All Forum Posts by: Mark Douglas

@Deanna McCormick  thanks for the feedback !

@Rosston Smith  Thanks Rosston !

Anyone have a good experience with a particular firm/company in town? Looking for advice on LLC vs. Trust formation

@David Repka Is there a minimum amount of time the LLC has to be open/active for before applying for commercial financing?

If I'm marketing online (Realtor, Hotpads, etc) with lots of photos, can I wait to show until I take applications?  I'd hate to waste time showing to people who may not qualify. 

SN: Are open houses for rentals very effective?

@Tyler Sterns  @John Thedford thanks guys, sounds like a strong insurance policy will be ok for now. I heard on podcast 196 that having an LLC isn't really necessary if you don't have many assets (which I don't at this point, just one duplex with very little equity)

@JD Martin  that definitely makes sense.  I'm not making any money till it's finished, and I'd hate for the whole process to be pushed back for something like that.  Think I'll hold off and just finish everything first

@Josh Miller  good point.  It's a rental.  I'm leaning towards finishing because I want to be sure that they know all of the finishes are final, that I didn't plan on switching to granite counters at some point lol.  Just another issue I could avoid down the road.  For sure, if it were a flip, I'd like to just post the final product to get the best offer.

Thanks !

How do you purchase a property in an LLC if banks aren't very willing to do that? Does it just have to be an established LLC, showing consistent income for "x" years?

Do most investors take the risk of purchasing in their names and transferring it later?

Thanks !

I'm a few weeks from finishing a unit (almost a complete gut job, took longer than I'd planned!).  Should I just wait till it's completely finished to start advertising on Realtor, Zillow, etc?  I want to include photos with the ad, but I've seen some new construction apts going up that start taking applications before the building is completed.

Pros and cons?  Does the pool of applications seem better overall when there are photos?

Thanks !