All Forum Posts by: Cherisse B.

Thanks for referral @Patricia Corsetti, we are are reaching out to them for an interview. Happy New Year!

Thanks for the feedback @John Thedford. If we were setting up an entity as the sole proprietor, we'd probably settle for setting it up the way you suggested. It's certainly much cheaper going that route.

However, we are 2 unmarried individuals, so we want to make sure we are structuring the entity with the appropriate legal operating agreement(s) and an optimal tax structure. 

Hi @Andrew Schutsky, happy to connect. Sending you an invite to connect and a message regarding our progress thus far.

I'm looking for a collaborative attorney and CPA duo (is that even a thing?), or a full suite practice that offers both legal and CPA services, ideally in the St Petersburg, Tampa, and Central Florida areas.

Planning to use their services for not only the formation of a real estate investment entity, but also for regular retainer services when needed.

If you have any first hand suggestions, please tell me what your experience was like. Let me know if there are any questions I should ask a prospective firm (CPA and/or attorney) when vetting, or things I should look out for from your experience. Looking forward to your recommendations and feedback! Happy New Year everyone!

Hi @Emily K., finding a landlord willing to sublet under these terms may be challenging, but it's not impossible. You may have to negotiate concessions with a prospective landlord to get their buy in. Like increasing the security deposit, having supplemental insurances in place, or assisting with the improvement of the property in certain ways. To narrow the scope, I'd start with looking up landlords that have multiple properties on zillow rentals, and asking if they allow subletting in any of their properties. From what I've seen, owners with medium to small portfolios often seem to be more open to negotiations. As a renter and student in the past, larger cities with transient populations and college towns seem to have more sublet friendly landlords as well. 

I'm not familiar with the laws per state or even county levels, but I know this could be another challenge. Before you even reach out to landlords, do some research on airbnb friendly areas, and maybe even consult with a lawyer to narrow your scope. It could be a worth while investment before subletting in an area that prohibits short term rentals. 

I am certainly not an expert on this particular strategy, but I did a lot of research when considering my real estate options in South Florida in the past, and this was one of my favorite strategies. I just found the limitations at a county and sometimes neighborhood level were just too dense to make this work in that area, but I'd certainly consider it again in other areas if I'm strapped for cash flow.

Best of luck.

K

Hi @Deisy P., Stay encouraged, you can do it! From what you described, your experience isn't predicated by your gender, it could happen to anyone, male or female. There are things we don't have control over, like a dishonest or sexist contractor, but there are things we can do to protect ourselves from those kinds of predators, like getting consults and estimates from multiple vendors, and asking questions or a play by play of how they'd get the work done. Write notes, and tell the contractor that you're comparing what they are describing and the estimate to other contractors you're considering. If something doesn't seem to make sense or is too complex,ask for a more simple description, ask for a formal estimate and breakdown of the cost. If they're not cooperative or clear, they're not the right fit.  Some lessons just cost us more then we'd like, but every investor has had or will have these moments. You've gotten this far on your own, and if you nurture your mindset, you can certainly excel forward. Breaking out a few affirmations may help with the imposter syndrome, and reading Brene Brown's book " I Thought It Was Just Me," may help with the shame, context on your mindset, and building resilience. You're certainly not alone, but that book changed my life!