All Forum Posts by: Rich Perrin

Hey Al, I'm a RE agent in southern NJ in Atlantic County. I can send you some listings down here.

Has anyone opened up a corporation in another state than they do business such as Delaware or Nevada where they have a lot less taxes? I'm getting ready to open up another LLC and heard this might be a good idea at tax time. Open to suggestions. Thanks.

@ Paul Cox. No it's not cash flow, sorry. That's what you use for debt service.

Paul, if your hearing that you could get around $1000/month than that's what I would evaluate my numbers on. I like all my expenses and debt to equal 70% of the total rent so there is a good profit margin and money left over for the unseeable expenses.

$12000 gross rent
X 70%= $8400

$8400
-$3828 taxes
-$900 ins
---------------
$3672 for debt income

Your amount allocated for debt is around $300/month.

So you would finance roughly $55,000. I don't know how your financing it but if you put 20% down the offer should be $68,750 minus whatever the repair amount would be for the radon & other things.

Hoped it helped, good luck!

Thanks Brandon. I think the same however will consult an attorney. Read your bio, awesome job quitting the rat race.

When I invested in the past I invested with an LLC. I heard that an "S-Corp" might be better, is that true? Also, should I have a different entity for flipping compared to buy and hold? Any advice would be appreciated. Thanks

Mehran, in the downturn I took some big hits and just needed some time for the bruises to heal. Excited about where Im at now with a lot more knowledge.

Kurt, I am in that market to. Are you looking for already rented or fix and hold?

Thank you! I appreciate the kind words.

Sorry, didnt realize i was supposed to introduce myself here. Anyway, I Invested in the past and looking to start up again doing some flips & rentals. Also a local real estate agent in the shore area. Looking for networking, partnerships, private money, etc. Anybody in my area?