All Forum Posts by: Michael L.

 @Russell Brazil, so instead of doing a quit claim deed, just wait and when I refi switch everything over to the entity. Am I following your advice correctly?

@Randy Rodenhouse, I wasn't referring to buying a property with a quit claim deed, it was a scenario of buying in my name then quit claiming it into an LLC. But I still appreciate the feed back. How do I get around the changing insurance issue as not having that iwould be a huge liability?

 @Russell Brazil, thanks for the insight. Is there a way to avoid this problem?

Grand rising BP fam🤜🏻🤛🏽! How likely is a bank to call your loan due on a quit claim deed if your payments are current? Has anyone experienced this, and if so, I'd like you to pm me to break it down for me please. Salute🫡

 @J Scott, thanks champ👍🏻.

 @Drew Sygit, thanks for the guidance. I like learning how different strategies work and fail, for future reference if necessary.

@Cory j Thornton, thanks for all the insight. Believe it or not, everything you said gave me a better overstanding on how to approach my goals. As you stated, I'm goin keep digging in and expanding, even when I get to where I think I want to be! I appreciate you bossman🤜🏻🤛🏽!

Great afternoon BP fam🫡.1, When self managing, do you pay yourself a fee? 2, if you do pay yourself a fee, is it considered an expense (tax purposes)? 3, if you do pay yourself, do you have to set up an entity to legitimately receive that payment? I appreciate all feedback!

If I was to self manage my own small multifamily, would I have to start a PM company? And would this only be necessary if I was intending to be receive compensation for my time as the property manager? I appreciate y'all replies.