All Forum Posts by: Sam D.

 But the problem is No bank will give you a loan on a newly created llc... 

Hello, I was wondering if you stay in your investment property and if you make some repairs can you write it off ?

In my case, one of my tenant is leaving and I was thinking to stay there for few months and get the house repair (nothing major) can I take tax write off for my expenses ?

Thanks

Sam

Thanks for detailed explanation. 

Putting down 20-25% is not a problem at all. I am learning that lenders don't want to provide money to LLC. Reason for LLC is to protect our assets and provide some kind of anonymity incase tenants decide to sue us.

I wonder what others do when they want to buy investment property and have LLC to conduct their day-to-day business.

Thanks

Sam

Hello, can someone please tell me what are the steps that one needs to take to buy single family property as Investment with investment partners ?

Also my concerns are also around loan (Who should take loan) and how can both the partners receive tax benefits

Do we need to setup LLC ?

Anything else 

Thanks

Sam

Thanks everyone for reply.

Hello, this if my first post in BP. I got my first RE investment property almost 5 years ago - small condo. Now I am planning to get into STR. I was thinking what should one consider when using SRT and if bunch of friends come together to buy the property ? How can one manage finaance, tax, legal, etc...

Please note - I still think I am new to RE investment and there is lot to learn. So please provide your comments in detail. I would love to read them and do further research.

Thanks

Sam