All Forum Posts by: Chris Grant

Hi Everyone,

I am trying to figure out how I should be structuring my business entities. I started an LLC for the intent of holding title my rentals. I started another LLC for doing rehabs, assigning contracts, and possibly property management for my rentals.

All of the properties I have purchased so far have needed rehabbing.  I have been using a hard money lender to acquire the property and then refinancing it to a conventional loan for the buy and hold.  So far this whole process has been in my own name, which I know is not good.

Should I be purchasing, rehabbing, and refinancing the property in my rehabbing LLC and then quit claim it to my rental LLC after closing?

Please help!

It is just me. I talked to an accountant and he said EIN on the flip and rental management LLC and then social for the LLC to hold title to rentals. Does having an EIN complicate taxes? Would it make my rentals subject to self employment tax?

I recently created two separate LLCs. One for holding title to my rentals and the other for managing flips and and the rentals. When I went to open a bank accounts for each they asked me if I wanted to use my Social Security number or an E I N number.  

Are there tax implications from choosing one or the other? 

If I use my Social Security number does that have negative effects as far as asset protection?

Thanks Matt! I have looked at their website and it has a ton of useful information. I will be setting up a meeting on Monday. Do you use the Anderson group?

Hello everyone,

I am looking to startup my real estate investment company and I am looking for referrals for an accountant and attorney who are very familiar with real estate investing (even own then own investment properties). I would like to find someone in the pierce county Washington area. Also, if you do not have a referal perhaps you could help with good interview questions for each. 

Thank you!!

Thanks for the info Bryan! Are you a member?

Hi Nghi,

Thank you for the response and the welcome. I do have my brokers license but only got it to help me in my investing, not for a lot retail transactions.  I will likely attend the meetings held in Bellevue, but just figured there were some further south too.  I did a little more looking last night and was able to locate a  few more. Thanks for the help!

Hi everybody, I am relatively new to bigger pockets and was wondering if anyone knows of an investing club in pierce county washington. I am having a difficult time finding one in my area that isn't in Bellevue. 

Thank you!