All Forum Posts by: Tanh Truong

Welcome! Good luck and great investing!

@Cesar Rangel I HIGHLY recommend getting together in person with @Joe Homs over a coffee for 30 minutes to 1 hour. This man is a wealth of information and is very genuine. I recommend this because I actually had the privilege of hanging out with Joe while in California. 

Best of luck! 

@William Glass Hearing Buffett and Munger speak is a thrill in it of itself. Munger is probably my favorite due to his short (and often funny) remarks. 

Last year, I met up with another podcast group (The Investor's Podcast) and did a bar crawl, which was absolutely astounding in terms of networking. The hosts of the podcast are unable to make it out this year, so hopefully, we're able to coordinate something similar. 

Thank goodness I did a forum search before posting the same topic haha. 

@William Glass This will also my second time attending and I will say @Mindy Jensen nailed pretty much everything. If there are other RE investors at the Berkshire meeting, I'd love to link up! 

@Josh Levan I would second @Joseph Back 's recommendation for Garth and Tri-State Discount Properties. I've personally met him and his team, and they operate with integrity. I have not purchased from them, but having met them, I would wholeheartedly do business with them. 

Here's a link to their FB. https://www.facebook.com/TriStateDiscountRealEstat...

If you would like their email, feel free to DM me. 

BRRRR's are what I plan on tackling next. Congrats on completing your first, and thanks for sharing! Great investing!

Greetings BP Friends!

I am currently having an attorney set up a holding company and an operating company for me. We've discussed various options like Series LLC, land trusts and even setting up LLC's out of state (Texas, Nevada, Delaware), but through his guidance we've decided that staying in Ohio would be best. In essence, the holding company will own Single Member LLC's underneath that own individual properties.

My question would be whether or not I should have a separate bank account for each LLC/property. This feels redundant, but if it's the best way to protect the assets, then so be it. Also, with the operating company, how would the transfer of funds work?

Any info/insight/experience would be greatly appreciated. Thanks in advance!

@Jacob Walls Welcome to BP, my friend. The information here is invaluable and easily helps people get started. I'm also a pharmacist myself in Ohio. I started out reading and listening to everything I could get my hands on regarding finance and eventually landed at real estate. In a way, we're very similar - in search of financial freedom to escape the rat race. 

I got started learning about real estate back in March and closed on my first deal in August. Luckily, I met a buddy in pharmacy school who was like-minded and partnered with me on this deal (and future deals as well). With only one source of income, it would've taken longer to purchase the first property. With a partner, it becomes easier, quicker, and there is less risk. But that also depends on the partner you choose. 

Good luck in getting your real estate license, and best wishes for your first deal!