All Forum Posts by: Loren Martin

Hi All,

I own one town home rental and am looking for another. This year is gonna be unique for me as I have a "sabbatical" from my regular occupation. I am putting time in to educate myself and analyze deals and hope to get another one or two this year. Maybe i'm crazy but I think I can qualify for REP status...I can log and document time searching/reviewing/comparing deals right?  where is written the definitive guidance so I can be clear?  thank you.

Thanks for your feedback Simon

Hi all,

I feel like maybe I’m over thinking this….

Last year my wife and I bought a townhouse as an investment to rent out to tenants. I now want put the property in an LLC to protect our liability. I have used a basic registered agent service and set up an LLC. After reviewing the paperwork I realized it is now a partnership LLC (because two people). My CPA confirms it is preferable for simplicity I should only have a single member LLC.

My question is this: which is more hassle? 

To move forward with partnership LLC ( being just my wife and I)

Or

Amending my LLC with the state?

- is it a problem to do a quitclaim deed from both of us to myself only in LLC?

As I said, am I overthinking this?

Thank you,

Loren

Hi Tom, I’d be interested in your event. I’m interested to learn more about investing in the commercial space. I really don’t know my travel schedule that far out but I’m reaching out to make a few more connections as I’d like to get my feet under me investing a bit more. It looks like maybe you were out on the East coast but are now in Minnesota, is that right? Welcome!

Hi Tom, I’d be interested in your event. I’m interested to learn more about investing in the commercial space. I really don’t know my travel schedule that far out but I’m reaching out to make a few more connections as I’d like to get my feet under me investing a bit more. It looks like maybe you were out on the East coast but are now in Minnesota, is that right? Welcome!