All Forum Posts by: Brad Scott

Hey guys! I found a property that is tax delinquent $35,122 (including interest, 5 years unpaid tax and absentee owner).

What is the best approach for this type of distressed property? Thanks for your recommendations!

@Chris Seveney is there a link to this registration or a way to set up a notification when its happening?

@Kerry Baird, @Courtney McCoy, What if i have multifam or small apartments, can i use 6514?

Hi,

My brothers and I are starting to invest in real estate (TX), we have 4 houses and would like to move them into an LLC for protection/anonymity.

Would a Series LLC be best? Or do people generally just put them all in one simple LLC to start out?

We're also wondering if we should use a holding company in WY for the anonymity.

Thanks for you help! This is tough one!

Hi everyone, 

My brothers and I are starting to invest in real estate (TX), we have 4 houses so far and would like to move them into an LLC for protection.

So far it seems a Series LLC would be perfect since it allows us to separate the liability of each property with out lots of LLCs, but TX doesnt allow for anonymity. So im seeing people use WY holding companies as the owner to maintain anonymity. Would that work with a series LLC? Would i still have to register as a foreign entity in TX and nullify the anonymity?

Would you recommend this structure? Or is there a better way for a partnership? Thanks!

Thanks everyone for the feedback! Super helpful. 

We are looking to move the current properties into a series LLC now. Would these lending options work the same with an LLC as th owner?

 @Jamie Banks and Eliott Elias how do you recommend finding an agent that specializes in creative financing?

And Eliott, do you have a group your get together with here in Austin? Thanks!

Hey guys,

I started investing in real estate last year, purchased 2 houses by pooling savings with my brothers, which puts us at 3 properties with my current residence (renters in the other two). Our DTI is maxed and we're trying to figure out financing to purchase our first multifam now.

This seems to be a big wall people run into when starting out and a common question. What is the best financing option after DTI is maxed out?

Thanks so much for your help!

@Natalie Kolodij Thanks for taking the time to respond. That's very interesting and definitely good to know ahead of time. Do you have any recommendations for a tax pro on BP that works with short-term rentals? 

@Michael Plaks Thanks for the input, this is helpful to consider. Thanks for taking the time to respond. 

Hey short term rental owners, 

I'm wondering what you would suggest in order to be able to deduct expenses of running your short-term rental business, i.e. furnishing the rental, management fee, etc. Is it easiest to have an LLC for your business in order file taxes through and deduct expenses or is there some way to just do this through my personal taxes?

Any advice on this would be much appreciated. 

Thanks!