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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 9 times.

Post: Tenant Liability claims with Property Management

Account ClosedPosted
  • Posts 9
  • Votes 0

Thanks for all you replies. It was only a general question, just to work out what amount coverage is worth having.

Best wishes

Post: Tenant Liability claims with Property Management

Account ClosedPosted
  • Posts 9
  • Votes 0

Good afternoon,

If a tenant fills a claim does it always go to the owner s insurance or is the Property managers insurance also responsible ? Maybe case by case ?

Thank you for your answer.

Post: Is a LLC for a property investor worth it ?

Account ClosedPosted
  • Posts 9
  • Votes 0

Good evening,

Can anyone give me a good reason for strarting a LLC ? A part from being anonymous and only liable for the properties you own whithin the LLC can other advantages be named ? ( Imagine having to create on LLC for each property you won ?! seperate accounts seperate check books...)

Isn t just getting General liability insurance sufficient to cover your liabilities ? I am hopefully missing out on other important benefits or maybe not ?

Thank you

Good morning,

I purchased a Multi family in February this year. My money is still remaining in closing agents escrow (IOLTA) account. 

We still can t closed because sellers contractors need to finish some work (apparently due to damage from a tornado)

Would I be entitled to back out or some sort of compensation ? It is 6 months with no rents.

Thank you

Thanks for your replies. Money is hold in IOLTA Account

Please don’t tell me the seller’s contractor is supposed to be repairing “your” house after you closed.

Seller has not received my money so I presume no closing has taken place

Good morning,

I have a complex situation that is very strange.

I closed on a property in Alabama (I am the buyer) in February and the money is still in Escrow at the attorney.

The reason for this is "apparently" after the tornado the property was damaged. The brokers says she does not want to release Funds to seller before work has been made and paid for by the insurance. It is 6 months now and I get many escuses (Contractor from Insurance does not do the job, Contractor went broke, Seller is meeting with attorney General...)

Is this a common situation ? Would I be able to back out ?

Thank you

Post: Split income 50/50 if property only in 1 name

Account ClosedPosted
  • Posts 9
  • Votes 0

Good evening,

I have a question regarding Tax matters. If a property is only in one name (even though it was purchased with the money of two persons) and both persons receive income is it possible to declare these profits or losses 50/50. Meaning each person declares under their seperate Tax forms ? Or does the property need to be in both names ?

I appreciate if I can receive an aswer. My CPA says you can t but I heard from a different source that this was possible. A little confused.


Many thanks

Post: Foreign investors vs Local investors

Account ClosedPosted
  • Posts 9
  • Votes 0

@ Dennis M

I hope your post is a joke ? American culture did not affect the whole World maybe ? ...

Always good to think twice ...