All Forum Posts by: Eric Marquez

Does anybody have any feedback on Thach Nguyen's Springboard to Wealth program?  There seem to be a lot of programs to help people get off the ground.  Has anybody enrolled in the program?  I would be interested to see the feedback on it.

Thanks for the advice, everybody.  Follow-up questions.

From what I've seen, when an LLC is established, you can elect to have it considered a sole proprietor, S-Corp, or C-Corp. When I form this company, I'm planning to add my wife and myself. As my kids get older if they are interested add them as time goes on. From what I understand, if the LLC is multiple people, it's better to elect as a S-Corp in that case. In addition to the number of people in the LLC, from a tax perspective, there are more benefits to an S-Corp when you have profits. The goal of this endeavor is to make money and I foresee having to keep W2 income for the foreseeable future. Does that seem correct for the most part? Being a newbie at this, I'm using my ask dumb questions.

I'm a software engineer by trade with a wife and 3 kids, one of them nearing college age. I recently read Rich Dad/Poor Dad and it changed my entire perspective. I'm looking to build up an investment portfolio of MTR and LTR properties. In an ideal world, I would like to purchase a multi-family unit. I'm still figuring out my investment strategy and recently saw a video from Pace where he covered starting an LLC the right way. It covered setting up a holding company in WY (privacy protection laws) and child LLCs for the state you plan to operate in. As Pace said in the video, don't do what he did initially using your address or name in your LLC. I like the idea of keeping my name private from people renting from me. Being new to real estate investing, I'm looking to the wider BP community for some advice.

I'm still kicking around some LLC names, any recommendations for starting my LLC(s). I would like to do it right the first time.
Thanks in advance!

Eric