All Forum Posts by: David Ferrette

I would recommend going to your local real estate investment club and asking around this same question.  They can give you insight on contractors in your area. 

I would go see the building department to see if you even need an architect to do any design work.  Depending on the scope of work, you may be able to handle it yourself.

I currently have two rental properties in Austin and both have landlord insurance.  One is insured by ASI and the other with Safeco.  Moving forward my agent only reps Safeco but I would like at least two quotes for each new property in order to compare rates and coverage.  I am looking for people to provide me with insurance companies they prefer to work with.

Warren,

In my opinion I would say you should go the BRRRR route. If you have enough cash to pick up one property now, then you can repeat it over and over with this method as long as you do it right. The link below is something Brandon Turner wrote, I think it explains it quite well.

http://www.biggerpockets.com/renewsblog/2015/04/20/how-to-100000-dollars-year-real-estate/

Ron,

There is a MeetUp in Lake Forrest this Wednesday that you might want to attend.  There is usually between 10-20 people there, me included.

http://www.meetup.com/Orange-County-Real-Estate-In...

Rhett,

I agree with what Brandon has to say.  From what I have read and what my CPA has to say, if you are doing business out of the state of California, it is going to be very hard to sidestep the CA franchise tax imposed on CA LLCs.

Thanks for the info Jim.  I will keep that in mind.

I live in Laguna Hills but would travel to North OC for a Meet Up.  Please keep me in the loop.  

There is also the 3rd Wednesday Meet-UP in Lake Forrest.

http://www.meetup.com/Orange-County-Real-Estate-Investor-Networking/events/225780431/

Not all states will allow you to require your renters to have rental insurance.  You must check with your own state's regulations.  I asked this same question to my property manager in Texas and she notified me that we cannot require this in their state.

Chris,

Let me know how you are doing in the Austin and LH markets.  I am also some who lives in Laguna Hills but invests in Austin.