All Forum Posts by: Aaron Zimmerman

Piercing the corporate veil is dependent on the owner of the LLC. If you commingle funds, then you've already pierced the veil on any LLC, whether it's in California or Texas.

As noted above, there may be an $800 LLC fee. I would look to see if you can structure things in a way that has you as the only member in the LLC.

Congrats on setting yourselves up well. 

For the sake/rent of your current primary residence, you'd want to measure the return on equity. Let's say you can get $1,000 per month in cash flow and your equity is $300,000, you'd be getting a 4% return on equity which isn't super high. You may consider selling to get access to that cash.

Moving around every 1-2 years is a great strategy but you'd need to make sure the house you buy would be a good rental. If not, the live in flip strategy where you slowly improve the property and sell after 2 years living in the property might be the best play for you and your family's lifestyle. 

I'd encourage you to also consider passive syndications if your time is otherwise commited with any excess capital. 

you could network with other investors in the area and purchase a duplex or triplex together and use both your incomes to qualify. The SF prices are very expensive so it is Hard to make the numbers work 

Seems like a great deal to get your feet wet. Do you think you'll be able to refinance with the amount of improvements you're making?

I live in an expensive market and I'd say house hacking is the way. You get landlording experience, maximizing leverage, and ideal reducing your housing expenses. You would need to make sure the investment cash flows or at least breaks even post move out and reduces your housing expenses while living there.

This is a fantastic deal. Congratulations! Have you considered doing short term rental with the other unit?

Mario - welcome to the forums! Thanks for posting. There's a lot of local meetups you could join. I like the Chicago multifamily club, any NBOA event, and Windy City REI. There are many other great events as well.

I'd also listen to the straight up Chicago investor podcast if you haven't already as there's a lot of great content there. 

@Mario Morales - was the water bill actual or estimated? If estimated, you can call the city out there and get an actual reading on a water meter

very nice breakdown of the Chicago market as well as the class a vs class c buildings performance over time with real portfolio data. I will be doing a similar analysis with my portfolio as I have a class c+ 5 unit and class B+ 4 unit. I completely agree on the return on hassle being a factor as well as insurance.

@George Skidis sorry to hear your experience dealing with some municipalities. The suburbs are very local too and there's a lot of rules to be aware with each village/township.