All Forum Posts by: Ross Benedict

This is a little off topic in regards to real estate but I've had such positive experiences on bigger pockets I'm hoping someone can share some insight with me. I currently work as a physical therapist part time for a hospital and also work as an independent contractor ("1099 employee") for two other companies. As I'll be paying my own taxes this year I would like to start taking advantage of certain write offs. I should also mention I currently have my own liability insurance as a practitioner. My question is does it make sense to start my own business such as an S Corp or LLC in order to reap more benefits as an independent contractor even if I would be the only employee? Or can I still take advantage without starting my own business in order to lesson the quarterly tax blow. Any feedback would be greatly appreciated, thank you!

@Darren Eady thanks man, I'm certainly beginning to learn that there are a number of different ways to go about this process. I appreciate your response

@Nick Howe thank you for the reply. Yes I've read that the only downside to doing it that way is the possibility of triggering the sale purchase clause, however as you said maybe it is more common than not. My I ask what specific banks you have had luck with? Thanks again and congrats on getting ready to close!

Hi guys. I am currently doing my homework on how to obtain a loan under an LLC for a property that I would like to buy and rent out. From what I have read on the BP forums on this topic it seems as if your best bet of achieving this is going through a smaller bank and not your typical larger national banks. Wondering if anyone in the south Florida real estate game has any suggestions on specific banks that may be more apt to work with me in achieving this. Thanks again for any input folks

Adding to the above...for a beginner does it make more sense to start with condos or townhomes with lower HOA fees in order to avoid the cost and responsibility of maintaining the outside of a single family home? Or is there a decrease in profit that doesn't make it worth it? Thanks again guys

Hey everyone, I'm currently researching the idea of buying and holding residential real estate as a means of secondary income as I currently enjoy my day job. I have read the real estate guide for beginners on the BP website (which was very helpful). In terms of starting the process does it make sense to start the whole process by forming an LLC or something equivalent before beginning the process? Not familiar with the ins and outs of the whole real estate game. Any feedback would be greatly appreciated. Thanks!

hi guys, quick question for anyone that can help me out. I'm currently beginning to dabble with the idea of buying and selling vacant land. As I already work this will start as more or less a hobby as I learn the ropes until I get to the point that I can make it a lucrative second source of income. For the time being should I be concerned with starting some sort of LLC. Obviously not at the point where this is any type of business yet but I want to be sure that my personal assets are protected. (I should add the current plots i Will be dealing with are only around 3-5k as I get started. Thanks for any info anyone has!

Anyone have any advice on the process of buying foreclosed raw land? Trying to look into all possible niches of buying undeveloped land. Any opinions on which foreclosure sites are the best for finding these parcels? Thanks  

@Guy Gimenez thank you again for the info! 

@James Wise  thank you

@Guy Gimenez  thanks for the info, I am certainly the type that will do deligent research before jumping in. In terms of finding a good title company to work with what would you suggest. I would assume like anything else in this world there are both good and bad companies out there. Thanks again