All Forum Posts by: Aaron M. VanVoorhies

Hi everyone! Myself and 5 other friends are pooling some extra cash to start a real estate investment LLC. We were discussing the pros and cons of unanimous voting vs. a majority 4 out of 6 vote. One solid argument was that we didn't want to give one person power to essentially hold back 5 people voting yes on something in the unanimous vote scenario. Then we kicked around the idea of unanimous only on certain decisions like buying or selling a property, but eventually thought it might be best to leave larger scale decisions to a 5 out of 6 vote. Ultimately, we didn't decide on anything (couldn't get the votes), so we figured we'd take to BiggerPockets and see what some past LLCs or small investment groups may have done that worked out. Hope to get some feedback from the great BP community! Thanks!

Hi everyone! Some friends and I are soon investing in a rental property and we're hammering out all the details before our first purchase. As of right now, our plan is to buy a multi-family unit, re-invest all income from that property and invest into our next property. With that said, I have a couple questions. When, in general should we feel comfortable starting to pay ourselves from property income? And also, how much reserve money would everyone recommend having set aside per property owned (for repairs and whatnot)? Thanks for the input!

What is the best way for a group of friends to get a loan for an investment property? We were looking at establishing an LLC but one friend mentioned that getting a loan for an unproven LLC/corporation (not profitable) would be near impossible. Any ways around this hiccup or alternate methods of procuring a loan would be greatly appreciated. Thanks!

@Charles Carillo

thanks for your response! Could you possibly elaborate a little more on how it might protect assets?

What are the financial benefits/pitfalls of pursuing investment properties as an individual vs. a corporate entity? 

Hi everyone,

Kind of a dismal topic (sorry I'm a total novice in real estate investment),  should people be anticipating evictions and foreclosures once the dust settles from the COVID-19 pandemic? Will there be some sort of "mini-crash?"

Thanks guys. Really great info. I know one of my buddies was looking into which state is best to setup an LLC in. We're looking at Nevada. I also think Henderson might be a great place to start. Lucky I live here. Wouldn't be opposed to a long distance investment, but having it close seems like it would be immense peace of mind.

Hi everyone! I'm very new here and am just dipping my toes into the world of investment real estate. I have literally no experience but I'm hammering through Brandon Turner's Book on Rental Property Investing and it's super intriguing. So much to the point that I started a discussion among a couple buddies and myself. After a lot of serious talking we all decided that this is something we'd like to pursue. Then came the subject of partnership. As of now, I've got two very close buddies (also with no real estate experience) who are committed, but I was wondering if I should approach more people for finance reasons. For example, if myself and my current two friends who are interested can only invest 5k cash into our venture, would it make sense to ask more people to get in on the plan? If so, how many friends (and they will be close friends I trust completely) would be a good amount to approach? What level of involvement should people have? Should I look for people who might be willing to invest more in exchange for less involvement (kind of like silent partners)? Again, I'm just getting into all this so I don't even know if this is a topic I need to think about right now. Just looking for some advice. Thanks everyone! I look forward to learning a ton from this site!