All Forum Posts by: Jereme Tayamen

@Steven Hamilton II thanks for the info, after speaking with my partner on the deal it looks like we will plan to not LLC this deal and cover our selves with rental property insurance and possibly an umbrella policy if we feel the amount is inadequate.

I also Note that I have been trying to schedule a sit down with a CPA for a while now but due to the current tax deadlines they are all weeks out availability so that is why i am asking on here but will be eventually sitting down with one. Thanks.

Hey BP!

Been doing some research on LLCs and looking to get some opinions from the community.

Situation: 

Partnering with a Co-Worker on a Buy and Hold Purchase of a SFH. Partner is providing the Down Payment, While I am Signing for the remaining balance of the loan. We will be renting the property out to my parents as they are not able to qualify for a loan on their own for est 2 years. They are selling there home in AZ and relocating to VA. Them affording the payments is not a problem or a question. Monthly expenses to include Mortgage,Ins, etc is around $700p/m and we will be renting it to them for around $1k p/m.

Discussion:

Between myself and my partner, It seems like the most advantageous route for us two is to form an LLC with this property. Unless I am wrong it should work as a "Pass Through" tax wise for us so there isnt a concern there. However, I Currently own 1 rental property and my primary residence I would want protected. Also, my partner does not own any properties and rents his primary residence. We both have great W-2 Jobs in the 100k+ range. In Your Opinion, LLC or Not? Ready Go!!!

Currently searching for a Single Family Home located in the Newport News, VA area. I am working with a partner that is bringing the down payment and I will be financing the rest. We have a tenant Lined up but looking at finding a home that meets their needs and our investment criteria. Currently working with a Realtor in that area from Century 21. Have we overlooked anything in your opinions? Also If you are selling we are interested in hearing what you have.

Criteria:

SFH

$80k-$130k

Est Rent Rates Near $1,100+ p/m

1100+ sqft

2+ Bedrooms

2+ Bath

Garage - Attached Preference but not mandatory

Newport News,VA - Hampton, VA proximity

Military Base Proximity - Fort Eustis Pref

Renovated

Turn Key

Appliances included.

Welcome to the Tucson market! Wish you luck with your start!

Welcome to bigger pockets!

I'm from az and have lived there for many years to include high school and college. I generally agree with all being said. Especially emphasizing the area around the Vail area sou/ south east of Davis Monthan AFB. If your looking for turn key buy and hold. 85747 is where I am currently invested in and it is the number one school district in the area that a lot of families are moving to. The areas around these parts are all closely linked to the I-10 which provides a fast route into the city where most of the people will work out of. Hope this helps.

Originally posted by @Jason Hartley:

@Devin McMartin & @Jereme Tayamen - It depends on your portfolio size.  But under 2500 units I would recommend Rentec Direct @ http://www.rentecdirect.com.  I've been very happy with them.  They do my ACH, screening, and accounting.  And I don't even get a referral credit for recommending them...  maybe I should.. hmm!  You RT guys listening?

 Taking a look at a few of their videos and pricing get chart this does seem like a very viable option for even a beginner. The use of all the tools available seems to make the process from start to "finish" relatively easy. Thanks

Originally posted by @Jereme Tayamen:

@Jason The question still remains of what would be a platform that would people would recommend to give full service capabilities? This sounds like a very useful tool.

On another note, We have decided to go into a single family home using the VA loan and after a year of my spouse living in it, turn it into a rental property.

 This is due to the conditions of most Duplex's in Tucson are beyond what we have the time for.

@Jason The question still remains of what would be a platform that would people would recommend to give full service capabilities? This sounds like a very useful tool.

On another note, We have decided to go into a single family home using the VA loan and after a year of my spouse living in it, turn it into a rental property.