All Forum Posts by: Mary Joe

Hi All,  is it legal for landlords to specify that the lease is for one person only?  For example, if the landlord has a small studio apartment, is that a valid reason to refuse to rent to couples without being accused of discriminatory?

Thanks

Hello,

If I purchase a rental property in Miami this year and close under my name initially, and then transfer the title to a LLC the same year, do I need to anticipate TWO times the property tax hike for next year? First reassessment when closing under my name initially, and then second reassessment when transferring the title to a LLC , even though all happening within 30-60 days in the same year.

Any advice would be appreciated. Thanks

Hello, if I purchase a rental property in Miami this year and close under my name, and then transfer the title to a LLC the same year, do I need to anticipate TWO times the property tax hike for next year?   First reassessment when closing under my name, and then second reassessment when transferring the title to a LLC  , all happening within 30 days in the same year.

Any advice would be appreciated.  Thanks 

Any FL or Miami experts out there?  What is the condo market like these days for the $500K budget? 

What s your take on the new mandatory condo HOA reserves requirement and also the insanely high insurance cost these days? Have you started seeing condo HOA fees go up by 50% or more yet across the board? Are there still demand for Miami condo these days for the $500K range even with these major headwinds, not to mention the spike in mortgage rates?

Would appreciate any feedback on the health of the Miami condo market these days. Thanks

 @Jamie Bateman  can you post the link to your blog post?  I would like to educate myself to see if notes investing is suitable for me.  Thanks

@Greg M.   I can't THANK you enough for talking some sense into me. Your post helps calm my nerves for sure. 

@Jose Moya   

Someone mentioned that his/her ppty tax skyrocketed after transferring the ppty to a LLC. I forgot where I saw that, and not sure which state he/she was in.

I came across below on how to avoid ppty tax hike for CA:

"To avoid property tax reassessment, do NOT transfer real property from individuals to a legal entity (trust, LLC, Corp, etc) UNLESS the individuals have the same proportionate interest in the legal entity as they did in the real property! Let's say that that you and your wife own a property 50% each. And you want to establish an LLC for that property and add your son to title. So you establish an LLC in which you own 35%, your wife owns 35% and your daughter owns 30%. This method will trigger a reassessment of your property taxes! The way to avoid this is to FIRST add your daughter to title as 35%, 35%, and 30% owners. THEN establish the LLC with the same proportionate ownership interests within the LLC. That will NOT trigger a reassessment."

copied from this link https://santaclaritamagazine.c...

Has anyone experienced a huge spike in property tax after transferring your investment property to a LLC ? especially for investment properties in NYC for those who are familiar

Thanks

Hello, anyone knows of a good broker/agent for umbrella personal liability insurance in NY ? 

 Thank you so much !  My goodness, I have been overpaying all these years... am definitely going to look for another agent/broker.