All Forum Posts by: Jeffrey Holst

@Dean Fryer Thanks for the update,  Keep it up.  

So  when I posted this it was my second ever post, This update will be my 100th post,  Since I started posting I have connected with several new local investors and have had 1 face to face meeting with 2 more planned.  My goals are already paying dividends. I will be finishing podcast 37 today and have already learned a bunch of new ideas.  I think the exposure to other peoples strategies will pay great dividends going forward.  

Anyway the point is I am keeping up on my goals, Hope y'all are as well.  would love to hear an update on your progress even if its I havent started yet but now I am going to or whatever.  

Hope all is well lets go out and kill 2018.

Thank you in advance for your responses

I have properties in Michigan Georgia and Tennessee.  I visit the ones near me somewhat regularly but I rarely visit any of the ones further out, if you have good management in place there really isnt a reason to visit other than to spot check once in a while to see if anything is degrading, I think you could visit less than 1x per year easily, I trust my MI property management so much that there are some properties I have never visited, granted those are cheaper single family properties. I like to at least see my multis once in a while.  More for pride of ownership than anything else.  

As far as you know there is no need to register this here in US. You would just report the balance on your Corporation tax return which your CPA should be able to handle for you.

It doesnt hurt but it can be expensive and unnecessary. We generally lump a few houses per LLC but dont want to have to deal with dozens of tax returns and filing fees etc. If we buy an apartment building we always try to do that in a new company though, but single families or duplexes stuff like that 5-10 per LLC has worked fine for us. Although @Ryan Saulle local legal advice is advisable. 

Good tip, didnt know you could forward to multiple phones.  I like that, I already use google voice. 

This is why I love BP,  @Joe Splitrock I think you are right,  I spend too much time being physically available.  I will definitely work on that part of the deal.  @Bettina F. I really like the separate phone for the LLC makes great sense, i might just do that going forward. Thank you both.

@Chase Gochnauer It might in general, but in this case my other properties are out of state so current management wouldnt be equipped to manage these.  I do have a local manager I could use but as I said I prefer to continue managing these myself if possible.

I think I will keep managing these 8 units for now, the rest of my units are managed by people other than me already. 

A few weeks at a time, my longest trip of late was 4 weeks to Egypt but I have nothing specific planned at the moment.  Typically more like 1 to 2 weeks