All Forum Posts by: Andy Crawford

@Costin I.

Thank You!

@Costin I.

Much Appreciated!! Nice visual on this topic, thanks!!

@Marcus Auerbach

I appreciate it, I’ve been binge listening to BP podcasts for the last month. Valuable information!

@Michael Ealy

Thanks Michael, the logic makes sense!

@Kris Wong

It’s a mind boggling topic, different responses and different perspectives on the issue depending who I ask.

I’m working on getting this first deal closed in 3 weeks. Just new investor nerves!

I see you have some properties in Cincinnati?

@Michael Ealy

I appreciate the feedback. I’m waiting for my EIN and then plan to open a bank account for the llc to indeed keep my accounting straight. Cab rents, deposits, and property expenses all be kept in this 1 bank account?

Also, I like the idea of privacy with land trusts. Can I use my children as the trustees?

@Kris Wong

I appreciate the feedback as I am learning the process. I’ve filed for my llc through Legal Zoom and definitely feel I’m going to need to advise a real estate attorney.

@Joe Villeneuve

Thanks Joe! Makes sense! Appreciate the feedback.

@Joe Villeneuve

Thanks for the reply, can you explain more about leveraging?

I'm closing on my first SF Rental Property in the Cincinnati area. I've filed for my first LLC and plan to quit claim deed into this entity after the loan closes.

I’m planning on buying at least 3 properties by year end and more ongoing in the future if possible.

I don't understand the best asset protection strategy. Some say sufficient Umbrella Policy and group a few properties under same LLC. Others say Individual Llc's for each rental.

Tax time would be cumbersome and expensive filling multiple returns.

Any suggestions for a newbie?