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Durham Duplex
By admin | May 13, 2010
Durham Duplex
investment property?
I really want to buy a rental investment (like duplex) and I need some guidance:
1. Should I form an LLC to protect my potential lawsuit and purchase that rental property under that LLC? can I avoid an LLC due to fees/costs?
2. I am in CA and looking out 3 different areas: Austin TX, Vegas NV, or Raleigh-Durham NC. Which one do you think I should look into in terms of long-term investment (at least 7 years) and taxes/fees consequences
Thanks
I'm an agent out in Las Vegas, and boy is it a buyer's market! Sellers want to make "deals" happen, and they're willing to negotiate. Prices might not get any lower, and selection may never be better out here.
It's also good for investors that rents are on the rise. The average rental out here is over $1200/mo. An example of a good situation is a rental condo I own purchased for a mere $75,000 in '06 and I'm renting it at $725. Other same-sized units in there are already going for $800/month! Feel free to try and contact me if you need any advice on the Greater Las Vegas-area market!
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