All Forum Posts by: Toni Conway

I’m a rookie that just bought my first two long term rentals in Austin just quickly without a lot of self education first. 
I bought the first one in cash ($290k) and second one with $150k down on $370k house... definitely ill advised and know I need to fix. 
Fortunately both are renting and cash flowing but I’d like to get money out to invest in a multi family #-plex next. 
What advice do you have for the options I can explore and do you recommend lenders featured on bigger pockets or finding someone local in Austin where I'm investing. (Really need a REI mentor big time).
Thanks for your help!!! 

@Katie Lepore

I replied without mention... commenting again to connect the messages.

This is very helpful information and I appreciate the link to your article. I would really like to talk to an attorney about my situation. Do I need to talk with one in my local area? I’m in the bay area but currently investing in Austin. Always open to ideas from experts. Still learning what questions to ask as there is just so much I don’t know. 

@Ronald Rohde

Hi Ron... one is occupied and the other just closed 3/27 so it’s listed for rent.

I’ve gotten a quote for umbrella insurance in the meantime to compare options but would love to chat about details.

@Peter Walther

Good points... I hadn’t thought about that perspective too. Exactly why this forum is so helpful. I’ll check mine out. Thx

Hi Katie... this is very helpful information and I appreciate the link to the article.  I would really like to talk to an attorney about my situation.  Do I need to talk with one in my local area?  I am in the Bay area but currently investing in Austin.  

@Steve Vaughan

Thanks for your advice... can I ask how you hold your residential investments for protection?

@Kenneth Garrett

Ok... now Joes comment makes sense. I own one outright, the 2nd one I have a mortgage. Wet interesting to here the lien perspective. After a lot of conversations on this topic that is one that’s not come up. I’ll do some specific research targeting that question. Thanks.

@Joe Villeneuve

Thanks for your comment but I’m not sure I understand what you’re trying to convey to me. I do appreciate this... could you elaborate?

I’m just getting started with my first two long-term rentals in the Austin Texas area. I live in California and have been told I should have asset protection for my homes. Currently they are all in my name.

Does anyone have good recommendations for asset protection companies? What about a great attorney that could give advice on which direction to go for asset protection?

Thank you for all of your help

I'm new to REI and just closed on my 2nd long term rental in Austin. (I live in CA).

At this point my properties are under my name or the name of my personal trust. I've been told I should not do this and should open an LLC or some other umbrella company for liability protection.

Does anyone have recommendations of asset protection companies whom you trust and could recommend?