All Forum Posts by: Bryan Lyde

look ntarei. smaller and no upsell, just weekly training and monthly general meetings with speakers on a variety of topics. 

Hi Tammie, your costs will be higher selling individually vs a pkg deal. Would love to see what you have as I am looking for pkg deals like this.

just meant in the course of normal business,  not as a means to skirt regs. it's all in the intent and the language of any agreement. 

@Patrick Lloyd you might consider partnering with someone else who also has an sdira and lend to each other which isn't prohibited.

Courtnye, it seems the thread has gone sideways a bit. To bring things back on point, always consider the source when asking for and receiving feedback. If they are not an investor or have limited first hand knowledge of the market you are interested in, take their advise as one of concern for your wellbeing but not necessarily in your best interest. If that is your local area you likely already know the good and bad areas; confirm your suspicions by meeting and talking with others at a local REI meeting, a property manager, broker/realtor. This forms the basis of a good team and can give you the information needed to make a smart decision. You can reference the multitude of online data sources for economic indicators but definitely choose no more than 1 or 2 markets. Cast too wide a net and catch the crap with the crappie as my dad always said.

How your current property performs is also a data point but keep in mind the economy, geography, and finance is a constantly moving target. Ie, what worked in detroit sub-market xyz 2-3 years ago may be totally different the next 2-3.

I suggest you determine your end goal, build a plan, build your knowledge, then a team, and then grow wealthy by buying for cashflow, use long term debt, and have plenty of reserves.

I can't speak to the estate feasibility question however, getting all the family to agree would likely be difficult. I would suggest partnering up with other investors to get the deal done, or syndicate it via friends, family, etc. as it appears you're close in terms of funds.

Doug is right. There are a variety of online sites which will open an LLC cheaply and you get what you pay for. You will have to have a registered agent in that state and there are many options for that as well. They are simply a mail forwarder for due process docs but a necessary evil. I highly recommend corporatedirect (Garrett Suttons firm). They did everything and can provide multi-year registered agent (RA) at a good discount. One thing that is not talked about much is having a well structured and properly documented operating agreement, initial meeting minutes, articles, etc. If asset protection is your primary goal (w/tax savings a close 2nd) then the operating agreement and other supporting docs will be key in not piercing the corporate veil. I paid ~$1100 all-in, including 5yrs of RA. Garrett has a great book on the topic. I recommend doing it right on the first one with the real professionals, then copy those docs for all your others and go cheaper on future formations elsewhere. I'm am not affiliated in any way, just a happy customer.

Good article here for starters and a contact. https://www.biggerpockets.com/...

Suggest Wilmoth Group for property management and/or realtor representation(ask for Max or Joel). I used Lazar insurance, Cardinal Financial for the loans, and Markham Inspection Services for inspection services.

@Scott McGuire happy to chat as well on the topic. I was in the same boat and can share some details. send me a pm .

@Samuel Iwu highly suggest reading the millionaire real estate investor by Gary keller.

he lays out exactly that. think,buy,own,and receive a million.

for those who actually enjoy their job but want better returns and less risk in real estate, you can always invest passively in multifamily, and reinvest the 12-15% returns for excellent compounding with no liability and no hassle.