All Forum Posts by: Pedro Claussen
Pedro Claussen has started 1 posts and replied 5 times.
Post: New Member Into
- Attorney
- Houston, TX
- Posts 5
- Votes 1
@Daniel Tanasa thanks Daniel!
Post: New Member Into
- Attorney
- Houston, TX
- Posts 5
- Votes 1
Quote from @Philip Barr:
Good to see a fellow attorney on here, and congratulations on starting your real estate investing journey.
To mitigate personal liability, ownership of investment properties is often transferred to a limited liability company (LLC) via deed. It is generally recommended that the LLC be formed in the same state as the property, allowing for smoother legal recourse. By placing the property in an LLC, any liabilities associated with it are generally confined to the entity, helping to insulate personal assets.
For added protection, individual rental LLCs may be held under a Wyoming holding company. Wyoming is recognized for strong laws that help shield business assets from personal creditors and liabilities, offering an extra layer of defense.
These are just some basics and tips for the legal side of things.
Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.
Great tips Philip! Really appreciate it!
Post: New Member Into
- Attorney
- Houston, TX
- Posts 5
- Votes 1
Quote from @Jacob Hill:
Hey Pedro,
Get connected with a wholesaler, they often have discounted off market deals.
Start small and learn as you go.
Goodluck with your real estate journey.
Thanks, Jacob! Do you have any tips on how to find wholesalers here? I’d really appreciate any advice.
Post: New Member Into
- Attorney
- Houston, TX
- Posts 5
- Votes 1
Post: New Member Into
- Attorney
- Houston, TX
- Posts 5
- Votes 1
Hello everyone! My name is Pedro and I’m brand new to real estate investing. I’m a young attorney based in Houston, just starting to make some real money and eager to invest it wisely. I’m looking to start my real estate journey with long-term rentals and potentially flipping houses.
If you have any helpful resources, tips, or insights on how you got started, I’d greatly appreciate it. Looking forward to learning from this community and connecting with fellow investors!