All Forum Posts by: Robert Duffer

Hello everyone,

I have heard varying opinions from many friends about asset protection as related to real estate. To get an LLC or "no" LLC is the most common thread of discussion. I thought - why not ask the question on BP?

I was wondering if anyone had strong opinions on the approach to getting an LLC or not to protect assets...(?)

These are interesting times we live in which also weigh into the equation for multiple reasons...

Any thoughts, strategies on feedback would be greatly appreciated!

Thanks in advance.

Sincerely,

Rob

@Linnea Minnema No, but I have family in Vestavia Hills...Birmingham and a cousin in Huntsville somewhere...LOL

@Jan Kerr Hi Jan! Thanks for reaching out! Thanks for the reminder...I was trying to do both (ID and purchase), but it's not necessary...I guess I got into that mindset because the "providers" seem to be wanting to get the properties "on contract" while identifying before someone else buys it/them...If I get on contract is that a strategy ? What if I change my mind before we close? Is that possible - to "get out of the contract"? Are there any negative consequences or penalties? - My apologies for what may be naive questions...

Thanks in advance!

Rpb

@Dave DeMarinis Hi Dave! Thanks for reaching out... Huntsville is in 35805 and 35810. Looking for cash flow...hold for 5 yrs +...

I sold my original property because it was in Maryland and I have been wanting to sell for a while, my tennant liked it and wanted to buy it so it was a "win-win" to get the equity out and start investing.

Any thoughts?

Rob

@Linnea Minnema Hi, thanks for reaching out. In Birmingham I'm looking into Adamsville 35810. The Huntsville ones are in 35805 and 35810...?

Any thoughts?

I'm at the crossroads and have to decide today...I have a couple of properties in Birmingham area Alabama selected for a 1031 exchange, I have one or two more I can add and am in analysis paralysis between selecting in a nice neighborhood (different than my others) in Birmingham area or selecting in Huntsville (nice area too) - I have to try and make a choice sometime today or the weekend) - any advice or thoughts? 

Analysis paralysis is real...LOL Help!

Thanks in advance, Rob

Hi everyone,

Does anyone on this forum have any opinions or experience in investing in either of these areas? Hobart Indiana or Hammond Indiana?

Google earth ...doesn't flatter the surrounding area and I haven't heard too many positive experiences about Gary which is in between - somewhat. Any thoughts?

Thanks in advance,

Thanks @Mark A Story - really appreciate it! If it goes through, I may take you up on the offer!

Cheers,

Rob

@Jeremy Denmon Thanks for the advice...! Funny you mention NY - I have family in both Buffalo and Queens NYC. I didn't think REI would be profitable there...I wouldn't mind exploring a bit.

Cheers,

Rob

@Ryan Blake Thanks for the insight...great advice! I'll be doing additional homework based on it!

Cheers!

Rob