All Forum Posts by: Tony Sierra

Newbie here, learned a lot. Will definitely pick up a copy of J Scott's book. Glad you found a reasonable quote @Sam Alberry. Keep us updated.

I dont think marijuana is very harmful either. Probrably less than my drug of choice...caffine! Still its illegal so I would say something, nothing harsh or threatening but address the situation. Wouldnt want to be seen as the "chill" landlord but wouldnt want to be unreasonable and overreact. 

Newbie here also but I believe that if your properties are well cared for and competitively priced they will rent. My area is even smaller but I still see rentals go quick. I would continue researching and maybe try to find someone in the area who is in the real estate game. 

Tony

Thank you everyone for the replies. @Brent Myotte I did not know that, very valuable information that I will look into. 

Thanks @Edward B. you answered my question, sorry if it wasn't clear. What I was wondering was why or how someone would have an LLC to manage their rentals if the rentals were not held by the LLC. So some people do manage their rentals under an LLC and they do not transfer the ownership of the properties.

@Edward B.undefined

I was speaking to a friend who owns a few single family rentals. He has an LLC for his business but he stated that he does not have his properties in the LLC, he financed them and holds them in his name. I hear all about the LLC issue, due on sale clause etc. Can someone shed some light on this for me? I have read about this issue and used the search function but I am still confused. I get that moving your properties to an LLC can potentially violate the due on sale clause. What about holding your properties in your personal name and doing business through an LLC?

My first question on BiggerPockets! I am a college student with little money or credit. I have family members who would be willing to partner with me to provide capital. However I have also been looking into seller financing. I recently found a fourplex that looks promising. The owners are retiring and want to travel. They stated that they are willing to do a land contract on their listing. I am still in the preliminary stages of looking and learning but would like to take action soon. When is appropriate to ask what kind of terms they would be offering for seller financing? I dont know if I am overthinking this but I feel like it might be better to see the property and meet the owner before jumping to seller finacing terms right away. However the terms may kill the deal right away if they dont work for me.

I am living in West Branch and going to school in Midland, would be interested.

I appreciate all of the responses. I have been getting a lot of valuable info from the podcasts. Any tips on finding an REI group? @Johnathan Alesso thats funny you mentioned Livonia I lived there for a few years. I think I will start out focusing in my area and Midland MI where I go to school. 

Excited to be part of the Bigger Pockets Community!

Hello new member here from Northern MI. Im a college student trying to learn as much as I can. Interested in buy and hold rentals and flipping. I hope to take action on my first deal within a year.