All Forum Posts by: Evan O'Brien

When filing an LLC to protect your Real Estate Estate business would it be best to file an LLC with an asset protection attorney to understand the full scope and details of what the LLC will protect? I know that service like legal zoom are able to file LLC's but I'm not sure if there is a difference in what the scope of the LLC will protect if it's filed through legal zoom as compared to an asset protection attorney?

Hello,

When furnishing a STR remotely from long distance what is the best approach to take to have the property furnished/staged? Are there certain companies that will stage and furnish the property on your behalf after you order various amenities for the property such as furniture, cookware, televisions and so? If anyone has any experience in furnishing a STR from a distance I'd be very interested in further discussing and hearing about your experiences!!

After you purchase a property, put a down payment down (say 20%) and increase the equity that you have in the property by completing a rehab how do you determine how much equity you have in the property? Will the amount of equity in the property be based on the appraisal price after the rehab and the amount of equity you had based on the value of the property before completing rehab/repairs?

When buying your first home if you put a down payment below 20% down is it possible to pay the PMI in a lump sum as compared to paying it monthly until you reach 20% equity? And are there programs that will allow for PMI to be waived for first time homebuyers?

@Wayne Brooks I see, thanks for the info!

If you purchase a property that is affiliated with an HOA, as the property owner will you be allowed to make any type of repairs or rehab work to the property? Or will the HOA determine what rehab costs and repairs will be approved to occur for the property?

Is anyone benefiting from the $10k student loan forgiveness or $10k reimbursement for paying off their student loans and using this as an opportunity to start their Real Estate Investing Journey? I’d be interested in hearing everyone’s thoughts!

With hard money loans, what are the typical interest rates that are associated with hard money loans? And what are expected fees that are associated with Hard Money Loans?

@Erik Stenbakken You bring up a great point Erik. The earnings have to be incredible in the spring/summer months due to the demand but the day to day maintenance and capital expenditure costs associated with keeping the properties up to date and maintained must be quite expensive. Definitely need to take that into consideration if you invest there. Would you feel comfortable providing me with your friends contact info, I’d be very interested in hearing about his experience investing there!

This past week I stayed in Kill Devil Hills in the Outer Banks, NC with family which seemed less crowded compared to Duck and Corolla but was also within short driving distance from restaurants, bars, the beach and other attractions in the area.

It seems like you can make great returns investing in the Outer Banks but the impression I got was that it is a seasonal vacation market with the summer months bringing the most tourists and highest profits. If any investors invest there or have experience owning rentals there I’d be very interested in hearing about your experiences!