All Forum Posts by: David Hendrix

Hi all!

I started my real estate empire (two buildings!!) last year under an LLC. I filed my 2013 personal taxes and assumed that I could just use Schedule E for the real estate activity. However, I now see that I need to file a tax return (Form 1065) for the LLC as the LLC is actually a two member LLC. The two members of the LLC are my wife and I. I believe that I will need to file the 1065 for the LLC and then issue my wife and I a Schedule K1. Then I will need to amend my personal tax returns. The amendment should be a non-event in terms of $$s.

Are there any CPAs in the Mansfield Ohio area that I could consult with for an hour or so? I would like to discuss this issue and my overall situation. I did file an extension and thought I had until October 15th, but the extension for the 1065 is only through September 15th.

Any suggestions on a good real estate CPA in Mansfield would be greatly appreciated!!

Dave

There are times when the big stick does make the most sense!! I want this to be as passive as possible and going door to door is not what I want to do! I get that the door to door gives you the opportunity to check on the property and that is a good point. Does anyone take credit or debit cards at this rent level? Right now they send money order or check through the mail. Thanks for the responses.

Hello everyone,

I have a couple of multi units in Mansfield Ohio (6 unit and 8 unit). They are both lower income type properties ($300 to $325 per unit). How do you collect payment from these lower income rental units. Going door to door is out of the question! I am hoping for some good ideas!!

Thanks

Dave

I'm in Mansfield as well. Welcome and good luck!

Aaron,

I may be putting an offer on a building this weekend. I have purchased properties in the past, but always with an agent. Did you ever get a good purchase agreement? If so, would you share?
Thanks
Dave