All Forum Posts by: Ryan Stover

Yes, I would do that and I would actually keep the room open so that the place is my domicile. I could even get a Texas driver's license and Texas Bank Account. But, if I stay in CA under the radar, would that be fine? Does CA do crazy audits of phone GPS and credit card transactions?

Hey BP fam,

I love living in San Diego. Friends, family, surfing. BUT, as I've heard "Hate Taxes? Love Texas!"

1.) Could I buy a house in Austin, rent out all of the rooms except my room, and change my residence to TX? I want to do this so that my properties in Oregon will be taxed at the TX rate rather than CA.

2.) Could I live in my parents' old house in San Diego, right under California's nose, so I get all the benefits of California (weather, surfing, friends/family)?

Thank you and Happy 2021!

It would be similar to a Series LLC but structured as a DST. My colleague did it like this and has avoided CA stacking $800 FTB fees https://royallegalsolutions.com/product/delaware-statutory-trust-for-real-estate-investors

Above, David says you pay income tax where you live, even if your LLC and your properties are located in different states. That would make sense, but are you saying I'm clear of income taxes here in CA because my properties incurred 0 income tax?

Thanks for the info @David Disraeli. I've been looking into Series LLCs for anonymity and creating multiple LLCs without multiple $800 FTB fees. I've seen testimonials in the forums on how well they work. Hopefully this is the case for me (fingers crossed)

@Account ClosedThank you for the reply. I like all 3 of those states, I think they have terrific politicians in all of them that will steer the states the right way, attracting more employers and employees. If you don't mind my asking, o you use a Series LLC?

I haven't found much direct info on the benefits of investing in properties located in states like Texas, Washington, and Nevada. I assume there must be positives even though I am a resident of CA.

Would REI in these tax-free states help me somehow? I'm planning the formation of a Series LLC, probably located in TX or DE.

Thanks all. Working to build slowly but surely in 2020.

-Ryan

This was a terrific thread to read @David Pascual . Did you end up getting a property?

The biggest question I have is, how much will the ARV come out to? You can confirm lending before buying but can you estimate an accurate ARV by simply looking at realtor.com, zillow.com, etc neighborhood values? Is there an appraiser that would give an estimate prior to rehab?

Thanks y'all!

-Stove

@Scott Smith thank you for your response!!! I am looking into it now and seems like a very feasible option for me! @Katie L. this might be another option for anyone you work with as well! Thanks again Scott!

Hello @Edita D. what did you end up doing for this? I have the same situation brewing. I will have Nevada based rentals, not CA.

I think my involvement will be 100% passive. Would the safest route be a Series LLC in CA then a bunch of little LLCs for each property in Nevada?