All Forum Posts by: Matt Liu

Is it really that bad to use an unlicensed/uninsured handyman for work on my rental property if I have good insurance?

My property manager is giving me grief because I am trying to hire cheaper guys for things that come up. They're saying that it puts their broker's license at risk. Is this really true if I am the one who hire the handyman?

It's frustrating because I know the PM would rather use their own guys which ends up costing me twice as much!

Does any one have an example of an OA they use for multi-member ownership of a deal? Only if it's legal to post ;) Thanks!

I am buying a rental house with a friend. We are using an LLC. Does anyone have recommendations for what to put in the OP AG besides the standard stuff? What do we do if we disagree on things? Should we have in there that we have to get 3 appraisals if one of us wants to buy out the other?

Why don't you want more than 60% of a C corp income to be passive?

Great answer Aaron. Thank you. But say you have a professional management company taking care of some of the properties. Can you set up an "asset management" company that receives checks from the PM and take a salary that way?

Why do many investors say that you should keep your property management business in a separate LLC for tax benefits? What exactly are the tax benefits?

I do so the logistical benefit - if you have many properties with a complex llc structure for legal liability reasons, you can streamline it all when it comes to management and receiving rent. That makes sense. But is there something else I'm missing?

Thanks!

Because it's actually a seller financing loan not institutional. There should be no problem with the loan. Just trying to figure out if I should actually be concerned about the whole recourse thing when I have no assets anyway.

I am thinking about a big commercial purchase, however the loan will almost certainly be RECOURSE. My question is does it even really matter if I don't have very much in assets anyway? What I do have is in multimember LLCs (a couple tiny cheap houses).

Seems like non-recourse doesn't really fly anymore anyway.

I'm pretty sure those 3% down loans are only for your one house that you occupy.

Just be sure if you're looking to do business in NY that you watch out for the publication requirement. In general if you do business outside of texas you will need to register the LLC with that state's Dep. of State.