All Forum Posts by: Arzu Alimjan

Yes the LLC owns the property and the flipper is affiliated with the LLC.

There was an operating agreement that was generated and signed as well as a membership admission agreement for the LLC for the investors. Based on this information what is the best path forward to be able to push to get the money returned in full to all investors. I do not believe the flipper has sold the property thus far which he can do and return the money and take the loss himself but this has not been done. He will not answer my phone calls, emails and texts at this point. I am trying to find an attorney that can file something as soon as possible.

There was paperwork that was signed off for the invested amounts. I did not have a specific partnership agreement with him on the flip. Hard money was not involved since he had used his own money to purchase the property from a wholesaler. I had raised money and sign off was made on the LLC. The raised money included some of mine as well as 3 other people.

Hello all, I am posting to see if I can find an attorney and if anyone can provide feedback in regards to a flip. I was working on a flip where the flipper closed on a property in PA and I helped in raising money for the rehab. However, the flipper has not been able to finish the project and has stopped responding to my emails, phone calls, and text messages to find out the status and next steps with the project. About $80k was raised and I am under the assumption that he may have used the money for himself. I would like to take legal action at this point since it has been 8 months with no response from the flipper. I know he has been receiving my messages but he chooses not to respond. If there are any attorneys out there and anyone that can provide feedback and assistance on what next steps I should be taking here I would greatly appreciate it. I am also trying to see if I can find the right attorney to get the job done. I value all responses. Thank you. 

Hello, my name is Arzu and I am looking to shadow someone that has experience dealing with large Multi-Family & Apartment Complex deals. I am eager to learn and help as much as I can to gain the knowledge and expertise to become a pro at this myself. If there is anyone out there willing to teach me I would greatly appreciate it and will not disappoint. Right now I am currently based out of NJ and have a Townhouse that I rent out to long term tenants and a house that I Airbnb in PA. I currently work Full-Time in Construction Management and I am also a part time Real Estate Agent. I want to scale on larger Apartment Complex deals as well as Storage Units. 

Hello all,

I was looking into using Furnish Finder. Does anyone have any template Short Term Rental lease examples they can send over?

It seems like using Furnish Finder has more involved versus a direct booking through AirBnB. Does anyone have any knowledge on which one to use to get longer term stays? I am trying to target traveling nurses.

Any and all help would be great! Thank you.

Thank you so much for the quick response Ashish! Do you happen to be familiar with New Jersey and/or Pennsylvania tax laws?

We are actively looking for a tax advisor that is familiar with short term rentals. Do you do any work or know of anyone reliable in the areas I mentioned above?

Please let me know.

Thank you.

If I am partnering with someone to establish an LLC there are several tax questions we have as far as if we should provide some income towards ourselves on a monthly or yearly basis. Is there anyone that is an accountant and familiar with tax laws for short term rental properties that could shed some light on the following questions we have:

-Will we have to file another state tax if our property does not reside in the current state we live in?

-  Is it better to pay ourselves on an annual basis? How should we look at paying ourselves with the least amount of tax implications?

Any and all pros, cons, tips and tricks that can be provided when it comes to reducing the amount of taxes we pay on short term rentals would be greatly appreciated. Thank you!

@Paul Sandhu yes there would be demand for short term rentals for the market we are looking in.

Hello all, 

I am working with my Partner on our short term rental business. We are still in the early stages and trying to develop our business plan. I was wondering if there were any template/draft type business plans that could be shared so that we could have a foundation to start from and edit accordingly to accommodate to our plans. Any template/draft business plans and operations would be greatly appreciated!