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All Forum Posts by: Bryan Richardson

Bryan Richardson has started 15 posts and replied 183 times.

Post: Tax on private money

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

If I raise private money from a co worker or family, Do I need to w9 them? Does any thing need to be done for taxes? My company is in a llc.

Post: Thinking about mowing yards

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

So I have a duplex that I am taking care of the mowing. I'm strongly leaning toward buying a riding lawn mower,so I can use at my personal residence as well as the rental.

I was thinking about mowing other yards on the side. Wanted to see if there would be any interest in it. I am located in Indianapolis.

Post: Can I retire at 39 years old?

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Mark Rosario man, take a yr off. With nothing that is depending on you, what's the worst that could happen. Maybe since fixing electronics is a hobby you can buy and sell a couple things on the side.

Post: Carmel, Fishers, Noblesville, Westfield, Zionsville

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141
Originally posted by @Tushar P.:

Are all neighborhoods in these areas good, or can there be streets and pockets that should be avoided? 

And what about at the boundaries of these areas, like the intersection of shelbourne rd and eagle creek ave - is that in Carmel, zionsville, Westfield, or none? Same with Hamilton town center or intersection of Boden/greenfield - is that in Noblesville or fishers or none? Does being at the boundary matter in terms of rental attractiveness and exit/resale?

 I know there are some places in Westfield that are not so good. A guy I work with lives in a trailer park there. With that said these areas are seeming to come up and get developed.

Post: Electronic lockbox on rentals

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Cassi Justiz masterlock is the manufacturer. Idk the model number, its currently on a house. We got it off Amazon.

Post: My tenant may be skipping town.

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Libo L. I agree with David as well. Hopefully they didnt destroy too much.

Hell it could've been way worse, at least you have there security deposit.

Post: Personal Assets to LLC

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Lydia Woods talk to a title company or realestate lawyer.

Also if you take a mortgage out. They can switch it over at closing(I have personal done this). *best option* utilize that equity $-)

Post: First Deal in a Long term play

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Brian Watts

Wow 800 for a 1 bedroom, not bad. I guess with that return I probably would of left as well.

I would say In my market adding a bedroom would get you 50 to 100 more a month. I look to add room when ever possible.

Post: First Deal in a Long term play

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Brian Watts

Are these higher end rentals?

1500 total, so 750 per side, and they are one bedroom? I would've tried to make them 2 bedroom each side, unless they are higher end I guess.

Post: When borrowing for investments are you always in debt?

Bryan RichardsonPosted
  • Rental Property Investor
  • Indianapolis, IN
  • Posts 189
  • Votes 141

@Matthew Yeoman

I believe you can have 10 mortgages in your personal name. We do commercial loans on our properties. No limit on the amount or number of those you have.