All Forum Posts by: Nicholas Patrick

@Joe Splitrock Aged 23 and haven't started the REI journey as of yet. Hoping to get my first property by the end of the year, and have a goal in mind of quitting my day job by the age of 35. I might not ever retire in the traditional sense though.

@Joe Splitrock Haven't started the journey yet, but the goal is to quit my day job by 35-40 years old depending on how much I like my subsequent jobs. I will officially retire when im too old to do any of it, i guess.

@Lee Yoder Deal or no Deal by Real Estate Investing for Beginners OH/KY.

Thought I would give it a shot. Looking for the right meetup for me to network, learn, and grow with.

@Lee Yoder Thanks for responding and for the advice. I am attending a virtual meetup this Friday, and will also look into the meetup you mentioned. I am so excited to get started.

Hello all,

I introduced myself to BP a while ago, but am just now at the point of beginning my real estate investing business.

I am originally from Metro Detroit, and just finished my bachelors as a finance major this past April. After settling down into my new area I am finally looking to invest in real estate.

My goal is to find a small multi-family property financed with an FHA loan, and grow from there.

Would love the chance to connect with other aspiring and experienced investors especially from the Cincinnati area.

Thanks for reading and happy investing.

Nick

If i had lets say a WY holding manager managed LLC with subsidiary LLCs in the state that I invest in that are member managed with the holding LLC being the only member.

Would this make it more difficult to find and secure financing options? Anyone have experience with anonymous LLCs?

Thanks in advance.

Hello @Brian Eastman,

Thank you for getting to my inquiry so quickly. I am pretty green regarding this topic, and looking for guidance. With my question, I am actually looking for the best way to protect my personal assets from lawsuits and such. However, I have money inside and outside of my 401k that i want to invest with

 https://www.mysolo401k.net/the-process-of-investin...

This is an article i was reading that might better explain what I am trying to say. How I understand it is that money is funneled from the 401k into the LCC so you can invest with protection.

My biggest concern is protection my personal assets though.

Another question i have is, is the 401k attached to my personal name or to the company? Writing that, i guess that is what i should have asked in the first place. If there happens to be a lawsuit, am i personally on the hook for real estate that is inside the 401k? 

I want to set up a solo 401k (from my regular 401k) after I quit my job and go into real estate full time. I understand how to do this and that's not my question. However, I have personal savings outside of my 401k that I also would like to invest in real estate. I want an LLC (or something else?) to protect me personally in every situation.

So do I need to set up two different LLCs? One funded by my 401k and another funded by my own personal assets?

Would like to know more about self directed 401k under an LLC. Any insight on the topic would be wonderful, thanks.