All Forum Posts by: Kerlous Tadres

I live and work in CA, but looking to invest in OH and IN. I have two LLCs set up, one in WY one in CA, both under a WY holding LLC. Can I buy rental properties in OH and IN with my WY LLC? In which states would I have to file tax returns?

Hi all,

I'm planning to buy my first long term rental, a single family resident in the next 3-6 months. I'm in the Bay Area houses here are very expensive for me to start with. I have relatives in Houston, TX and did toured a few houses there last year. I feel like that's a good option with okish cash-flow. But when I checked some houses in Cincinnati, the deals are lot better with higher cash-flow. I'm confused now as to which market to focus on. Any help is appreciated!

Hello Fam! 

I got a HELOC on my primary residence for about 400k. I was thinking I can use those funds for the down payment and closing costs for turn Key properties in Ohio. Then renting them to Section 8 Tenants. I figure 25k per property can get me to about 16 SFH (Give or take).

Any opinion on this? 

I am going to be investing out of state. For the investors who have invested out of state what are some team members I should have to make it easier? 

For some background...I am currently a renter in the City of Chicago and am new to real estate investing. I can't yet afford to buy anything for myself in the city, let alone a multi-family, so I ended up buying my very first property out of state.

My high-rise building is located in an "A" neighborhood and was recently sold to a new owner. They plan to bring in their own team, which means the current property manager will be out of a job once the deal officially closes. I love love LOVE the property manager!!!! She has been with the building for the 13 years that I've lived there and has well over 15 years of commercial property management experience. The tenants love her, she stays on top of maintenance, has implemented upgrades to improve the property and drive rent increases (much to my dismay, LOL), organizes fun themed events with catered food for tenants, manages evictions and oversees the building's Section 8 program. Even better, she is bilingual and speaks fluent Spanish. I couldn't recommend her any more highly and am dismayed that they will be letting her go. If I owned a commercial building in Chicago, I would poach her in a heartbeat.

If you own or have limited partnership in a commercial building that is located in Chicago and in need of a property manager, please reach out to me directly. I am happy to connect the two of you. She would be an incredible asset to your team.

Greetings,

My wife and I are just getting into real estate investing. I am retired and working on career #2 and 2 of 3 of our kids have left for college - our oldest is headed to UConn for her PhD (6 years) and instead of paying to rent, our thoughts are to do a version of a house hack with buying a house/condo and renting out one to two rooms to offset the costs of her rent. We are largely looking to gain some tax advantages through investment properties to help offset the W-2 income. While we would like to cashflow at some point, we recognize that is likely downstream. Again, finding ways to lower our tax burden is one of our top goals.

 We are considering, if successful, purchasing an additional property/rental for grad students (hopefully less wear and tear) and what seems like a consistent rental market.

Hoping to find tax professionals/CPA's to help us make intelligent decisions related to our top goal of tax mitigation. Also looking to hear from anybody who has thoughts on the rental market in close proximity to major universities - I recognize the challenge of college students and the sometimes problematic care and need for repairs (that is why I am hoping to target the graduate/PhD/Med student population who might be less-centered on partying and more centered on academics and being responsible...pipe dream? :)

Thank you in advance.

Tim and Kristina

I've read about house hacking the BRRRR method, FHA loans, etc.. I'm ready to get started, but not I'm sure about next steps. Maybe you can help?

For the last 10 years, I've been living in Asia running a small marketing business I started from nothing to making $3-4k per month. My new wife and I are moving to FL with family because we think we'll be able to build wealth much easier here.

Luckily, we'll be living with family for a bit while we get settled. Right now, my plan is to have my wife do more of the business while I take on a full-time job and do the business part-time. Conservatively, I think we'll be making around $80-$100k/yr ($50-$80 W2, $30-$50 self employed). Crunching the numbers, it looks like we can save around $2-$3k per month.

So my question is... where to go from there? 

I'm thinking maybe the best route would be to work and save for 2 years, then buy a duplex (maybe with FHA loan) and rent one side out. Only issue is 1) that will take two years to get started and 2) Using a loan calculator, it looks like I'll only be able to get a mortgage for $200k which will not buy a duplex anywhere near us (we'd probably have to move out of state).

I've thought about some other possible options like buying a duplex in a different state with an FHA loan and living in it. In the mean time, build a one-room or studio dwelling on the property as well, and then after a year move back to FL.

Really wondering if there's a quicker option than "work for a few years to make money and then start."

I am merely just testing the waters to see where everyone is investing. This can be past investment locations, current locations, or even future locations that yiu are persuing. I am currently looking at Clevenland, OH as well as Montgomery, AL and Buffalo, NY. Also any additional information of why you are interested in a certian location would be much appreciated.

Hi All,

The more I learn about land flipping, the more I am intrigued. I have some general questions I am hoping to get answered to point me in the right direction. 

- Is it worth buying a course (seems like there are plenty out there) or should I just dive right in without one? 

- Should I use my own capital up front or try to partner with an established land flipping business to fund the deals? 

- Is it really possible to do this while working a 9-5, or is it something you need to go all in on and quit the 9-5 to pursue? 

- Is there another way to make this business model work without sending out direct mailers that could cost tens of thousands of dollars each year?

Any and all tips are much appreciated!

I’m 22, fresh out of college with a full time job. I have no student loans or debt and I’m looking to start investing in properties. I’m looking for guidance on what type of investment property I should be looking to buy, whether it be a multi-family, single family, or a house near the beach that can double as a beach house/student housing as there is a university nearby.