All Forum Posts by: Nikhil Mascarenhas

 Personal assets (home, car) and W2 income. 4 Single Family rentals, and looking to scale up

I have about 4 properties out of state and I live in California. I'm interested in learning what others in a similar situation use for asset protection from potential lawsuits. Here are some strategies I've come across:
- separate LLCs for each property (or a series LLC). This has a lot of administrative overhead, the LLCs being disregarded entities may pierce the corporate veil. But most importantly, you'd have to pay the $800 foreign LLC fee in CA.
- one single LLC - easy for administration, but defeats the goal of asset protection.
- trusts - deeding each property to a separate land trust each and then the land trusts in turn grant beneficiary to an operating LLC. Still wrapping my head around this - but it is complex and not sure how banks deal with this when you try to refinance. 
- do nothing, hold in personal name but ensure you have sufficient Umbrella coverage.

Do you use one of the above? Or something else entirely? Would love to hear from other pros.

Note for future - Ensure your leases have a lease break fee, 1-2 months rent that the tenant needs to pay in order to terminate their lease early. The lease termination fee needs to be paid at the time they request this, do not substitute the security deposit for this purpose.

This will ensure compensation for time, money and effort needed for a tenant turnover, including advertising and showing costs, regular repairs, utilities during vacancy etc.

I'm by no means an expert but dabbled in BRRR this year. Would love to connect

😁 Nikhil Mascarenhas
🧠 What would you consider your area of expertise - real estate related or not!
Analytics and Data Science - I can geek out about numbers and data. I have invested in a few deals out of state

🙌 What are you most looking to get out of BPCON 2024
Networking - looking for people who invest out of state and how they operate. Also looking to understand strategies for asset protection while investing in different states.

🤝 Fill in the blank: If I could make a great connection with someone who is an expert in __Asset Protection_______ at BPCON2024 then I would leave BPCON happy

🗓️ What session are you most looking forward to? Reminder: here's the event schedule
Flip properties out of state with High Interest Rate

 I'm landing on the 5th, and have the 6th open since I have not registered for any of the workshops

 I'd be down to go there on Sunday morning as I have not signed up for the workshops

@Noah Bacon - I have the same question as the poster. Can changes be made to the reservation to add the second person later?

Hi All, 

Excited for my first BPCON this year! I am a 30 year old technology(data science) professional who has been dabbling in real estate as a side gig. I just closed my 3rd deal this month and looking to network and learn a lot during BPCON. Unfortunately I will be travelling by myself and could not convince anyone to attend with me. To keep costs low I'd like to find someone who shares similar goals to split a Garden View or Ocean view hotel room. I am clean and tidy and will treat the room as a quiet space, but would love to hangout at the events and make new friends.
Please message me at the earliest to take advantage of the early bird deals, we can get on a call for a quick chat!

Name: Nikhil Mascarenhas
Gender: Male
Accommodation Preferences: Garden View Room with 2 beds
About Me: no allergies and no pets. Outside of real estate and data science, I love board games, cooking, classic rock music and travelling (might travel around Mexico/Cancun if possible). 
Contact Preference: DM me, reply here
Additional Comments: Let me know if you have any others questions for me!