Bokchee88Participant@bokcheeJoin Date: 2019Post Count: 0
I am about to jump in the water for real estate investing. I have been reading articles, watching videos about real estate investing and read some couple of books,
so much terminology to remember and to understand my gosh :P
I am not sure where to start, single family homes seems really good to approach for a beginner like me. They seems small, one tenant to deal with. This way, i could feel and learn on the go what it is, how to have a investment property.
Multi family can be good to have higher cash flow per year, yet more tenants to deal with.
Do you think is good thing to start investing full time and get out of corporate job?
Mostly i don’t understand is, how do i set up bank account? How do i protect it?
Should i start LLC and then get a property under LLC?
Should i put my property in trust account?
Should i get umbrella policy for 1MM protection on a property?
When i get a mortgage for a property, that mortgage will be under my personal name. How does this work if this property it is in LLC?
I am also thinking big and for the future, so i want to grow my portfolio with single family homes.
Should all properties be in LLC? Or it is better to have
1 LLC 1 property?
How do you structure when having more than 1 property invested?
I am also interest how to structure bank accounts when growing in properties
Front End engineer – 150K salary – 5 years experience
37 years old, no wife no kids- and i would like to stay this way
I have 50K saved and i want to use them for down payment when i decide to apply for mortgage
I am looking to start with <250K single family home.
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