All Forum Posts by: Anita Z.

Hi,

What do i I need to write off travel that is used to look for a property to invest in?

Do I need a business license ?

Can I write off all expenses from the trip, such as hotel, meals and travel costs like gas, or airfare? Is 100% of these costs a write-off?

Also, as a real estate investor, can I write off 100% of the education travel for real estate, such as the Bigger Pockets Cancun conference?

Hi, 

What do i I need to write off travel that is used to look for a property to invest in?

Do I need a business license ?

Can I write off all expenses from the trip, such as hotel, meals and travel costs like gas, or airfare?   Is 100% of these costs a write-off?

Also, as a real estate investor, can I write off 100% of the education travel for real estate,  such as the Bigger Pockets Cancun conference?

@Lindsey Mannix @Don Konipol Thank you this is great information and super helpful. So, I assume that I do need to file for a business license where the rental is located, so I can open a business bank account in the LLC's name, is this correct?

What is the best route to form an LLC? I know it can be done online with various sources, is this the best / trusted route?

Thank you @Lindsey Mannix   I appreciate your response-good info.

Can you clarify what you mean by "everything must be done through that LLC"?

Also, do you use your personal name for the LLC, or do you form a business name (fictitious name) for it?

Again, thank you so much for your info on this!

hi, hoping to get some direction here. I have 8 properties and need some help on how best to put them in an LLC, under what name, and how to best leave protect them for my children later in life. Do I need a financial planner, advisor, attorney, etc?

I would also love to get a professional who is experienced in real estate law/tax strategies, so I can determine my best next course of action regarding a new purchase.

I've had some companies reach out to me, but use various titles, so I'm a bit confused on this, and would love to know who I need to go to for help.

Any thoughts, comments or direction would certainly help. 

Thanks.

Hi, Is it best to form an LLC if I own and manage 8 rental units?

Also, do I need a business license to form an LLC company?

If its not needed, should I get one if I'll be managing my rental units?

What are the pros and cons if any?

Hi, Is it best to form an LLC if I have 8 rental units?

I Know I can get an LLC online, but do I need a business license or should I get one if I'll be managing the rental units?

What are the pros and cons if any?

Thanks @Melanie P. and @Bruce Woodruff for your input.

I go back and forth on this and trying to see things from various points of view, so I appreciate both comments.   I would likely rent it out whenever possible when I'm not staying there. The goal would be to have this cover or at least minimize the negative cash flow.

Thank you so much @Dan H. @Dave Foster @Melanie P.  These are all things I hadn't considered. I appreciate all the input! Hadn't thought of Prop 13 and pulling equity from my primary, or the idea of adding up the costs from cash flow and negative cash flow to compare if this is a good move.  Love all the different perspectives on this forum!