All Forum Posts by: Diana Lee

Attorney's will normally suggest not to mix multiple business lines within one entity.

For example - They would suggest having one entity doing rental real estate / property management and to not mix it up with say a landscaping business.

The other question you want to ask, is what is the benefit by having an entity manage your rental properties? What are you looking to achieve.

Hi Basit, the entity was originally set up to manage STRs but we never got around to actually doing that. Therefore, we are now looking to use this to manage our property.

We hope to achieve to save capital gains by offsetting income with expenses.

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Quote from @Katie Balatbat:

@Diana Lee

Not sure about Canada, and not sure what County the property is in for California, but I could let you know some folks in San Diego that could help with California property tax analysis. The California rules for property tax reassessment are different depending on whether title is held within a legal entity or outside of a legal entity.

*This post does not create an attorney-client or CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.

Thank you Katie could you please DM me the contacts?

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Quote from @Michael Plaks:

Quote from @Diana Lee:

We are planning to rent out our properties and want to use our existing S-Corp for this. Can anyone recommend a reliable real estate tax consultant with expertise in both California and Ontario (Canada) property tax regulations?

Not sure about Canada, but under US tax law you should NOT use S-corp for rental properties.

As to finding an expert, here is how:
https://www.biggerpockets.com/forums/51/topics/1222774-expla...

Thanks for your comments, Michael. I’m actually looking to use it as a rental management company rather than transferring ownership. Do you still feel the same?

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Hi Everyone,

Thank you!

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Hi Everyone, thank you very much for taking the time to offer your thoughts and insight. We truly appreciate it. Sincerely hope good things come your way. 🙏

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Hi Everyone,

Husband and I are really struggling as I have not been able to secure a job since December 2023. We need dual income as we have mortgage, preschool, car payments. We are now looking to see if Airbnb arbitrage may be something we can start to help us generate the cashflow we need. Wondering if anyone can provide any insight into the Airbnb arbitrage for the Bay Area. We live in San Jose and would like to ideally start our first project that is closer to us. But would happy to hear any other thoughts or suggestions as to where we should first start/look. Any guidance would be much appreciated.

Thank you for your help!

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All Forum Posts by: Diana Lee

Diana Lee has started 2 posts and replied 6 times.

Post: Seeking Real Estate Tax Consultant Recommendations

Post: Seeking Real Estate Tax Consultant Recommendations

Post: Seeking Real Estate Tax Consultant Recommendations

Post: Seeking Real Estate Tax Consultant Recommendations

Post: Airbnb Arbitrage in the Bay Area

Post: Airbnb Arbitrage in the Bay Area