San Diego Housing Market News and Analysis

zk, are you in SD County?

Just do it yourself: http://www.legalzoom.com/

Yes, but the properties are in Georgia.

Well, I'm not an idiot, so I guess I should be able to do it myself. I don't know, though. Seems like maybe having somebody who's done it hundreds of times and knows the pitfalls, obstacles, tricks and loopholes might be a good idea. But one who doesn't charge $450/hr.

Zk, did you buy in Vegas?

Where in Georgia, if you don't mind my asking... just general idea.

For papers for an LLC, you can also use a paralegal or paralegal services. Make sure they are familiar with the rules in Georgia.. (BTW why there.. I heard Delaware gives you better treatment..)

BTW, my understanding is that the LLC doesn't have to be formed in the state that the properties are located in. Are there specific legal advantages that you are looking for when forming the LLC in Georgia?

I've also heard Delaware gives you better treatment when forming an LLC. I could legally (and might) use a Delaware LLC. I'm buying in GA because the cash flow there is good. I'm not forming a GA LLC.

I didn't buy in Vegas. My plan is a 30-year plan, and I worry that a lot could go wrong in a town that is somewhat dependent on a single industry. Plus the cash flow is better in GA.

Around Macon.

I also have a 30 year time frame.

I picked Vegas because, being a hands-on person, I can easily go there and manage my properties, now that I have a vacation home in Vegas.

Vegas has the new Cleveland clinic, downtown revitalization, Zappos, UNLV, etc... I feel that the economy is moving up as reflected by higher hotel rates and higher house prices.

We shall see decades from now.

I believe in Bob's Shiller's "Glamour city" theory. I think that with more knowledge disseminated over the Internet, educated people will want to be in "glamour" cities.

Again, time will tell....

Can you share something about Macon, GA? Why did you pick that area? How will you manage your properties.

What's so glamorous about a thirsty hellhole in the middle of a G-d forsaken desert? I'd much sooner buy in Miami or Orlando.

Yeah, Vegas might very well work out great for you. I hope it does.

I like Miami... but Orlando is dependent on theme park tourists who are the same kind of people who come to Vegas.

Anyway, all places have their downsides... I really don't care as a long as there is money to be made.

BTW, I did partner with a buddy in the Fort Myers, FL area... but I don't have the time or inclination to go there all time. I'm in Vegas more because of serendipity than strategic investing.

About the thirsty hell-hole that is Vegas, you'd be surprised that water is cheaper than in San Diego. San Diego is very arid and, as a region, and we waste a lot of water on irrigation.

About the "glamour" of Vegas, I had some time to think about it. It's the commoditization of luxury. It's a place where people can come from Cleveland, Cranston, Beijing, etc.. and experience "luxury" at a fraction of cost.

In Vegas, there is lots of bling-bling but everybody shares a small portion of the cost. If you live in a dreary city like Dayton, OH, a trip to Vegas can be a wonderful "glamorous" vacation.

Vegas, like Orlando, or Phoenix (or San Diego or LA decades ago) are were people moved from older parts of the country to improve their lots.