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Updated over 12 years ago,
Real Estate LLCs and How to Run Them
Hello All,
I'm new here, but have taken some time to read through this site for this question I have. Chances are, the answers here somewhere, but I couldn't find it. So I apologize in advance if I'm repeating a question.
Anyways, is there a good source of information on how to run a real estate LLC? So far, this is what I know, but I'm looking to fill in the gaps:
Form LLC (rule of thumb may be 1 per property or $300K)
Transfer dead to LLC
Create a business checking account for it
Keep a good divide between personal finances and LLC finances
To get money out of your investment, pay yourself a regular salary. Not use it as a piggy bank and withdraw whenever.
What else am I missing or should know?
Thanks for your help!