All Forum Posts by: Harsh Dangaria

@Alejandro Calixto Thanks for the link! I was looking at a different repayment program which looks like is still not open (https://www.ihda.org/about-ihd...).

Out of curiosity any landlords have been paid yet from such programs? I have yet to be paid.

Has anyone been able to get tenants evicted? Almost all of the tenants who have not paid rent in over a year are working but are choosing not to pay rent. If and when the eviction ban is lifted these tenants will just move out without any way to get the owed rents back.

How are other landlords dealing with this? Any one with ideas?

I tried going to the website and could not find a way to apply online or via paper. Any one else with the same problems? 

@Mark Ainley Hi. Can I please have the name of that lawyer please? Thanks!

Thanks @Account Closed

Thanks @Ben Raygor and @Michael Plaks for clarity on this topic. 

Hi BP family.

Quick question:

Lets say, I paid $100K cash for a property purchased under a LLC. Few months later I refi'ed the property at a slightly higher amount and the bank paid the llc back $120K.

If I use the $120K in the business account and use the money to purchase another property with the same LLC, does that create any tax issues?

Alternatively, If I use the $120K in the business account and use the money to purchase another property with A DIFFERENT LLC, does that create any tax issues?

Alternatively, If I use the $120K in the business account and pay myself the $120K (ie deposit the money into my personal account), does that create any tax issues?

Thanks,

HD

Hi BP family.

Quick question:

Lets say, I paid $100K cash for a property purchased under a LLC. Few months later I refi'ed the property at a slightly higher amount and the bank paid the llc back $120K.

If I use the $120K in the business account and use the money to purchase another property with the same LLC, does that create any tax issues?

Alternatively, If I use the $120K in the business account and use the money to purchase another property with A DIFFERENT LLC, does that create any tax issues?

Alternatively, If I use the $120K in the business account and pay myself the $120K (ie deposit the money into my personal account), does that create any tax issues?

Thanks,

HD

Reading the articles multiple times and still don't really understand it.  Anyone has a simple way to answer the original question. Thanks. 

I don't have the option to change my mind. I have already refi'ed at higher amount (above the acquision price).

Interesting article, was not aware of this. Will have to read it closely. Thanks @Alan Grobmeier

Hi BP family.

Quick question:

Lets say, I paid $100K cash for a property purchased under a LLC. Few months later I refi'ed the property at a slightly higher amount and the bank paid the llc back $120K.

If I use the $120K in the business account and use the money to purchase another property with the same LLC, does that create any tax issues?

Alternatively, If I use the $120K in the business account and use the money to purchase another property with A DIFFERENT LLC, does that create any tax issues?

Alternatively, If I use the $120K in the business account and pay myself the $120K (ie deposit the money into my personal account), does that create any tax issues?

Thanks,

HD