All Forum Posts by: James Lau

Thanks @David M. That really clears it up. 

@Sean Morrison I'm about to invest in an apartment complex, similar to a syndicate, where I'm one of many investors. The operating agreement lists the investors as limited partners. The LLC would be listed as a limited patten. Does that still provide me protection?

I'm about to invest in my first real estate deal. I'll eventually consult with a CPA on tax issues, but thinking ahead about tax issues. I'll invest with my personal funds but will be creating an LLC as a limited partner in the deal.

As income comes to me and when the property gets sold, do I need to keep all of the money and proceeds in this LLC? In other words, I'd like to have the option of keeping the proceeds in the LLC to invest in other properties or to be paid back in full.

If it goes to the LLC and then to me, will I get taxed twice?

Thanks.

Thanks all for the kind welcome. 

Thank you @Dakota Burkeen! Congrats on your first rehab. I haven’t read it yet - I listened last night to the podcast that previews the book. Was the book spot on with your first purchase? I’m planning on buying the book. Thanks for reaching out. 

@Victoria Pham that’s great that you’re willing to share. I haven’t analyzed any deals yet and am about to start. I would love to take a look at the deals you have analyzed to learn how a pro does it. Thanks. 

Hi - I’m so excited to join this community. I discovered BiggerPockets at the start of the COVID lockdown, taking this time as an opportunity for personal growth. After consuming dozens of podcasts, I wish I had stumbled across this treasure trove long ago and started this journey years ago.

Regardless, I'm looking to gain experience in the BRRRR method, invest in properties, and partner with those in this community. I have capital to invest, looking to invest in either Los Angeles and the surrounding areas or in places I've lived, including Boise, Portland, or Sacramento - even though many of you may own properties thousands of miles away, I feel more comfortable knowing these cities, having friends who live here, and knowing I can easily visit these cities.

Looking forward to connecting with you and exploring how we can support each other in this journey.