All Forum Posts by: Ashli Baldwin

@Michael McLeskey I currently reside in Utah, where the rents are low compared to home prices making cash flowing properties somewhat of a rarity.

@Michael McLeskey thanks for jumping in! 

The LLC we set up this year is not related to our RE adventures but a separate business that my husband started and works in full-time.

We're currently looking into residential properties, and will likely be investing out of state.

@Bill Hampton thanks - I'll be reaching out!

@Lance Lvovsky thanks for chiming in! Seems like I've got a few options already.

Looking for a (remote) tax advisor. My husband and I are planning to purchase our first investment property next year. We also started an LLC this year and need guidance on how to manage well for taxes.

I’m surprised at the lack of good online resources to find a great tax advisor so I’m hoping someone on here has a good recommendation!

Hey Tyler, 

Welcome. I'm new here as well, and have not bought my first property yet, but I'd love to take a stab at answering your questions.

1. I think this highly depends on type of property you're investing in. If you want 3k/month in passive income, maybe you should look into multi-family properties like apartment complexes. IMO renting seems like a better strategy if consistent passive income is your goal.

2. I plan to do this when I purchase my first property in order to protect my other assets in the event something goes wrong.

3. If you want consistent passive income, but also have construction experience, it sounds like you might do very well at buying slightly distressed properties that are good deals, then doing cosmetic fixes, like kitchens and bathrooms, so you can rent it for more.

4. I'm not a professional, but from what I know, you don't need one. It seems like it could be a really helpful tool if you find yourself looking for new properties often, though.

5. It sounds like getting some undervalued homes at a good price, updating, then renting, might be a good option for you.

I hope this was helpful!