All Forum Posts by: John Gavin

@Account Closed thank you! So we can take the original LLC that is 50/50 owned by 2 people and move half of the properties over to a new LLC where one partner now owns 100% and then the other partner would have the other half of the properties and have 100% ownership of that one and we pay no taxes? Thanks for all you help.

I do realize that the mortgage company may require additional info or not allow this. 

A friend and I have an LLC that owns multiple properties and for several reasons we would like to split the LLC into 2 LLC's and each own one. We would like to split the homes and both have separate LLC's moving forward. What is the best way to do this without incurring taxes?

@Sai T. thanks. I am wondering more from the financial side. Have you hired a full time mainentence person?  What would one expect in regards to compensation? Thanks 

I am wondering at what point ( or amount of properties) do you hire full time maintence people? We have had significant growth over the past two years and are currently making all the calls and setting up contractors to come fix problems at our rentals. At what point do we just hire an employee ( handy man) to handle all of this! Thanks 

thanks Russell ! The properties are in PA does that matter? 

I wanted to get some other opinions on my current situation. My partner and I currently have 4 townhomes paid off in cash and are currently trying to find the best way to get more properties without putting more of our own money in if possible. What in your opinion is the best strategy? We have bought these properties within the last year and all are rented. The bank has told us they won't loan to us since our LLC hasn't been around for a year yet. Any thoughts?