All Forum Posts by: Mak K.

@Nathan Gesner Thanks. I am also looking into creating a LLC to put a lein on all the properties. I am doing my homework but I heard it prevents fraud as well as lawsuits as the first lein holder gets priority. But again, I want to make sure all those things do not create layers of maintainence and fees in cpa and lawyers

I am looking at a house which floor is leaning due to foundation issues. Its a two story house (2200 SF). The house is leaning on one side due to soil settlement. The seller has a foundation repair quote for 20K with 1 year warranty.

Any body who has dealt with such foundation issue remodeling. My concern is even if I spend 20K on foundation, once its fixed, the other stuff such as door frames, window frames, cracks etc will need to be fixed. What are other issues I need to account for? 

Once I fix it, would I have challenges in selling the house in the market? If the item is fixed, does it show up on seller disclosures? Because people stay away when they hear foundation issues. 

Does Trust keep ownership anonymous?

Sorry but I never found New Westxx appropriate. First most of the wholesalers I see have issues with pricing. I am not saying all are bad but majority I see is their

comparable are out of wack. Their ARV is not even close by +/- 50%. I had Newly Westxx send me listing where their price was $150K when the lot across the street was listed at $75K and lot next to it got sold at $70K a month earlier. I question them and no answers

Also they listed a property very knowingly that no construction can be done by the city since it was next to a creek flooding. I questioned and they played it dumb.

I did the same analysis back in time. What I figured out was buying new ones has few issues:

1> ROI may be in line with any other old properties- PRO

2> CON- New homes are smaller and smaller lots when compared to other old properties

3> CON- New homes do not appreciate for few years until buyer moves out of that area. Note home builders come and go off the area for 5-8 years.

4> PRO- New homes you do not need to worry about issues as it comes with warranties and new stuff.

But in the end, I ended up with decision, new homes may not be best fit for me.

Can you provide updates on what did you do? I did setup LLC in WY and do agree with more paperwork to maintain. I am looking for another way to do the same thing. Any updates on what you did?

I am from Texas and am having hard time finding the right way to purchase real estate rentals (SFH). I have tried doing TX LLC which is owned by WY LLC. This allows to stay annoymous. The only issue comes is now I have to maintain two LLC structure, their annual fillings etc.

I buy in Cash with no mortgage so I do-not have to worry about banks etc

What are my other options for TEXAS? Anybody having creative ways? How do you structure your purchases?

Hi,

I have one rental property and I am wondering if there are TURN-KEY Inspection services which checks all major items from AC/HVAC, Roofing, Plumbing and other general maintenance issues? If yes, how much does those services cost and what do they inspect?

Hi,

I have a property rental in one LLC and taxes are under those LLC. I need to tranfer that property to another LLC name and going forward it will file taxes under that name.

How does the transfer work? What happens to the depreciation, cost basis on the tax returns etc. FYI property is 3 year old

One method to keep Real Estate anonymous is via WY LLC> TX LLC. If I do not want that route, what is my alternative method to keep my real estate anonymous? What approach do you use to keep your properties anonymous?