All Forum Posts by: Marc Ramsay

@John Prucha I've still got my guy fully employed for a while yet. Not inclined to share him out and have him distracted while I still need him to get work done. :)

@Brian Brusich send me your email address and I'll send you what I have.

@Andrew Taylor My contact email is in my signature. Send me a message anytime. We can get together for coffee/drink and talk shop. Cheers.

Andrew;

Every tax accountant I've spoken with agrees that as a Canadian you don't want to hold US real estate in an LLC directly. There are some serious tax implications. That said, I have all my US properties in LLC's, but all my LLC's are owned by a US C-Corp. Even then, the taxation can be nasty, but I have options that allow me to avoid them that I do not with an LLC. For my investing strategy it works well.

Make sure you talk with a good tax accountant who knows how all the different ownership models affect your taxes. If you are only investing in 1 or 2 houses, it may be worth just owning them personally and ensuring you have good liability insurance.

There are a lot of different ways to accomplish what you need to do.

@Darren Soares, I am still looking for better options. I'll let you know if I find anything.

Thanks @Darren Soares!

@Michaela G. I guess you had to be there. The whole way the guy said it was funny. I was actually more concerned with him drawing fire towards my property and my tenants and would rather he stayed out of sight instead of aggravating the lady with the gun any further, which is what he did after we talked.

Here's your humor for the day. I'm working away in my Cleveland rental office and I hear a loud bang. Don't think much about it. I head outside a while later and there's this guy standing in my parking lot yelling through the fence of a property that backs on to the parking lot. It turns out he's yelling at someone across the street from that house. So, curiosity gets the best of me and I ask him what he's doing on my property as he's not a resident, and he says 'The b*tch tried to shoot me!'. So, trying to stifle a laugh, I ask him to leave the property as I don't want any issues for my tenants. I also asked him if the cops were coming and he says he's waiting over here until they show up. Fair enough... Just another day in Cleveland....

@Matt Motil The funny thing was, 2 of the buildings were ones I flipped years ago. When I did the proforma's on them, there was no way they could even justify $35K per door. 

@Eric Booker, apparently it's booming. I just saw a portfolio listing of EC apartments at $35K a door. Unbelievable. Somebody is pretty ambitious and looking for an investor who doesn't know better.. :)