All Forum Posts by: Clint Galliano

Another option, at least definitely for Lowe's, is to use their business credit or accounts receivable cards. They send you an itemized bill with each purchase (receipt) listed as a separate invoice. It helps keep track of what you purchased, makes for easy end of month accounting, and doesn't fade. Plus, they give at least a 5% discount on every purchase.

Ultimately, it should be based on protecting your assets. If you have insurance and your equity is tied up in a mortgage, AND you do not have a lot of personal assets, you could be OK without an LLC.

Insurance will cover some things, but they will look for reasons not to cover stuff. Ideally, you want to have insurance and have your property(ies) in an LLC(s).

I suggest reading Garrett Sutton's Loopholes of Real Estate for more information. 

Disclaimer: I am not an attorney and I do not play one on the internet.

It sounds like what they are asking for is that you register your entity for doing business in Florida, even though the actual business is not in Florida. This may be a Florida regulation. I looked up the fees and it is the same as for registering a new LLC. It seems like you have some options...go to Michigan, open a business account with a national bank, such as Wells Fargo, and direct all of your mail to your preferred address (confirm the bank will do this before the trip), or pay the $160 to SunBiz to register your Michigan LLC as a foreign entity operating in Fla. There should be no need to involve a lawyer.

Disclaimer: I am not an attorney and I don't play one on the internet.

Houma? Thibodaux? Real Estate Investing? Coffee? Either my spelling eluded the keyword alert system or no one is active in the local area...

I would suggest checking with a local plumber. They should be able to point you in the right direction.

Is there anyone in the Houma-Thibodaux area that wants to get together and talk local real estate? 

Welcome to BP from Houma, La!

It sounds like you have already started on your journey. Make sure to set up keyword alerts, if you haven't already, to notify you when forum posts mention your topics of interest.

Also, look up BP Acadiana on meetup.com. It is the local REIA Meeting group. The next meeting is Monday night.

I would love to hear about your short term rental experience with the condo. Send me a colleague request.

Regards,

Clint C. Galliano

Welcome to BP from Houma! 

It sounds like you have already started with the podcasts. 

Make sure to set up keyword alerts so you can get notified about  topics that interest you when they are mentioned in the forums.

Look into attending local REIA meetings. You can find The RING by searching meetup.com. That is the group out of Baton Rouge.

Make use of all of the educational resources on this site.

Good Luck!

My wife was contacted by someone on Facebook interested in one of our rentals. It was from a joint account and my wife thought she recognized the husband's name from when she worked at the local video store some 25 years ago. She asked if the woman's husband was this same guy and the woman replied immediately that he did not remember her and that he had a past and why did she want to drag up the past and that we could just keep the house.

??????? #Insecurities?

As stated in another post, the New Orleans economy was not in good shape before Katrina and was in worse shape after. Houston does not have those problems.