All Forum Posts by: Alex Verdugo

I know there are certain things that I need to bring with me to my firat meeting with a lawyer to set up an LLC. I'm just wondering what all the things are i.e. a business plan (and what does that look like), name for the business, a check, etc.

I'm also in Arizona and not sure if that makes a difference.

I have been educating myself for the last couple years. Reading books, doing comps, driving around and looking at properties, going to REI meet ups, etc. I've also been working on getting my credit score up. I was doing really well with improving my score but then some medical expenses and student loan issues dragged it back down. I think I've gotten as far as I can and now it's time to pull the trigger and just purchase some thing, even if it's the wrong thing. I have the feeling that if I don't purchase a property soon, I'll get stuck in either the analysis paralysis or just become obsessed with finding the "perfect propety".

I’m new to investing and I need a lot of help.  I’ve done some reading, research, knocking on doors, making the phone calls, walking the beat, head in the grindstone, can’t sleep at night BS.  I’m ready for something different.  Unfortunately all the AZREIA meeting I see in the Tucson area are always held at night or on the weekends, times when I work.  I would like to meet up, either individually or as a group just to discuss what’s going on in real estate and to pick you brain like a zombie so I can gain your knowledge.  Lol. But seriously, I want to know what you know.  I’ll buy the coffee, beer, hookers ( not really).

It’s always great to fine another investor in or from the Tucson area. I’m sure that having lived here for a while you know exactly the appeal that Tucson draws.  I’ve done quite a few “running the numbers” profiles on various properties that realtors send me so I can become familiar with the process.  I want to know that I can get a certain amount of rent for the unit and make sure that my family will be taken care of in the future.  But I digress.  I’d be happy to share what limited knowledge I have with you to help you along your way and at the same time helping me to reach my goal.  Feel free to message me whenever. 

I'm looking to start my investment career with a multi family complex, 3 - 4 units in the Tucson Az area. I interested in suggestions about whether or not I need to have an LLC for investment before I buy or can I purchase it under my name and move it to an LLC later? What are the risks involved with having it in my name vs the LLC and how soon after purchase do I need to make the switch over? Thanks for helping, I really appreciate any comments and suggestions.

Congrats on being so close to getting into your first deal.  I’ve been working on finding my first deal and educating myself for about a year and a half.  I’ve had a few deals get started and unfortunately for one reason or another things just haven’t worked out.  I keep going by knowing that now matter how long it takes for that first deal to go through, I’m one day closer to it.  It’s been a long winding road but stay on it.  Soon enough that deal will reveal itself and your life will surely change.  

Best of luck and happy hunting.

That's awesome. I'm currently learning as much as I can to get to purchasing my first SFR or multi family. Glad to hear about the people it Tucson doing well.

Everybody has horror stories.  I used to work in a tattoo shop and I have some pretty bad stories to tell.  The thing is, on a day to day basis, things usually run real smooth.  I’m sure once things get up and running, you’ll be fine.

I think you’re missing $350K. $950k - your $100 k fee for making the deal - the $500k to the sister and you still have $350k left over. Cause if you don’t want it, I’ll gladly take it off your hands. 

I’ve been looking for multi family’s in Tucson as well.  There’s a lot out there and I’m sure you’ll find something soon.  I have yet to make my first buy but it’s getting close.  Good luck.