All Forum Posts by: Philip Barr

The first step is to get on here and post. You will find some great information along the way, and as you apply it, your learning will grow exponentially from other sources as well.

For wholesaling, I would look to see if the contracts you are entering into have an assignability clause that allows you to assign freely to an end buyer. That will make your first deals much easier. If not, you may considering entering into the contract with a trust or LLC, which you would sell to an end buyer instead of the contract rights themselves.



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.

It’s possible to buy a commercial property without putting money down, but it usually requires some creative deal structuring. Common strategies include seller financing (where the seller lets you pay over time), lease-to-own arrangements, bringing in investor partners to provide the down payment, or assuming an existing mortgage. Some deals also use a combination of these approaches.

If you find a motivated seller, especially one who owns the property outright or is open to creative terms, you’ll have more flexibility. You might also consider working with a local commercial real estate attorney or broker to help craft the deal.



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.

Strategies in FL are getting very interesting given the changes to how property tax reassessments are handled when transferring a property to an LLC. The stamp tax was always an issue with financed properties, but transfers to LLCs with financed or non-financed properties now result in a property tax reassessment. However, trusts in FL provide some protection and can be used in a structure to protect your investments.

Thank you for the information.

Bonus depreciation has been a strategy by investors I have worked with, many of them using short-term renting to their benefit. If you actively manage the property and meet certain time requirements, your rental income might be considered active instead of passive, allowing you to fully use these deductions.

Hey glad to see such a positive post on here.

It was refreshing to see something targeted towards younger professionals looking to get into real estate and out of the game.

One of the things I help clients with is protecting their investments with LLCs, with protection from liability on a particular property or protecting the assets from their own liability.



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.

That is a great star and foundation.

You have a base for the investing side and finding the right opportunities. As you build out your team and professional circle, look for those who can fill gaps. A tax professional to help you get more money in your pocket. A legal team to help you properly protect your investments with LLCs. Sometimes, tax strategy and legal strategy can be married; you can synergize the two to get tax savings and protection.


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.

I agree with Kyle's advice here.

Learning from someone experienced is invaluable.

I would also recommend looking into the local rules and regulations regarding wholesaling in your state and area. Some localities are looking to restrict the practice of wholesaling, such as requiring a license for deals where you appear to be acting more of an agent, brokering deals versus the principal in a purchase agreement assigning their contract rights to another. 

It is important to understand the rules in your area and also follow some typical guidelines for wholesaling, which include: using a valid agreement that is assignable, disclosing in writing to the seller and end buyer that you are not acting as agent and will be assigning the contract rights, not advertising the property until you have entered the contract, and avoiding negotiation on behalf of the end buyr or seller.



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.

Short-term rentals can be a great strategy for building wealth through real estate investing. I would caution that many local communities have passed laws and regulations against short-term rentals, either banning them or curtailing them completely. I would review those laws and regulations before buying a property in a specific area. Beyond that, you have HOAs to worry about since they are trying to limit short-term renting in many HOAs as well.



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.

Nice to have you aboard, no pun intended.

I appreciate those who come on here willing to learn, and there is a vast amount of material here on the boards.

One of the areas that is a bit specialized when it comes to investing in Florida is protection and limiting liability. The reason why things are different there is that if you have financing on a property and transfer it into an LLC, you will get hit with a Stamp Tax. Also, your property taxes can have the tax cap removed, and you can get reassessed. It is recommended to instead use a trust to hold property in FL, since they have protective qualities like an LLC, but don't come with the tax issues.


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.

Starting out as a landlord can feel overwhelming, but one of the smartest ways to feel more confident and stay focused is by making sure your rental properties are protected. When your investments are properly set up, you’ll worry less and be able to focus more on finding good deals and growing your portfolio.

A great way to protect yourself is by using LLCs, or Limited Liability Companies. Think of an LLC like a safety box—it helps keep each property separate from the others, so if something goes wrong with one, it doesn't affect the rest. I usually recommend putting each rental property into its own LLC. This helps protect your personal savings, home, and other properties from legal or financial trouble tied to just one rental.

You can also take it a step further by creating a holding company, ideally set up as a Wyoming LLC, to own all of your property LLCs. This gives you an extra layer of protection and makes it even harder for someone to come after your personal assets.

Of course, it is important to have a well-drafted lease agreement as well, outlining the responsibilities of the parties, the requirements for termination, security deposit, etc., with little to no ambiguity. That will help prevent disputes.


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.