All Forum Posts by: Beau Fannon

What to look for in a good broker?  I was just asked this question and I feel like I flubbed the answer.  In your opinion, what makes for a good broker here in Austin, Tx?

Dude, I'd rent a place while you figure out which part of town you prefer. Austin's neighborhoods are fairly diverse. North of 183 is basically South Dallas suburbs. The east side is cheaper and gentrifying quickly. Just north of UT are a bunch of old school homes. Out west has the prettiest scenery and typically the worst commutes depending on where you work. I like the vibe south of the river. Although if I didn't have a family, living downtown and high-rise condo sure would be tempting.

I dare say that most of us on here are also on that Facebook group.  It's just another tool for communications. Add it to your repertoire and get to know the people. You'll find some of the people on that Facebook page are hacks and others are legit.  Austin is a small town.  After a while, you'll know who provides valuable Intel and who blows smoke. 

House hack. The Bigger Pockets forums are full of success stories.

Meredith, my background is in accounting and finance. I'm not a CPA but I'd be happy to answer any questions you may have and I'll gladly share my tax strategies with you. 

What's your timeline?  I've got a guy but he's booked until Christmas. 

Hmmmm.... Add a profile photo first. Don't want to have a beer with a spam bot.

It depends. How hard are you wanting to work on this endeavor?  Bank loans are the easiest option if seller financing isn't available. Hard money can be...hard. 

 What's your definition of a "small fee"?  My guy in Austin ain't cheap IMO.

I did mine via snail mail and phone calls with the SOS. They are by far the most impressive government operation I have ever worked with. We've set up LLC's in multiple states over the years and Texas is the best. For a single member LLC or husband/wife multi-member LLC, the DIY approach is acceptable in my opinion. The tax paperwork for the single member LLC is super easy. The multi-member LLC tax paperwork is more complex. If one were to setup a multi-member LLC with a group of people they aren't married too, I'd absolutely recommend using an attorney and a bookeeper who has experience with multi-member LLCs.