All Forum Posts by: BA R.

This also makes perfect sense and is sort of what keeps coming to my mind. The guy I bought the house I just sold from had it all in his name.

Hmmmm... Good advice. Thanks

I've been reading every thing I can get my hands on, designed to educate the  completely new and know nothing  inexperienced "dummies" like me, for over a year now.  I LOVE amazon reviews! I HAD my BIG failure and boy did I ever royally mess that one up! NOT taking any chances this time. It is pure over kill to the point of  a reasonable expenditure  limit of available funds to do this versus until I hit diminishing returns on cost.of layers and every thing else that will eventually be involved. Anal would be the appropriate word to describe me in this. 

At present I am TENTATIVELY planning on setting up a 2 or 3 trust as members with 1 or 2 as a manager or co-managers with MAYBE 1 natural person and a registered agent for address. One source says put the property in an LLC and have the llc be a beneficiary, ( I want to say that came from " financial self defense" by Hillel Presser) One source says put it in a trust and connect it to LLC. ( bigger pockets page?) The devil is in the Details.....

Other then that,  as I acquire properties, each will have 2 llc's , one as a holding company for assets and one as operational. I  have not really made up my mind yet. Part of the details I will HAVE to get an attorney for since in the long term estate planning portion of all this, I  am accommodating  special needs trust issues and a family trust. Right now , the immediate focus is on making sure I get the details right  to set up layering the property I plan on closing on  this week.

Any suggestions , comments, experiences, even countering opposing viewpoints with a why as to your viewpoint would be MOST GRATEFULLY APPRECIATED! Thanks

THANK YOU!!!!!!!!

Every once in a while I get this "offer" from Al Aiello to buy into his program that supposedly generates a 121 page LLC articles to include all kinds of contingencies to make sure it is protected on every level possible via the LLC. Now I'm NOT about to buy this over priced software from some internet guru, but it does make a good point. Does any one know of a post or book that covers the same sort of details/ items. Hoping to close on first property this week and while I know lot of folks say I don't have to do this right away I want to get started on it since I'm shooting for 3 - 5 properties this year. I've already shook hands with Murphy and I'm not giving that turkey another shot,. I have way to much riding on this to not get that ball rolling. Yes, I understand there is more to it then just the LLC aspect but I have to start some where and LLC is as good as any place/

 This is why they will always be tenants.

Yeah, he might. I'll PM him. Thanks

Can some one  in the Wichita Falls area that is a member of the NTRPA  tell me how often they have meetings etc? 

Tim Herriage

I don't know if this is the right place to ask this but since your in the business, what exactly do hard money lenders look at when some one is just starting out?

I'm looking at being owner occupied and if it is a SFR, rent out rooms to make payments, generate more cash flow etc. Would not mind going hard money as long as I know I can make the payments on time in a O/O rent and hold situation.

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