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All Forum Posts by: Scott Garrels

Scott Garrels has started 8 posts and replied 38 times.

Post: Starting an LLC - who you gonna call?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7
Originally posted by @Jerry W.:

@Scott Garrels if you just need to create the LLC and do not need the legal advice or operating agreements drawn up, there are literally hundreds of places who create them for you cheaply, and they serve as your registered agent as well. I mean cheap like $50 or $100, over the filing fees.

@Jerry W, thank you for your reply.  It is very helpful to better understand some of the options out there for this type of service.  I will certainly look more into this one to save all the $$ I can.

Post: Help me analyze this deal - is it any good?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Post: Starting an LLC - who you gonna call?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7
Originally posted by @Emeline Faaumu-Niutei:

I am taking a RE course right now and the topic of starting a LLC is covered but I cannot share that info here. He also discussed the importance of buying the houses under the LLC. And of course, seeking an advise of an attorney is always the best way to go about,

Thank you for your reply here as well.  I would love to find out more about the course you are taking and if you feel there is value in attending something similar in my area.  I know that seeking more insight will be part of this specific task and identifying a good attorney is always key.  I will reach out and see if you have any more to share.  

Thanks again,

Scott

Post: Starting an LLC - who you gonna call?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Bill S. Thank you for this reply.

I know that I said quick search and so I did suspect I would need to dig a bit deeper. I really appreciate your guidance here and will continue to reach out and make more connections.

Thanks so much once again.

Post: Starting an LLC - who you gonna call?

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

I have heard it is best to purchase properties through an LLC. Some quick searching suggests setting this up in Wyoming or Nevada is a good idea. Is this true and if so, who are good folks to call in order to get started?

Post: 48 Unit cash cow in Des Moines

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Matt DeBoth

Congrats on what sounds like a great property and a great deal.

I am in Cedar Rapids and would love to connect to pick your brain a little.

Let me know if you wouldn’t mind sharing some of your experience.

Either way, great job!

Scott

Post: Newbie best practices

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

@Eric H. Thank you for the insight. It is truly appreciated.

Post: Newbie best practices

Scott Garrels
Posted
  • Rental Property Investor
  • Cedar Rapids, IA
  • Posts 38
  • Votes 7

Hello all, I am just getting started on this journey and am wondering which strategy is best to begin learning this business? Also, what would the experienced investors out there consider to be the most valuable skill(s) for finding profitable deals?