All Forum Posts by: Bruce Froman

All bills paid- cable, wifi, water, trash, electric and gas. His previous renter was paying $800 and it looks to be in line with comps. We are planning on renting the property. Thanks for mentioning assessments, hadn't thought about that.

Looking at a condo in the downtown area, tried seller financing to no avail, due to relocating logistics. Studio condo, 500 sf, HOA of $356(all bills paid), amenities include on-site fitness, sauna, covered parking, laundry on same floor, pool, basketball/tennis court, and fully furnished. The seller is asking $42k and we would only be able to do conventional financing. Probably $5k down, could do more, but unsure we want to use up more capital. Thoughts? Suggestions? This would be our first venture in the REI world. Any advice would be appreciated. Thanks.

Thanks, Marcus. That's kind of what I was thinking. But then of course they told you all these tragic stories and statistics. Hah 

I just listened in on REIClub's Al Aiello's "LLC Master Machine Asset Protection" System webinar, He has set up a 121 page LLC contract to keep members 100% private and protected from basically everything and everyone, set up in Wyoming (not Nevada like we've tried to be sold on), and includes documentation like min. of meetings, member certificates, operating agreements and resolutions, all documented and ready to go. Plus some additional education/documents like POA letters, how to set up a c-corp within your LLC as 2% for additional tax savings and how to make all previous classes deductible before you own real estate. This also includes setting up your LLC minus state fees.

"All for the low cost of $895".

If you could have invested that money to know these things beforehand, would you have? Is this a steal compared to how much some of you have spent setting up your LLC?

Nate Garrett Thanks for the info! We'll know more later today on this potential property.

@Nate Garrett we just got back from a Fortune Builders seminar in OKC this past weekend. Needless to say, we did not invest, nor did we interview. We basically went to have a tiny vacation and maybe learn a few things. We are looking at all possibilities of REI. We may have a potential rehab/hold or flip with a family members old rental property. Depending on terms we may have our first investment as early as Wednesday.

Thanks @Peter MacKercher !

Just signed up and eager to learn the in/outs of REI! Looking forward to growth here and in the RE world.