All Forum Posts by: Emmanuoel Haroutunian

Hi all,

I have several questions around how to buy my properties and I want to know what sort of lawyer helps with these kinds of questions (assuming it is a lawyer at all). I want to be able to google a specialized professional to help me answer questions like these:

* Should I purchase properties under an LLC? Trust? Irrevoable Trust? Both and place one under the other?
* How do I set things up so that if I pass, my wife, then after that, my relatives inherit these properties?
* How do I get taxed under each setup?
* Can I get the properties under my own name and forgo the LLC, but still get business umbrella insurance that covers 10 properties? If I get an LLC, can I cover multiple properties under an umbrella insurance? 

I'm essentially at a point where I can buy 3-4 $175K properties (credit score is very high, debt is very low, income is very good, lots of downpayment, etc). But I've not made any moves because I keep overthinking about how to approach my first few properties. If anyone knows what type of professional I need to seek, I would greatly appreciate it! Time to stop being passive and finally move things forward! :)

@Kenneth Dai Thank you for sharing your experience! I too did research and found your post instrumental in choosing Memphis Invest.

I do have a few questions for you (if you don't mind): You calculated only 3% of rent towards CapEx, isn't this too low? I'm reading the Bigger Pockets rental guide, and they said it should be 8-12% depending on when it was last rehabbed. Also 2% for repairs, can you let me know how you found these estimations to be good?

Secondly, how are things going with them currently? Is everything still going smoothly?

I am seriously considering them and if they can pull off $250 net income that is pretty good, but if I raise the expenses closer to what I am reading is a realistic amount, that return drops significantly. Would love to hear your thoughts on this.