now time is even more limited. If your goal is to scale, I would suggest running your numbers with property management costs included from the start.
Also, if you plan on adding more properties soon, I would avoid anything that needs too much renovation upfront. Even if you hire contractors, you will still need to manage them, make sure they stay on schedule, and deal with surprises. It is much easier to start with a simple, functional property, learn the basics, and grow from there.
You are on the right track. Keep making smart moves, and you will scale up in no time. Good luck on your next deal.
Disclaimer: I am a licensed real estate broker associate in Florida, but I am not an attorney, CPA, or financial advisor. The information shared is based on my experience and industry knowledge and should not be considered legal, tax, or financial advice. Always consult with a qualified professional before making any real estate investment decisions.
- Lender · St. Augustine, FL · Member since 2015 · 120 posts · 26 votes1y
@Tyson Regier Welcome to the community!
First off, Go Navy, Beat Army!
Now that's out of the way. I am also a husband and father of two living in the St. Augustine area of Florida. This community is great for getting all the different perspectives in real estate and learning from others.
As far as the LLC vs. personal names goes, like everything, there are positives and negatives. This is not tax or legal advice. Yes, there are liability protections in an LLC and if done correctly, can help protect you in the case of litigation. There are also added expenses and financing hurdles to jump through. I would say either can be done safely and successfully. The biggest question is, which scenario helps you sleep better at night?
There was a recent biggerpockets episode where guest Dion McNeely talks about why he DOES NOT own in an LLC. I think it would be worth a listen/watch.
- 1yDavid NilesBusiness MemberProperty Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
Hey Tyson,
Welcome to the BiggerPockets community! First off, thank you for your service, and congrats on transitioning into teaching—what an awesome way to continue making an impact.
My wife, Kelly, and I are in Volusia County, where we run a real estate brokerage and property management company. We’ve also done plenty of flips over the years, so we’re always happy to connect with fellow investors looking to grow their portfolios.
Putnam County is a great market with some solid opportunities. As for holding properties under an LLC, there are definitely pros and cons—it can offer liability protection and tax benefits, but it also comes with additional costs and paperwork, so it really depends on your goals and risk tolerance.
Looking forward to networking and learning together. Welcome again!
– David
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