All Forum Posts by: Manuel De La Cruz

@Keisha D Dobney-Boykin Do you have your property management company operating as a separate entity?  

Hello, was there a recording of this webinar?

@Bob Norton, no the C Corp would be used for management only. The property will not transferred into the C Corp and not planning to own any real estate within it.  I should have clarified before.  Also thanks for the tips on the accounting software.  I'll definitely look into the various options around closing time.

@Caroline Gerardo Thanks! Glad I asked, I just learned what a CLUE report was and hopefully my realtor is able to get it soon. Same for the permits, nothing recent submitted with the county that is available that I am able to query with the property information. Going to call on Monday to verify.

New investor here. First actual post. I am under contract on a property SFH with an "In law" suite (primary residence with VA Loan). The property underwent a significant rehab over the past 2 years. My understanding is that the owner had 2 capital partners to pay for the rehab and now they're selling. I paid for an inspection which did not yield significant issues that are quick fixes or ones that the sellers agreed to repair, good right? One interesting find during the inspection of the "in law" suite was that no smoke detectors were installed in the furnished basement.

That being said, this has me concerned about the potential quality of work that went into the rehab, and whether or not licensed contractors/personnel did the work?

Any other red flags to avoid with purchasing rehabbed properties? 

Note: VA Appraisal still pending.

Any advice on what else I could look into or what would be feasible to request from the seller about the total rehab they conducted?

Thanks in advance! (Zillow Link)

*Fledgling investor here* I am running into this as well. (VA Loan House Hack) However, I have a C-Corp established to take the rental income (intend to also use for business operating expenses) from the new tenant(s) and a business checking and savings account established in the name of the corporation. Would it be best to establish additional savings accounts to hold deductions from my anticipated operating expenses (management, maintenance, misc)? How would I properly pay myself the cash flow from the property(ies) [more to come in the future] from my C-Corporation.

What would be the best method to maximize tax savings from a business and personal tax perspective? @Ben Pearce how has this worked out for you this year? @Bob Norton any tips for accounting for a new investor?

Any advice is greatly appreciated!