All Forum Posts by: Vernon Trice III

Anyone in the Huntsville area that is an experienced investor that is looking for help in their business? I am a young aspiring real estate investor and want to learn the ins and outs before I go all the way in. I have time, little experience, some money but most of all determination to perform and set myself up for success in the future. If you need anything Im your guy and hopefully you could teach me something in the process. Look forward to speaking with you!

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Anyone in the Huntsville / Nashville area that is an experienced investor that is looking for help in there business? I am a young aspiring real estate investor and want to learn the ins and outs before I go all the way in. I have time, little experience, some money but most of all determination to perform and set myself up for success in the future. If you need anything Im your guy and hopefully you could teach me something in the process. Look forward to speaking with you!

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Originally posted by @Lien Vuong:

Wait to have one. Have your offer be stated as Your Name and/or LLC to be named. No need to spend money drawing up docs before you have it all set in stone.

Do you recommend one I have the property to have more than one LLC?

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Originally posted by @Scott Smith:

Hey @Vernon Trice III,

I would recommend placing the property in an LLC once you have it. If there is ever a law suit against a property operated LLC you wont lose personal assets - and if there is a law suit against you it will not impact the LLC (as long as you are not committing crimes, since that changes the rules.) Some investors go forward without one, but there is a chance that you could lose it all in a long and drawn-out legal battle. Each person needs to decide for themselves what risks they are willing to take, but I always have my investments protected within LLCs or other liability protection entities.

This article goes explaoins asset protection more generally, I wrote it after answering similar questions in the forums over the last few years.

Just my two cents!

Hey Scott, appreciate the comment. If you have more than one home do you have more than 1 LLC? Is there a 1:1 ratio or does one LLC suffice?

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I am about to have one SFR should I get an LLC or wait to have more?

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Hey BP. Wanted to ask how experienced investors set up owning multiple SFR in terms of bank accounts. Is there one bank account with multiple checking accounts attached to it or just multiple banks with multiple accounts? Interested to see what the answer is because I am about to be there. THANKS!

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Originally posted by @Lien Vuong:

@Jay Hutchinson I am a team lead actually because I started my RE career with a lot of investing experience and a strong network already. For the the value of a team as a new agent is that you have guidance, leads, and training to help you with your first 10-20 deals. The barrier of entry into a RE career is not high but sustaining in the field is the real challenge. Hopefully your team will help you build the foundation for future success and “teach you to fish” if you will.

Lien the future is learning how to fish and not have someone do it for you. Are you attending the conference ? Would love to connect with you and gain some wisdom.

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Originally posted by @Account Closed:

@StevieAnn Nance

I’m from Cali as well! I really want to go but the price is steep. I’m still thinking about it- if I do go I’ll connect with you!

Sounds good! I will let you know!

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Originally posted by @Jay Hutchinson:

@Vernon Trice III That’s the same question that I was wondering. I understand that there is value in being around people that are doing what you are inspiring to do, but when you’re just starting out and your funds are limited, you want to make the right choice.

Exactly and that's the reason for this post. I have received a lot of good responses as well.

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All Forum Posts by: Vernon Trice III

Vernon Trice III has started 22 posts and replied 54 times.

Post: Huntsville Investing Learning Experience

Post: Huntsville / Nashville Partnership?

Post: Should I form an LLC Yet?

Post: Should I form an LLC Yet?

Post: Should I form an LLC Yet?

Post: How to Structure Multiple SFR Bank Accounts

Post: How to structure multiple SFR accounts

Post: BP Conference worth it for new investor ?

Post: BP Conference worth it for new investor ?

Post: BP Conference worth it for new investor ?