All Forum Posts by: Huy N.

Hey @Mike Amedeo

Depend on the purpose, If the LLC purpose is to hold assets i would suggest to randomize the name as much as possible. You don't want anybody to look at the name and tell where is it came from, how many assests does it own, etc...

If the LLC is to flip house for example and doesn't own anything, pick a word that you would live for.

Welcome to BP!

I love turn key on the other hand, I don't know much about MFR turn key but on SFR, I would buy them all day long as far as the number work out, I bought turned key from MLS and wholesaler before with more than 12% cap rate. put together a good financing in place to shoot your ROI through the roof and you will be set for years.

I believe that if the cash flow is solid, appreciation will come

@Bret Benton

1. If your goal is 5 properties in 5 years, I wouldn't bother messing around with LLC, it will just give you headache with the bank and insurance, i learned it the hard way. Just use your name. Since you most likely have mortgage on top of these houses, There is not enough meat for anybody to go after you in the beginning

2.just keep it simple in the beginning, no need to go fancy or complicate yet, Just simply purchase it as a 2nd home under your name

3. my magic number is 5, once i reach 5 properties, i wouldn't able to handle it myself with a day job anymore

4. Just push forward man. you are on the right track I recommended reading book such as 10x rule / The one thing/ Rich Dad Poor Dad to keep you on motivated. Go out there, make friend, and make thing happen

 Agree, although being a Realtor myself, I do recommend new investors to do the 1st few deals by yourself. That's the best way to learn and understand the business to its core.

Brie is right on the point, I would say working with a realtor on your 1st deal or two before you decide to get your license. After you see the amount of paperwork and communication we have to handle, you might think twice about being an agent hehe

@Jonathan Twombly

Great question! I'm writing my very 1st book that will address this question. Below is the excerpt from one of the chapter that will answer your question

"Look around you, if you want to become wealthy, at one point you will involve in owning real estate, one way or another. There is no way around it. Real Estate is the best vehicle to protect, preserve, grow your wealth and pass it down to the next generation"

thanks for the comment @Account Closed

 Good luck with your 1st deal

it doesn't really start when you sign a contract with that agent to officially represent you in a sale or buy transaction.

with that said, the rule of thumb is to respect everybody time and you will do just fine. Realtor needs to feed their family, and more than likely they are busy buying their own investment properties as well. I love to help people out as much as i could but could not afford to waste time go look at 30 houses with a client if I know that client is not ready to buy.

Good luck!

@Fay Chen

If you put your property in an LLC then the rate might go crazy. I ran into that same problem. Or if the property is in the "storm zone" nobody will not sell it for cheap either. That's why i always call my instance agent and make her quote 1st before moving into any deal.

Good luck!

@Yavor Tomov

everybody is getting hit, not just yourself. I have to go up in rent to cover just for this non-sense as well. They appraised it even higher than the market value, then you have to either go spend your time to fight or hire someone to fight it down and pay the fee or lose your time. Something doesn't make sense here. 

If you haven't register to protest it probably too late now. Call hcad and check