All Forum Posts by: Ronald Rohde

Tiago Title for residential, Thomas Title for commercial deals. Let me know if you want introductions

I wouldn't structure it this way. If the investor is putting all the money in, they should own the LLC that has title to the property. The OP is not putting any skin in the game. He can be a manager of the LLC with power to bind, but it doesn't read like a loan situation to me.

Of course, open to discussion @Jerel Ehlert

 Thanks Tim. Yes, I'd be happy to help. 

U Haul posts good net moves

Arrivals accounted for 50.3 percent of the Lone Star State’s one-way truck traffic

PHOENIX, Ariz. and HOUSTON, Texas (Jan. 8, 2018) — Texas continued its reign as America’s No. 1 Growth State during 2017, according to U-Haul data analyzing the past year’s U.S. migration trends.

Growth States are calculated by the net gain of one-way U-Haul truck rentals entering a state versus leaving a state during a calendar year. Migration trends data is compiled from more than 1.7 million one-way U-Haul truck rental transactions that occur annually.

Florida, Arkansas, South Carolina and Tennessee rounded out the top five, and North Carolina was seventh, continuing a strong growth movement in the Southeast. California overtook Illinois on the list as the biggest net-loss state.

Texas year-over-year arrivals of one-way U-Haul truck rentals rose 1 percent while departures climbed 3 percent from the 2016 numbers. Some of the state’s increase in overall U-Haul transactions can likely be attributed to an active hurricane season.

Despite a larger year-over-year increase in departures, arriving trucks still accounted for 50.3 percent of all one-way U-Haul traffic in Texas to maintain its status as the top net-gain state. Texas secured the No. 1 growth ranking for 2016 after settling for the No. 39 spot for 2015.

While migration trends do not correlate directly to population or economic growth, U-Haul growth data is an effective gauge of how well states and cities are attracting and maintaining residents.

McKinney, Prosper, College Station, Temple and Kaufman paced Texas’s net gain of one-way U-Haul trucks. Austin, Midland, Pflugerville, New Braunfels and Irving were among other notable cities to post strong net gains.

“We say that everything is bigger in Texas, and you’ve heard the slogan ‘Texas Strong’ during the (Hurricane Harvey) recovery,” said Matt Merrill, U-Haul Company of West Houston president. “We’re not waiting for anyone to come with handouts. Everybody is helping everybody. We know that it happened and we know what we went through. But you wouldn’t be able to go through today and see that a hurricane hit. The recovery has been handled well.”

U-Haul is the authority on migration trends thanks to its expansive network that blankets all 50 states and 10 Canadian provinces. The geographical coverage from more than 21,000 U-Haul locations provides a comprehensive overview of where people are moving like no one else in the industry.

The arrival of U-Haul Truck Share 24/7 is revolutionizing the moving industry through its more convenient, more secure way to pick up and return a truck. U-Haul live verification technology allows rental transactions to be carried out entirely on a smartphone at any hour – day or night. There are no membership fees. Simply visit uhaul.com to create an online account.

U-Haul Growth State Rankings for 2017

1. Texas

Condo conversion, its not that difficult from a procedural standpoint. You'll likely have to evaluate changing the footprint of each unit. Assuming 1,2,3 bedroom mix of apartments won't be the exact unit mix for owned units. So factor in the re-shaping of some interior walls.

Replat for new deeds and sell the units. Are you trying to incorporate any rental management feature?

Probably not likely with any sort of design. You can get some fly by night GC, but projects in Dallas will be closer to $90-95

Makes me glad i don't want to build in CA! Be sure to review any contracts for scope and change orders. The more turnkey a vendor is, the more important you understand what they will and will not cover.

 I disagree, I care about the likelihood of actual closing. Many wholesalers have no skin in the game and if they can't find a Buyer--tough for Seller. They just walk away and you've wasted time and energy on an unenforceable contract.

The quality of the contract is huge, same reason why cash offers are stronger than financing.

 Understand, its really not that simple though. You have competing goals of "reduced liability" and easier tax burden. Those are often in direct conflict. The easiest tax return is sole prop individual return. That is also the highest liability. Start adding in LLCs and you gain protection at the expense of tax complications.

You can freely allocate costs to either party. I would say your tenant due diligence is what mitigates your risk. LL incurs all the costs to build the structure, rent is the same as if it were a completed building from day one.