All Forum Posts by: Cory Evans

Hello,

We are closing this week on our first renal, it comes with current tenants who are under a lease. Once we take over do we create a new lease updating the landlords to ourselves keeping all of the other details the same? 

Thanks

@Philip Garcia thanks for the input, unfortunately I’m unable to finance this property at this time. It will be a good deal for the next person

Hello,

I have the opportunity to purchase a unique property, it has a single family house 2/1 to the front of the lot and a separate duplex (1/1 each) to the rear of the lot.

Initially I was beaten out of the deal but they then had trouble getting financing due to there being two separate dwellings on the property and I am back in the running. 

I want to assure I can get financing before I commit, I have reached out to my loan manager but wanted to get feedback from all of you wonderful people. 

Please let me know if you have any feedback or have had experience lining up funding for a property like this.

Thank yo u

Hello,

I am currently n the process of buying a few rental properties (mix of single family and duplex), I am struggling to find a property management company that is willing to take on a client with only a few units.

Any recommendations on management companies that are willing to grow with their clients? 

Areas in Michigan are, Kalamazoo, Battle Creek, Lansing and Grand Rapids

I appreciate the support! 

Cory

Thanks for the feedback everyone! One thing she did recommend is forming the LLC but opting to be taxed as an S-Corp which would be subject to fees/taxes based on net rather than gross.

Hello,

I currently live and work in San Francisco, I am looking at developing property in Michigan and wanted to create an LLC based in that state (I have 1 minority owner who will be doing the day to day work in Michigan). My CPA does not think there is anyway for me to get out of paying California taxes given that I will be in doing business in California even though all of the work will be in Michigan. 

Please Help!! Are their any work around to this issue? Do I need a new CPA? 

Any and all advice is appreciated.

Thanks