All Forum Posts by: Account Closed

Lets talk, not sure how we accomplish this

sdrawdy57gmail

My business partner and I are in the process of buying 200 doors in Chicago Southside.

Does anyone know a good property manager?

I recently put my property into an LLC in Nevada as I thought this state offer better protection from litagation than a Calif. LLC, which is where I live and the property is located. The annual fees are high at $550 plus the in state agent of $197.

What are your thoughts? Is it worth to pay these high fees for the supposed higher protection?

My main source of income is now from my rentals. The question I would like to ask is  there a thought on who makes the best renters.

 Shld we be concentrating on low or high end?, millennials or baby boomers

In an economic downturn, what types of renters are least likely to default on their rent payments?

Is it better to leverage or pay down existing mortgages?

Buy new properties to offset rental income with depreciaton write offs? meaning leverage more to gain more depreciation write offs

Thanks for all your responses, I realized after I posed the question it did not have much detail.

Cash flow is most important to me, more so than appreciation. I have purchased SFR, multi units, and a "boarding House" . I purchased several years ago and noticed that cap rates on these small investments properties, 6 units and less now have lower cap rates . New to this "discussion stuff" so bear with me.

I am looking to purchase more but am discouraged by the cap rates here is San Diego

San Diego has pretty low cap rates in 4-5% range.

Where can I find higher rates around 7-10?

Congrats,

question as I do a lot of IRA investing in RE. How were you able to convert your 401K to a Roth and not a regular IRA.

I ask only because a ROTH withdrawal is tax free( after 62) but the monies going into a ROTH are not tax free, so how did you avoid a tax hit