All Forum Posts by: Kyle Weinapple

@Bill Hampton Thank you for the information. Might there be someone you recommend that I reach out to for those services?

Hi BP, i have been using my family friend as a CPA for quite some time and now that I have a few rental properties and larger W2 income I want to make sure I’m maximizing my money when it comes to taxes. If you know any tax strategist or experts and you feel comfortable referring me to them, that would be greatly appreciated!

Hey BP, I am stuck in a situation where i have rental property in Baltimore city and it is a money pit. The good thing is that its at at 2.875% interest rate. I have owned it for 4 years now and have put a good amount of money into it already but with the condition that it is in now, it probably needs another $30,000-$35,000 put into it. I have enough in savings to pay for it but I keep asking myself should i just sell it and get it off my plate and lose the low interest rate or bite the bullet and do a big rehab and continue renting it out. I know the solution can really depend on the individuals situation but any opinions or ideas are appreciated! thank you BP!

Hey BP, I am stuck in a situation where i have rental property in Baltimore city and it is a money pit. The good thing is that its at at 2.875% interest rate. I have owned it for 4 years now and have put a good amount of money into it already but with the condition that it is in now, it probably needs another $30,000-$35,000 put into it. I have enough in savings to pay for it but I keep asking myself should i just sell it and get it off my plate and lose the low interest rate or bite the bullet and do a big rehab and continue renting it out. I know the solution can really depend on the individuals situation but any opinions or ideas are appreciated! thank you BP!

Hi BP,

I own 2 rental properties in Baltimore MD and i am first having trouble deciding on whether to place them in an LLC or not (I plan to slowly scale and house hack a new property once a year). If so, I am having trouble deciding on whether to create an LLC in Maryland (where the properties are) or Wyoming (cause of the know benefits). The last note was that i learned what a series liability is and was curious if i may be better off doing one of those because i have 2 properties and plan to slowly add more (Maryland does not offer series llc but wyoming does). Any information or suggestions help. thank you!

Hi BP,

I own 2 rental properties in Baltimore MD and i am first having trouble deciding on whether to place them in an LLC or not (I plan to slowly scale and house hack a new property once a year). If so, I am having trouble deciding on whether to create an LLC in Maryland (where the properties are) or Wyoming (cause of the know benefits). The last note was that i learned what a series liability is and was curious if i may be better off doing one of those because i have 2 properties and plan to slowly add more (Maryland does not offer series llc but wyoming does). Any information or suggestions help. thank you!

Thank you! I was not aware of that tool

Hello, I currently live in Baltimore, MD and own 2 properties myself. I am looking for an investor friendly agent who owns investment properties themselves and has experience working with clients for investment opportunities. I will be moving to hopefully one of the few areas of Tampa, St. Pete, Clear water, or even Sarasota. The goal is to find a house that needs some work/touch up but is also in move in/livable conditions so i can work on the house and live there for 2 years and end up house hacking or selling it after 2 years to avoid capital gains tax. Just looking to get in contact with an agent of that sort to assist me or maybe even connect me with someone else you may know. Thank you for anyone who can assist!

@Doug Smith thank you all for your help

How does one transfer the title of a property from their individual name into an LLC. Also, does remove the liability from their name individually, so they can lower their DTI? Thank you for your tips in advance.