All Forum Posts by: Trevor White

Awesome -  thanks for the feedback everyone! It sounds like it might be worth meeting with a local lawyer and/or a CPA. If anyone has any recommendations for either in the Baltimore area, I'm open to suggestions.

Thanks!

Hi all,

I currently have an LLC from a prior business where I sold things on eBay. The business is still active; however, I'm not ordering any new inventory and plan on stopping operations when all my current inventory is sold. My question is, can I use my existing LLC to hold real estate investments even though it is listed with the state as a company which does e-commerce? I would likely do a DBA or rename the LLC since the current LLC name doesn't make much sense for a real estate company.

My next question would be if I keep the LLC as is and just do a DBA - should I keep a separate set of books for the DBA? or does it need to all be in the same set? I currently use Quickbooks online for the eBay part of my LLC and I worry that if I start putting in real estate transactions it's going to make the chart of accounts confusing. I also have a bank account and credit card using the current name of the LLC.

I'm happy to provide additional details if needed. Just looking for additional guidance. I live and operate in Maryland, btw.

Thanks!

Trevor

Hey everyone,

I'm Trevor and I'm new to the site. A little bit about me, I moved back to Maryland a little less than a year ago. I spent 5 years or so in Morgantown, WV studying at WVU. After finishing my undergrad and my MBA I took my Series 7 and 66 exams and became a financial adviser in the Columbia, MD area for about 6 Months. During that time I landed an interview with Nasdaq in their Rockville, MD office and began working there as a Market Analyst around December 2014. 

Since I'm done with school, single, and have no kids, I've got some free time on my hands. So why not look into Real Estate Investing? I have been investing in the stock market since 2008 and I'm pretty pleased with my portfolio at this point, however, I'm looking for investments I have a little more control over (you'd have to buy a awful lot of coke to make their stock price increase). 

My only experience in Real Estate comes from owing a few REITs in my portfolio and via my father. My dad grew up doing construction, and currently has his own cabinetry and custom mill-work business. He did a few flips in the area when we were younger (which I helped out with as much as a 12 year old could) but hasn't done much since. 

I'm primarily looking at buying multifamily homes in/around college towns. Since I spent the last 5 years of my life in a college town and renting from different land lords I'm most familiar with that type of operation. I also wouldn't turn down an opportunity to do a flip in my local area if the right opportunity were to come up.

I'm looking forward to getting to know you all and seeing where things go from here!