All Forum Posts by: Jose Romero

Check out a great app on google playstore to evaluate the property; Property Analyzer. It provides great hold and buy data that can be changed to see different results. There's a free version that gives most of the features but it does have ads. Still a great little app and very simple and intuitive to use. 

As you have state you have read the arguments on both sides. Other than it being a additional cost to do business and financing being more difficult under a LLC as long as you have adequate insurance coverage there is little other difference.

The primary advantage for most is the psychological security that comes with believing it will better protect your assets. You will not hear much first hand antidotal evidence to support the need.

Whether you do or don't is simply a personal decision in my opinion rather than a business decision. Investors are split about 50/50 whether to have a LLC or not to my understanding again reflecting a personal as oppose to business/legal decision.

@Jose Romero

Your plan will work. It sounds like you did your research- you feel compelled to have an LLC -it's not gonna be that big of a difference so go with your gut and your research form the LLC. It sounds like the LLC might own the property and/or manage it. Either one is fine if this is your first. Good luck -getting in the game is important so don't get paralysis by analysis.

@Jose Romero

1) You may not want to post the actual property address on BP. I am sure 99% of people on BP are ethical - however, you never know and someone can swoop the deal from right under your nose.

2) I think $160,000 is personally a little bit high for that property.

3) Alot of the basements in Allentown built in that period are not ideal for another unit.
You may be to fix it to add additional square footage; but not another unit.