All Forum Posts by: Melody Chang

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formed llc and plan on moving it into an S corp. hope yall can see what I am doing =)

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thanks @David Jackson you are right, but I am confused.

I manage them myself. I dont think there is much to it. Am I missing something? These are just single family homes/condos.

@Yavor Tomov i guess I will have to this weekend when I find some time off.

Thanks !

Thanks everyone for their reply. @Justin F. @Cuong Le @Yavor Tomov @Jean Bolger

HEre is what I am doing right now for what it's worth...

All 3 properties are paid for and the 4th will be paid for as well.

I am currently collecting somewhere around $2000 from each property.

Would it still make sense to go to LLC then maybe S Corp? I am real cheap when it comes to consulting and that is why I joined this forum lol =)

Any advice is greatly appreciated.

Thanks again

Hi Jean!

would it make sense to start an LLC and then turn it into an S corp?

My parents are retired so I was thinking of having them on the payroll to take care of the house when I am gone. That way, I can take any kind of business expense as a deduction.

Thanks

hi everyone. i am new and have two questions.

#1

currently have 3 rental properties in houston and plan on buying a 4th in the next month or two. i found this seller during a garage sale and talked him into selling the house. they have already started moving and cleaning stuff out too =)

All my properties are currently under my name (ive heard this is not a good thing to do) and friends/coworkers have suggested me to start up an LLC and put all the rental properties under that entity. am i doing the right thing? or should I just leave everything the way it is?

If I do form an LLC,

is there any advantage to using the name of the LLC as the registered agent (option A) versus using my legal name (option b)? see attachment below.

thanks everyone for their help! god bless america!