All Forum Posts by: William Allen

@Benjamin Ervin, 25 with 3 kids wow.  You have your hands full already!  Welcome to BP, we invest in your area as well so let me know if we can help at all.  Good luck getting going and I'm sure I will see you at one of the meetups eventually!

@Barry Christopher, I'm a military member as well. We have a good REI in Pensacola called the P.I.G. You should check it out if you are ever in the area. Good luck getting going!

Chattanooga has great cash flow, I have bought a handful of rentals there over the last few months and they are doing well. 2% plus is not uncommon for off market properties. To @Ali Boone's point, you will have to do work to the property or wait to find the right (as close as possible to) rent ready property to get those kind of numbers. We don't look on the MLS anymore but I would suspect they would be harder to find there.

Good luck! 

I'll find the guys number I have, I'll send you a PM when I locate his information. 

His wife is a PM there and he owns an HVAC company, good people and very reasonable pricing. 

@Nathan Williams, we invest in that area as well.  

@Kurtis Montgomery, have anyone who may be able to help Nathan out? 

@Jimmy Moncrief can help you on the lending side for sure! 

Looks great @Adrian Goram

I keep my rentals in my personal name with heavy insurance coverage, my flips and wholesale (active work) are in my LLC taxed as S corp. I didn't notice that you said you wanted to buy and hold as well. I agree with separating the two whether that be personal name or LLC.

I would recommend structuring as an LLC and being taxed as an S Corp to minimize your self employment tax. You will need to pay yourself a reasonable W-2 wage to execute this. However, there are a lot of variables that could change that recommendation. Get with a CPA or do some reading on the advantages of using an LLC taxed as an S corp or setting up a corporation from the start. I'm just giving you one guys recommendation and how I structure my business. If you are just getting going, create an LLC, start making some money, then you can figure it out once you have revenue coming in. It doesn't matter how you structure your company if you aren't making money.

@Jeremy M., we may have something for you. You can find a link to our Chattanooga site on my profile page