All Forum Posts by: BHASKAR RAO

Hi Alejandro

Getting started as a real estate investor brings about a lot of questions and concerns about staying safe and protected while putting your skills and money to good use. First and foremost is to get educated. Read as many books as you can especially the ones from Robert Kiyosaki and Ken Mcelroy, they have whole chapters dedicated on asset protection. 

This is what I have learnt so far and how I do it on SFRs ,these are not in order of timing but of personal importance/rank in order:

1. The first step to asset protection is to follow codes and be uptodate on your property and not to cut corners. I got a good Property manager who follows the law to the book and is uptodate with building codes and regulations. Remember getting a insurance policy and forming an entity will not protect you from criminal negligence.

2. Next I get insurance on my rentals. I get hazard insurance with a $1M personal liability to protect me and my PM.

3. Finally I form an LLC and have my attorney transfer the title of the property into the LLC and I learn from my attorney how to operate it and run it so that the veil of the LLC is not pierced.

Hope it helps and good luck in your investments

Bhaskar

Hi Carol, social media unfortunately brings criticism from people who have no idea or education in relation to the industry. It is easier for small time internet trolls/ losers to "Bash" you online than come up to you and talk to you if a concern would be legitimate. Keep your head held high and use the ignore button frequently.

Originally posted by @Matt Motil:

Welcome to BP @BHASKAR RAO

I worked in the El Paso market many years ago, doing quite a bit of construction work at the base there. Hope you enjoy BP and all the resources it offers. 

 Thanks Matt👍The base is huge and a big resource for rental income especially for SFRs. Many Landlords get military contracts for their multiple holdings. 

Originally posted by @Account Closed:

@BHASKAR RAO  Welcome!   How's the El Paso market doing?  We looked there many years ago, but didn't buy anything.  I still like that market overall though.

 Hi Doug. El Paso still a buyers market. A lot of new developments planned by the city over the next few years. What hurts are the property taxes, almost 3%!!!!

Hello everyone,

This is Bhaskar from EL paso TX. Im new into real estate, started out with 3 SFRs that I recently bought in foreclosures, well below the market value . Just put them on the market and plan to cash out refi in the next year or so.

As I read more about this industry I realize that Multifamily homes are the way to eventually go and expand the cashflow and business. I am interested in learning about syndicating and sponsorship for bigger deals and properties. In the meantime will continue accumulating SFRs or more to gain experience in this industry.

Looking forward to BP

Bhaskar

Hi Steve, I would take the lower rent any day. Remember even if your cash flow decreases with your lower rent , a portion of your mortgage is getting paid off by the rent money and your equity in the property and wealth are increasing every month you get that check. You wait another 2 months for $800 you would lose 2 months worth of rent and your annual gross income on that unit would essentially end up being equal to $700/month!! Cheers Bhaskar