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All Forum Posts by: Maxwell Fontaine

Maxwell Fontaine has started 16 posts and replied 153 times.

Post: I bought 5 properties in 3 different states....

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Wei Jie Yang,

Do you have everything in your personal name or is it in a LLC name?

Sometimes the CPA can charge a bit less if it's all owned by a single LLC. Or create a network for yourself where a single LLC or entity controls the owner of each property (each property is owned by another entity).

I would check with your CPA about what's the easiest move for him to file your taxes as possible because they will be the one doing it, by him setting it up it will save you in the long run.

ALSO, if they aren't insured under the LLC names please let me know I can switch that around for you. Just looking to help.

Good luck on your investing journey!

Post: Self Directed IRA for first rental property?

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Joe Palmer,

If you do end up going through a SDIRA route you would need to make sure you are separate from the property and that includes insurance. I can help to make sure your personal name is in your SDIRA or LLC for the property. Feel free to reach out I am just looking to help out any way possible.

GOOD LUCK ON YOUR INVESTING!

Post: Property purchase transfer from personal to LLC

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Dean Wright,

If you purchase them in your own name and transfer them over or purchase them in your LLC you will need insurance. The insurance policy can be made without your personal name on it at all. Let me know if I be of any assistance for you with that. I am looking to help.

GOOD LUCK ON YOUR INVESTING!

Post: First Deal 6 Unit Apartment Building

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Daniel Krueger,

I wanted to ask if the property is in your personal name? If you want to make sure its not in your personal name I can help you put the insurance only in your LLC or trust name. Feel free to reach out I am just looking to help.

GOOD LUCK ON YOUR INVESTING!

Post: What type of deed is best to transfer into a LLC

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Mayi Nelson,

If you are going to put all of the property in the LLC I can help you out and take the insurance out of your personal name and strictly into the LLC name. Feel free to let me know if I can help you out at all and take something off of your plate.

GOOD LUCK ON YOUR INVESTING CAREER!

Post: Financing an LLC Question

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Erin Onsager,

That sometimes can be an issue or a tough road. If you need any help at all with switching your insurance out of your name into your LLC name exclusively please let me know. I want to make your investing as easily as possible.

GOOD LUCK ON YOUR JOURNEY!

Post: Commercial Loan Details. Good?

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Sean S.,

That is a little tough to find but I am sure you will find it. If you need any help making sure your LLC name is the only name on your insurance policy please let me know. I would like to help if I can!

GOOD LUCK ON YOUR INVESTING JOURNEY !

Post: LLC for rental property

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Rachel Foster,

If you are going to go that route, in order to keep your name separate from things likely, I would be able to help with getting you a commercial rental property policy. The name of the policy will be also in only the LLC name. Let me know if I can help you or any partners you may have.

GOOD LUCK WITH YOUR INVESTING!

Post: Hard Money advice!!!

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Robert Nelson, they may be asking that to make sure they are protected by minimizing their risk of your first deal going bad. If you delegate and get the deal done it still counts as a deal for you. If you need a builders risk insurance policy let me know and ill take care of it for you.

Good luck sir!

Post: Problem Getting Insurance on my Property

Maxwell FontainePosted
  • Specialist
  • Lynchburg, VA
  • Posts 161
  • Votes 90

Hey @Abraham Bar, I will message you I can try to help you out. I have a some companies your current broker may not have.