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Reverse Sticker Shock

May 17, 2008

I’ve been in California for about 8 years now. When I first moved out here from Maryland, one of my best friends in Maryland had just bought a $200K house (and a nice house at that!). I remember thinking about how ridiculous it was to spend that much money on a house, and then nearly […]

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My Last Day of Work

May 16, 2008

While I resigned from my job two weeks ago, it’s standard practice to work at least an additional two weeks to ensure a smooth transition of your work to others. So, today is my last official day at my job. Between writing this blog, finalizing our moving plans, packing, and planning our cross-country drive (we […]

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Creating Our Corporations

May 15, 2008

After some research and talking to a CPA, I’ve decided that both of the businesses that my fiancee and I will create will be structured as multi-member Limited Liability Companies (LLCs), and that they will likely be taxed as S-Corporations (LLCs can be taxed as any other corporate or partnership entity). I will own 51% […]

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Finding a CPA (Part 2)

May 14, 2008

I was really hoping to get some personal recommendations for a CPA to use for my business. I really hate cold-calling professionals (even with my list of interview questions), especially since it will likely be difficult for me to determine the great ones from the mediocre ones just based on a 30- or 60-minute discussion. […]

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Finding a CPA (Part 1)

May 13, 2008

Now that Iâ€™m getting ready to actually relocate across the country, itâ€™s time to start building my team and defining our business structure(s). With that in mind, the first team member Iâ€™ll be looking to find is a really good Certified Public Accountant (CPA), with a specialty in real estate. Unfortunately, I havenâ€™t been able […]

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Building My Investment Team

May 12, 2008

In a previous post, I laid out the outline for my Business Plan. The last section of my plan calls for an overview of the team I need to put together before I start doing deals. Because of my short-term desire to define and create my business structures and ensure that I’m prepared to start […]

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Starting the Business Plan

May 10, 2008

I’ve started writing the business plan, and while I’ve actually written a good bit of it over the past few days, I wanted to get the basics out of the way first. Below are the “Overview of the Business” and “Definition of the Business Structure” sections of my business plan: LISH PROPERTIES BUSINESS PLAN Overview […]

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Lish Properties

May 9, 2008

Today I picked a name for my business. It will be called “Lish Properties.” Why the name “Lish”? Simple really… My dog’s name is Rookie. Still not obvious how I got to Lish, huh? 🙂 Don’t ask me why, but ever since Rookie was a puppy, I’ve always called her “Rookie D. Licious.” And very […]

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Business Plan Outline

May 8, 2008

I’m currently in the process of writing an over-arching business plan for my real estate company. While having a detailed plan is probably the most important prerequisite to starting a business, it’s also quite daunting. Trying to articulate my specific goals, quantifying the strategies I’ll utilize, the risks I’ll face, and the safe-guards I’ll put […]

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Basics of Residential RE

May 7, 2008

As I mentioned in my previous post, I plan to base my real estate investment business around investing in apartment buildings (at least at first). Before I talk more about my investing plan, I should probably explain why I chose apartment buildings over other types of residential real estate investments. First, some background on the […]

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