All Forum Posts by: Gerald Marshall

Put up for a 18 month lease next and get in schedule lol

To add to @Lisa Hoover, I replace flooring in my condos with a Vinyl laminate "hardwood " floor.  They look good, hard to scratch and don't expand if they get wet.  The inspections are very important to keep damage under control.  And for some reason, college kids will start their lease without a pet, but always seem to get a dog or cat once they settle into school. 

In Cumming, you can ad me to your list for SFR and Multi's.

Increase Cash Flow

I see your paying utilities. Will the market $500 a month per room? What if you threw in the cable/internet? Possibly increase your cost $75/100 per month, but increasing your gross by $200, and cash flow by $100/125.

How do you set up an LLC that "elects" to be taxed as a S-Corp?

Thanks @Brian Eastman. Since launching this post, I've been letting my fingers do the walking figuratively speaking. And im seeing Kingdom Trust Co. and IRA Services Trust Company as two of the more reputable Companies out there. Thanks for the response @Brian

Looking for a Bank "Custodian" that is Self Directed IRA friendly in Georgia. I have a family friend who wants to be my lender and who has a self-directed IRA to fund from. Problem is that his current Custodian is Charles Schwab who do not allow investments in real estate of any kind. He is willing to split his funds between different custodians and is looking for a bank of similar entity to assist him in disbursing his funds toward my lending needs. Any information or guidance would be greatly appreciated.

I agree with @Jonathan G.  $183 CF will not cover long term CapExp.  You may want to consider Home Warranty Programs.  It's a fixed expense, but it does limit your exposure to most repairs.  I have it on all my properties, it's saved me big $$$ last summer when they replaced (3) old A/C units and a chewed wire (squirrel) in one of my attics.  They don't cover things like roofs and renter damage, but most everything else in my experience.  Just my 2 cents.

A lot of good advise, thanks guys.  I'm thinking I need my Accountant to explain why she believes it's best for me.