All Forum Posts by: Janea L.

@Janea L.

Setting up an LLC in a state where there is anonymity is great, however, privacy is really the only additional thing you are achieving. If your LLC is sued, you will be required to defend the LLC, your name will then become known, and the plaintiff's attorneys will amend the complaint to include you. If you are personally sued, during the discovery process, you will need to provide information on all of your income, and assets (including your LLC in a state with anonymity). Anonymity is great, but it only does so much.

I am not an attorney. Speak to an attorney before making any decision.

@Janea L. Here are some tips that could help:

1. Reflect your brand: Ensure that your company name aligns with your brand identity and conveys the nature of your business.
2. Be memorable: Aim for a catchy and memorable name that stands out from the competition.
3. Keep it concise: Choose a short and concise name that is easy to remember and makes a strong impact.

These tips will help you create a distinctive company name that resonates with your target audience. Good luck!

Welcome to BiggerPockets!

I would add:

1. Ability to pivot. When looking for a property in a specific market or area, sometimes the area doesn't have what you initially set out for. If this is the area you want to target, you may need to adjust your desired property. 

A few years ago, I wanted to buy a multifamily in my city as an owner-occupied property. However, I quickly found that multifamilies were in declining neighborhoods, which I didn't want to deal with at the time. I quickly pivoted to a new build SFH and lived there for almost two years. Today, the property brings over $400 in monthly cash flow as a LTR.

2. Doing what you're budget says you can. Yes, we all want a great property or get a great deal, but sometimes our budget says otherwise. In the desire to stick to what we want (#1) and get emotional (#3), we might find ourselves with an undesirable deal. It's perfectly okay to start small. Everyone starts somewhere. Just take action.

3. Not being overly emotional. REI is a numbers game. As soon as you get emotional about a house, you may find yourself in big trouble. When you get emotional, you may begin to ignore your initial property criteria because you think you're missing out on a great deal or you're hung up on a specific property. There will be other great deals and opportunities. Don't allow your emotions to get the best of you...and your wallet.

I can share more, but I'll leave it with these.

I wish you all the best.

Interesting topic. Haven't thought much about this but I guess these are some habits and behaviors that have contributed to my success:

-Work/Life balance

-Healthy diet (most meals)

-Exercise 3x Per week

-Always learning (books, blogs, podcasts, forums)

-Always networking (meeting agents, contractors, wholesalers, etc)

-Build real and genuine connections (not surface level networking)

-Always underwriting deals (even when I'm not a buyer)

-Being consciously confident, decisive, passionate, positive, and creative.

 This should be good.