All Forum Posts by: Rene Rindik

Hey everyone!

I am thinking about purchasing land for the intention of using it as a RV & Boat Self Storage.

Before picking out land, there are a few questions that I have that I would love to get some insight on.

I do not currently have an LLC. I know I will need one for the actual storage facility. - but when it comes to purchasing the land, I am not sure what the best route would be.

Here are the options that I have been thinking about:

1. I could purchase/get a loan for the land in my name.

If I did this, I could then transfer the land to my LLC or allow the LLC to lease the land from me for the storage facility

2. I could get the LLC first and allow it to purchase the land then develop it for the storage facility

3. The other option I was thinking of is I could open 2 LLCs. Once could purchase the land (and potentially other land/real estate in the future). Then have the Storage facility LLC lease the land from the real estate LLC.

I am very new to this idea, so it's possible that one of these options just doesn't make sense. Any insight anyone has into which one of these strategies would be better than the other as well as other pros and cons would be very helpful!

If you yourself have invested in this type of business, I would be very interested in networking as well!

Thank you in advance for any insight anyone is able to give!!

I am currently searching for my first investment property. I plan to live in this house for a year and then rent it out long term after that. I found a property where the numbers work, but it turns out that it has an HOA. It appears in the covenant that they do allow leases as long as they are 6 months or longer. Is this a property that you would even consider due to the HOA? / If you have a rental property with an HOA, what has your experience been like. I want to know what to expect!

Thank you!