All Forum Posts by: Jeff Robert

Hey Joshua, I've been thinking many of the same thoughts during my early stages in the process.   I'm currently do the coursework to become a realtor in Michigan, for many of the same reasons you mention. 

Jeff

Welcome to BP Alan!

I'm in the same boat as you, maybe a week ahead of you.  I started using RealEstateExpress.com and it's pretty weak.  It should do the trick, but you might look elsewhere unless you want to get it done for $200, which is what I paid for this one.

Hey @Amaya T.. an LLC is a pass-through entity, so you dont really need to lend it money. As money flows in or out of the LLC from its members, its simply noted as a LLC Contribution or Distribution, it has no real affect on taxation unless partners are involved or income exceeds 250K. Be sure to setup a separate bank account for your LLC, it helps prove to the IRS (if they ever take notice), that your business is legitimate and distinct from personal finance activity.

Hi @Steev Boundzanga. I'd avoid a condo, especially as your first. The HOA fees will typically screw up any cash flow.

$500 for an LLC? Dang. So much for putting each property in its own LLC. Why not drive over to Whiting, Indiana one day and open up a mailbox for $75, and then you can file LLCs there (also $50) for a fraction of the cost.

Us midwesterners never understand how the coasts and overly dense cities justify such insignificant things with higher prices.   I'll take 4 seasons, a 2500 sqft home on 2 acres for $200K, a down to earth girl, clean air, and 100 yards of open highway in front of me and my V8 every day.  

Welcome @Melissa Lowery, I'd definitely recommend an LLC as a way to start. I think Georgia LLC's are only a $50-100 filing fee. If you have any questions about tax implications or LLC setup, feel free to PM me.

I've heard good things from both of these guys:

Great Lakes Remediation Inc.
www.GreatLakesRemediation.com

and

Mold Experts of Michigan
www.callmoldexperts.com

Welcome @Shawn Munoz, i started with the podcast, as its an excellent way to just sit and listen to great ideas.  Episode 158 is excellent in particular.