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Updated over 4 years ago on . Most recent reply

James Isaacs's profile image
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James Isaacs
  • Member since May 20, 2018
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James Isaacs's profile image
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James Isaacs
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James Isaacs
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Real Estate Deal Analysis & Advice

Buying LLC to obtain properties

James Isaacs
Posted

I would like to buy an LLC to obtain the 6 rental properties owned by said LLC. What should I look out for? What are the tax implications for both buyer and seller? Properties are in Prince George's County Maryland

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Beth H.'s profile image
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Beth H.
  • Real Estate Investor
  • from Catonsville, Maryland
  • Member since Dec 18, 2016
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Beth H.'s profile image
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Beth H.
  • Real Estate Investor
  • from Catonsville, Maryland
  • Member since Dec 18, 2016
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Beth H.
  • Real Estate Investor
  • Catonsville, MD
49
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90
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Beth H.
  • Real Estate Investor
  • Catonsville, MD
Replied

Make sure there are no judgements and ask for indemnification for anything that happened prior to the sale. Also in MD I would be concerned about potential lead lawsuit if the properties were build prior to 1978.   You may want to speak with lawyer before you sign an agreement.

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