All Forum Posts by: Lynette P.

Am I just missing it or is there no category for accountants in the vendors section? I find that to be very odd!

I'm in the SF Bay Area and seeking an accountant who understands RE investing. Mainly rental properties held in land trusts and RE syndications. So far, I've done our tax returns using Turbo Tax. Buying our first rental properties this year so it's time to find a professional. Any recommendations? Since everything is digital these days, I am guessing where the accountant is located is not that important.

Thanks in advance!

Hi - new to RE investing (buy-and-hold) and looking into purchasing our second rental. We hold our current SFR in an LLC. It doesn't seem very efficient to form a separate LLC for each property. In CA, series LLCs are not allowed. Are there other alternatives? Would love to hear what others are doing to mitigate liability risk. Thanks in advance!

Thanks Michael and Jon! Sounds like I need to get the disclosures from the seller & take it from there. 

My first post! In escrow to buy a duplex in CA. Both units occupied. Month to month lease. Waiting for seller disclosures. Looks like 1 unit is at/near mkt rate & the other is about $350 below. Once escrow closes, do I go through the same due diligence process as usual - online application w/ background & credit check? Or not because they already live there? Should I have them sign 1 yr lease? Can I (should I) bring rent closer to mkt rate? I assume when there is change in ownership, the 5% annual rent cap doesn't apply. Any advice would be appreciated!