All Forum Posts by: Cheryl Packham

Hi Daniel, you definitely cannot buy a residence as an LLC with a VA loan. But unless you have some serious net worth, I do not feel like an LLC would be an appropriate choice for you if this is your first investment property. I am not a lawyer nor an accountant and I do recommend you run your thoughts by at least one before starting an LLC. In my experience having purchased three properties with VA loans and renting out two of them, is that with adequate insurance, you should be fine for now. If you are owner occupying one of the units, which you are required to to get a VA loan, you will have more oversight of your properties and be able to take care of issues hopefully before they turn into lawsuits. To be honest, you may need to discuss with an attorney how owner occupying the unit would impact the ability for an LLC to protect your personal assets.

Hi Chris, 

I am from Wyoming and I used to live in Evanston.  I can tell you this that Evanston is limited when it comes to professional services.  Unless you are a court case in your future and the state laws are applicable to this situation, you may try looking in Cheyenne.  There are a lot of great attornies here.  I am familiar with some Wyoming laws.  I cannot give you advice, but if you would like to pm me the details I could probably steer you in the right direction of where to seek legal council.  

Hi Nate,

I have found that most budgeting and net worth software are not real estate investing friendly.  I have used Quicken Rental Property Manager (Still on the 2014 version because I have never used the tax features).  It quickly tracks my networth and there is an online version (I don't use much but you might find it interesting).  I would be happy to develop you an excel spreadsheet to store on the cloud that you and others could access and update.  I think sometimes just going with spreadsheets is sometimes the best way to go.  Free and easy to tailor.  PM me if you would like me to develop something tailored to you.  I do not charge it is just something I find fun to keep my brain busy.  I already have some basics that I have tailored for other people so it wouldn't take to much to convert for your purposes.  (The spreadsheet can be updated on a smartphone as well, office mobile is free)

looking forward to the meeting tonight.  See you soon.

Welcome Austin!  

WHEN: March 2, 2016 from 5:00 p.m. to 7:00 p.m.

WHERE: 1609 Linden Ct. Cheyenne, WY

WHY: Because we love talking real estate

WHO: Anyone and everyone interested in building their networking with other local real estate investors.

WHAT: Drinks and appetizers will be provided, we will gather and share all of our amazing real estate knowledge.

Please RSVP to [email protected]

Hi Terry, I am an investor from Cheyenne.  I am currently in the market for a real estate agent.  I would be very interested in sitting down with you to talk about Cheyenne real estate.  AAlso, I will be planning a meetup soon for Cheyenne investors.  Send me your email and I will add you to the list.  

@Michelle y.  I just saw your post.  Hi back.  We need to get together again soon!

Your right Bill, there are currently seven brand new 4 plexes for sale in Cheyenne right now.  Not considering the older ones.  Six of them are listed for $380,000 and some have been listed for over a year.  These are in the south side of Cheyenne next to the interstate.  

I am sure that the OP has done his due diligence on the market and has already weighed all the information on market supply and demand.  I would have to do a lot more research to fully know the level of demand for this type of property the location of the city would greatly impact the level of demand.  There are some pretty specific areas in Cheyenne and each area has its own micro market.