All Forum Posts by: Toni Conway

@Todd Rasmussen 

@Carini Rochester

@Robert Frazier

Great.. this all helps me confirm the "self directed" route is where I'll go.  Thank you for the reassurance.  Sometimes all you need is a little verification from those that have done it before!  I appreciate you taking the time. 

@Karl B. that's great to hear... thank you

@Bob Okenwa totally get that.  thank you for what you have offered from your experience.

@Bob Okenwa

I should have offered much more detail; thank you for asking. I am the only person in the LLC; single member owned. It seems that even with the Articles and the Operating Agreement requirements, I could do the ongoing "management" of that myself.

So, it seems to come down to whether there is "something" hidden that an attorney offers me that I could not do myself other than expertise for the unknowns that cannot be found on line.  

The other question is related to a commercial vs non commercial registered agent.  I see they are not "offered" in all states; one of my states (CA) does not allow it which means I would have to use my own address and that is something I've been cautioned against.  Do you know if there is any real concern with that?  (I know an attorney offers this service as well but trying to avoid paying $250+ for just an address service).  

I appreciate the feedback from people that have done this... thank you !

I'm very curious what this team thinks of hiring attorneys for forming an LLC vs doing it yourself on line?

I have talked to several attorneys in 3 states (since my homes are in 3 states), and done some cost research on line for "do it yourself" formation as an alternative.  

It does not seem to be very difficult nor does the ongoing annual maintenance of the "business" seem out of line for what I can do myself.  

Am I missing something that an on line do it yourself option might be missing that an attorney will do for me to justify hiring someone vs doing alone?

Thank you so much for your advice!

@Ashley Gantt I would be very happy to participate in this. I'm planning to move from LTR/STR to MF this year and haven't yet fully analyzed any MFs. I'd love group think on this. Thanks for generating the idea.

@Chris Seveney This is great information!  Thank you for sharing this perspective... I have more homework to do with this.  It's an option that I had not considered based on what the "majority" says about exposure.  I'd be very interested in more specifics about the insurance wording.  

@Chris Seveney how many properties do you have and in how many states?  Is your situation the same?  I also have an Umbrella policy right now (they say they cannot add new properties until renewal so that was a little sketchy) and have relied on that for a few years.  

Is your decision to have just one LLC (with potentially multiple properties that could be attacked in a litigation) due to just trying to remove you personally?

Thanks so much for your insight. 

Hi all... I've read several posts on an LLC search but have not found "the one" that helps decipher the dilemma around creating 1 LLC for each house vs 1 LLC in each state I'm investing in and putting all homes in that LLC.

I have seen the comments on Series LLCs but am still struggling to analyze that impact to the pro's and con's as well.  

I'm looking for insight from this community: I have 2 LTRs in TX, 1 STR in Tahoe, and 2 homes in NC (1 STR and 1 LTR). I have been plotting scenarios for these options:

1. 1. 3 LLCs (1 in each state) with 2 homes in each
2. 2. 4 LLCs (splitting the NC homes since one is STR and one is LTR with logic that "more risk with STR" could be beneficial to keep it separate
3. 3. I'm sure there is a series LLC option, but this is the one that I'm least familiar with

Any helpful advice or pointers for analysis would be immensely appreciated. 

Thank you in advance!

I'm so sorry to see this; do you have an alternative method for crypto currency that you do recommend?  Coinbase is definitely an easy to use platform which might be what lures those of us that are new to the crypto trading world.  Appreciate you sharing your story.  

I have a couple LTR/SFHs that I am carrying a Landlord policy on but recently my HOI carrier quoted me ACV instead "due to the age of the home".  I've done some research on the differences, but wonder from this amazing community, which is better.  

The home is a BRRRR in NC built in early 1900s. Is there significant benefit to carry one policy type over the other? Thanks in advance :-)