All Forum Posts by: Ben Safren

I recently purchased a second property, which I plan to use for vacation and family. I own my primary residence as well. When looking into options for renting out the beach house part time, I wondered what would be most beneficial for tax benefits. 

For example, if I were to rent it out to family for 3 months of the year, I could technically call it a rental home and take advantage of some write offs? This led me to start thinking of creating an LLC to write off all rehab including fresh paint, new flooring, etc.

I am looking for advice on this matter. Anything helps! Thanks BP 

I am looking into revitalization/jumpstart programs in Maryland. I'd imagine Baltimore City would have a few of these organizations that are offering favorable loans for complete project costs (property cost + rehab). I've found a few offering 85% LTC at reasonable interest rates. Usually there is a timeline around 12 months to flip or refinance.

Does anyone know any revitalization organizations in the area offering these types of loans? 

Great! It was built before 1978 so I appreciate that info!

I am new to the investing game and recently purchase my first home in Frederick, MD. I found some quality tenants and completed the rental application process. I am seeking advice on creating a lease. 

Should I be looking into a lawyer to help out or are the resources online sufficient?

Thanks!