All Forum Posts by: Jeremy Buttell

Thanks Todd, but I wasn't able to find any way to locate the status of Oceanpoint on that website.

Ross, thanks for the link. This seems to again be related to the individual, but I guess the question is how this would affect Oceanpoint considering likely comprised of more than just the individual in question. Sometimes people maintain licenses/status that becomes less relevant when they're operating within a corporate structure.

It is odd though in that one news story, that article about the registry implies landlords aren't available so they're skirting the law. I question how prevalent that is. The city can get through to me and as a landlord I'd be at risk of the city taking more drastic action if I didn't respond to the violations.  Who thumbs their nose to the violations? Is that seriously a viable option? The city just keeps sending letters and then shrugs if no one responds?  I'd imagine the indy gov has more teeth than that?

Can someone please take a stab at answering my post above? 

The original post linked to a document that's from 2015 and is linked off of someones personal drive.

The image posted on the original page makes no mention of Bert, although the OP specifically states that it does. Am I missing something?

People have posted that there are documents on the state website - anyone care to post those and/or links and instructions for people in the forum to see them? Where exactly does one lookup a license? I'd like to see the records everyone keeps talking about, should be easy to find and share yes?

That TV News story - I thought there was a new one, that's the same one I've seen for the past couple years. Was there something new or just rehashing an old story?

i'm a little confused by this. I looked at the link you posted and its dated 2015, over two years ago. The topic at hand was primarily the failure to deposit $650 into a trust as long as failure to disclose prior DUIs from 6 or 7 year prior. This doesn't seem related and the document with the name blanked out doesn't mention Bert at all. Seems like some information is a bit out of date here. 

"Permanently Revoked” the Real Estate license of Oceanpointe and Bert Whalen as of 12/18/17."

Where is that written? I see nothing on that document about Bert and 12/18/17.

I’m surprised there isn’t more discussion about this. So no more state tax deductions, property tax deductions etc? That’s going to hurt.

Many have looked into it, do it and advocate it. I've consulted my attorney and he has stated that this works fine as well. Its really silly that the banks would even care and seems to be a legacy bureaucratic mess. The loan, by being placed in an LLC, is still backed by the original mortgagee and if anything protects the lender as well. It isn't sold, you still remain in control of it, so if anything its borderline fraud on their part if they were to ever consider it a sale.

 I'll try that Deanna, thank you.

As an out of state investor (in CA, investing in Indy) in the event that I receive a notice (like high grass) from the city, they give you about 5 days to correct it, which is about the time it takes to get a notice. 

My property manager seems to get them before I do. Any idea how they'd get them? Is there some record with the city that can be updated with multiple notification addresses? I'm not sure how else they would get the notification before me.

For properties purchased by an LLC, does the city just use the LLC's mailing address, or is there a way to append that list of addresses for additional parties to be notified/mailed with important information?

thanks!

Great info, thank you very much for clarifying this. This CPA certainly won't have my business in the future.

Jeremy

The CPA is reaffirming that no filing is required. An excerpt from the IN gov website above:

"Example: Let's say you are eligible for a total of $2,000 in exemptions. If your taxable income is $2,000 or less, then you're not required to file a tax return with Indiana. If your taxable income is more than $2,000, then you must file a tax return with Indiana."

Does that confirm what he's saying is true? @ Logan Allen, is filing necessary to capture the net operating loss? What does that mean exactly? Does that mean to just ensure there's a state record of the loss?

Jeremy