All Forum Posts by: Gary Mandala

Thank you! Robert.

Ronald-
Since there aren't many transactions with the Farm lease I do book keeping my self in a spreadsheet. I guess with Rentals and Series LLC I may need to go for Quickbooks or CPA?

Thank you for your thoughts Julian Fung.

Hi-

I have an existing traditional LLC (me & wife members) with couple of Farm land properties that are leased out. I am planning to buy and hold cash flow rental properties now. I am trying to figure what's the best approach for deeding rental properties from Asset protection stand point. I read series LLC gives good insulation for individual rental prop but involves lot of book keeping,paperwork, etc. Can you all please share your thoughts in general on series LLC and also answer the below.

1. Can I just deed rental properties under existing LLC and buy General Liability insurance for the LLC to cover any lawsuit from rental props?

2. Should I convert my existing LLC into a series LLC and redeed all existing props to sub series and create new subs for rentals? Is it worth the change?

3. Should I create a new series LLC and create subs for the rentals.

I just want to keep things simple from management standpoint and solid from Asset protection standpoint. Option 1 sounds good for me but I want hear from the Pros.

Thank you! for your time.

Gary

As a new Rental Investor I thought knowing the recently rented homes gives me an idea about the demand, Age on the market, median $/sft, quality of tenants, etc. in the neighborhood before making decision on looking for properties there. Hope it makes sense.

On Zillow I only see "For Rent" list that are still available for rent but not the ones that are already rented. The Sold homes can be filtered though. Any other online options?

Hello All-

Just wondering if there is a way to find recently rented homes in a neighborhood? Pls advise.

Thx

Gary

Thank you all for the replies. I haven't run the numbers yet. I am newbie and trying to understand the basics on. Since this is a 1980 duplex I don't expect it to increase in value. It seems the Net operating income is $20k/year after insurance and maintenance and a rent increase of 5% per annum. 

Hi All-

I see a property on the market and want your opinion on it:

1) 1980 built, Duplex , 3 bed 1 bath each. 

2) Sale Price $320k County Appraisal value is $206k

3) Leased for Adult care until 2023 with $2500/month for both units

Questions:

1) Does it makes sense to buy a property higher than CAD value?

2) What could be the Gotchas in this offer?

Appreciate your thoughts!

Thanks

Gary

Hello All-

Just want to do a quick intro about myself. I am Gary from Irving TX, working in IT industry for a long time. I am looking at the option of changing my future course from IT into Full time Rental Real estate investing  for a better retirement. Please share all your wisdom and educate me on the Pros and Cons getting into RREI especially in DFW area.  I have been listening to tons PODcasts and have tons of questions which I will be shooting shortly.

Also please advise how to get info on local DFW investor meetups.

Best Regards

Gary