All Forum Posts by: LaShon Evans

@Stephen Akindona you’re 100% right.  No worries- the momentary madness has passed.  I like that advice from your mentor.  Thanks for sharing.  

@Jared Smith thanks for sharing that personal example! 100% agree

@Todd Anderson, @Drew Sygit you talked me off the cliff. Thanks!

@Dominic M. thank you for weighing in!  The moment of insanity has passed.  I appreciate your response!

@Greg Scott Thanks!  All of your points make perfect sense.  Rehabbing is a bit intimidating to me for now.  Any tips for managing a rehab from distance?  I'll get with a CPA next week to understand REPS status better.  Appreciate your help.

Looking to get started this spring with the purchase of my first SFH for a LTR situation. My initial plan had been to do something like Rent-to-Retirement or REI Nation- assuming that I'd be leaving money on the table to pay for their expertise, but hoping that I would learn through the process and develop the confidence to strike out on my own later. The other factor that's relevant for me is that my husband is a high end W-2 wage earner and we could greatly benefit from the potential tax benefits of actively managing the property. While I don't want to get myself into a negative cash flow situation- appreciation is the bigger deal for us. We're starting late and looking to shorten the retirement on-ramp.

I've been seeing stuff about great apps and tech that make things easier and almost seem doable.  Would you consider trying to self manage rentals in my situation? Btw I live in rural Alaska.  Investing locally isn't an option.  Travel will be part of what I do with this.  Looking for a market that's only 2 flights from Anchorage.  My kids and extended family are in the lower 48 so I don't mind excuses to get down there- and the sun too! 

If you have worked with a company that handled everything for you- vs making your own deal/team/etc, I'd love to hear your thoughts.  

Thanks for your help and input!

Best wishes

Thanks to all of you for your encouragement and advice.  I'm working my way through the material on BP and other places to learn right now. It's a perfect winter project for me.  Won't be really actively looking until late March or April.  Hope to have my market chosen and be ready to move in the Spring/early summer.  Your help is so very appreciated!

@Nathan Gesner Thank you. I do appreciate that thorough alternative perspective. I was just pitched the idea of an LLC for each property last night. It seemed overkill to me but I'm not sure I can fully trust my instincts yet.

As I think about the risk for us personally, it is more for my husband's career protection.  He's never been sued (knock on wood!) and we carry insurance to protect from those situations but unfortunately there are horror stories and tragedies that happen in medicine.  We're going to be small potatoes investors really- my goal is 10 doors in 5 years.  More to think about, more to learn.  Thanks for easing my mind on this and sharing your take.  

Thanks Julia! And Melissa- that was my next question- where to incorporate the LLC. Truly appreciate the encouragement. I'm sure I'll have more questions as I get into things. Thanks for sharing your wisdom

Greetings BP Community from the frozen lands of Soldotna, Alaska. It's a small rural area about 3 hours S of Anchorage- not exactly a hot RE market, but we love living here and my husband has a fabulous job with about 12-15 years left in his career. I'd love to shorten that for him a bit with REI or just make it a bit more comfortable when we get there. I'm just getting started on this journey but am hoping to make my first deal in the next 6 months. My initial thought is LTR single family or small multi, though I'm not opposed to short or med term rentals.

My primary question has to do with LLCs.  I've seen several posts about them not being necessary at the beginning of this process.  Is that true even if you already have significant assets? My husband is a physician and we have a couple homes, stocks, other investments, etc.  I worry that a disgruntled renter could see potential deep pockets if they did their research.  Can you share some good learning resources for that aspect of things.  Is that my first step? I don't want to risk what we have built, just because I got impatient to get to retirement. 

The other overwhelming thing is just nailing down which market.  Travel isn't easy or direct for me to anywhere- though the excuse to visit somewhere warm is always tempting during the winter!! We have some family connections in Kansas City, Indianapolis, and Provo/SLC Utah which has made me look there a bit.  But I really see this as just business-  I want the best market I can get into.  Also, for those who invest OOS, do you find one market you specialize in or do you tend to bounce around and cherry pick from markets in several locations? 

My next 3 months are devoted to learning, practicing analyzing deals, etc.  So, what helped you be ready to make your first deal? I truly appreciate any thoughts and suggestions.

Best wishes, 

LaShon Evans