All Forum Posts by: Cody Hunter

Hi @Kyler J Sloan. What is the square footage of said cabin? And do you have a simple floor plan you could share? 

@Sung Woo Kim $100 a month cash flow is not sufficient to make that deal work. I wouldn't touch it.

@Travis Schmidt A PO Box is a simple protection to safeguard your assets. Also using a registered agent and/or virtual office aids in hiding your address. I'm not sure about FL but here in OR unless this is done at the beginning, your information is still public. That is because it will be on the original documents. So while the database is updated, the paperwork still shows. 

 A virtual office gives businesses a physical address and the ability to operate but do not exist in a fixed location. They usually include services such as mailing address, phone answering services, meeting rooms, etc.

@Kara Leboeuf Awesome work and congratulations! Keep it going. 

@Matt Keller 

"The first is if I'm paid these commissions as an individual before my LLC is created is there any way I can pay my LLC and then report that the commissions were paid to my LLC on my taxes?"

Simply put-nope. Retro is not possible in this scenario.

"The second question is can I have my broker delay paying out the commissions until my LLC is created and I can give them the LLC's 1099? Does it matter that the official close date of the deals were before my LLC was created?"

So...delaying the payment is sufficient. I'm not sure that a 1099 is needed. Doing business before incorporation is problematic. My advice is to conclude any business prior to the formation and then fully transition into the new entity. 

@Jay Shires Great work! The picture is a bit small but looks decent. Sounds like y'all picked up a nice number of units. And the price seems right. Thanks for sharing.

@Clark Cannon Location is not terrible. From reading your post, I would lean towards turning cash into cashflow. Also consider a property management company to assist with the risker tenants. Run the numbers and follow what you think is best. You just don't want to "invest" to sit idle, or worse lose money. 

@Nick Maynard Would you mind sharing market rents...I'm guessing around $1000-1100/month? 

@Lin Perez I am gonna jump on the sell it band wagon. The income is negligible to help you grow. Rather, do your research when redeploying the money for growth. You can make it happen!