Hello everyone. I'm looking for a local to correspond with as I'm in Southern California. I'm very interested in the Fort Wayne area, but since I can't be there, I'm hoping I can find a local that can discuss with me the areas to avoid and areas to invest in Fort Wayne. Please PM me if you would like to volunteer and I will provide you with my email address. I will be very grateful.
Hi @Cosmo Lee , I do not have much to say about the ins and outs of Forth Worth, but keep in mind that if you hold your Texas properties in an LLC (even a wholly-owned LLC), you may be subjected to the Texas Franchise Tax. Texas is one of the rare states (as you probably know California is one of them too) where owning a wholly-owned LLC, though it is disregarded for federal income tax purposes, can have state tax implications. Good luck with your investing!
He said Fort Wayne, which is in Indiana, not Texas, just for clarification.
This is a pretty vague question. What are your goals? Are you wanting low-risk with lower returns or the opposite? Established areas, developing areas, redeveloping areas? What kind of tenants are you okay with dealing with? An area is only bad to invest in if it doesn't fit your criteria.
I know people who invest in the "hood" and kill it and others who invest in the higher middle class areas and see small returns but have tenants there for over a decade. It all depends on what you're looking for.
Oops, for some reason my brain processed it as Fort Worth. Cosmo, I have a client who owns about 20 or so units in Fort Wayne. Feel free to PM.
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