All Forum Posts by: Account Closed

Hey Rich, I'm just over the county line in Herriman, but I think it would be awesome to put together a group to go over some of these.

Thank you, @Jeremiah Maughan, that's good to know!

@Jeremiah Maughan, do you know if this only works for families? Like if a group of friends wanted to live together, would that run up the same issues as renting as a duplex?

Hello BP!

I posted this over in Tax/Legal issues, but am moving it here.

My wife and I are currently in a property in Pleasant Grove, Utah. We have a legal accessory apartment that we currently rent out, however, as far as I can tell, we would be in violation of the zoning commission if we were to move and rent the main section as well. My question is are there any loopholes that anyone has seen to get around laws such as this? I spoke with an agent who mentioned that they'd heard of investors transferring the ownership into an LLC and issuing a small amount of stock and gifting it to the tenant, such that they are legally part owners, has anyone seen this done successfully? Any other ideas?

Thanks in advanced!

Kyle

Hello BP!

I posted this over in Tax/Legal issues, but am moving it here.

My wife and I are currently in a property in Pleasant Grove, Utah. We have a legal accessory apartment that we currently rent out, however, as far as I can tell, we would be in violation of the zoning commission if we were to move and rent the main section as well. My question is are there any loopholes that anyone has seen to get around laws such as this? I spoke with an agent who mentioned that they'd heard of investors transferring the ownership into an LLC and issuing a small amount of stock and gifting it to the tenant, such that they are legally part owners, has anyone seen this done successfully? Any other ideas?

Thanks in advanced!

Kyle

Hello BP!

My wife and I are currently in a property in Pleasant Grove, Utah. We have a legal accessory apartment that we currently rent out, however, as far as I can tell, we would be in violation of the zoning commission if we were to move and rent the main section as well. My question is are there any loopholes that anyone has seen to get around laws such as this? I spoke with an agent who mentioned that they'd heard of investors transferring the ownership into an LLC and issuing a small amount of stock and gifting it to the tenant, such that they are legally part owners, has anyone seen this done successfully? Any other ideas?

Thanks in advanced!

Kyle

@Rachel Garbett Welcome to the Forums! What sort of strategy is he looking at in the valley?