All Forum Posts by: Kumar Paj

@David Nacionales welcome to midwest....

NW Indiana is very tricky area and you need to be very careful about the same, especially when you plan to invest remotely. I've learned so much about this market this year (still learning). I believe, with the help of reliable team of Realtor, GC and PM, you can find good opportunities in this area. If you are planning to get into Turnkey, please let me know. ....

I will be around on Sat/Sunday (Hammond area)...so we can plan to meet....

good luck

@Cody Backus Thanks very much for your note. I am feeling better..I agree it adds admin and paperwork and its worth for a sizable portfolio.  @Linda Weygant Thanks for the insight. I knew S-corp is not a good option for passive income but didn't know why.. thanks for the info...

@Judy Parker - For holding title of buy-and-hold (Rentals), LLC is always the best option. For property management and Fix-n-Flip , S-Corp is the recommended option because of taxation and asset protection standpoint.. I am not an attorney or CPA so @Steven Hamilton II and/or other attorneys/CPAs can explain in more detail....

@Steven Hamilton II

Thanks for your input Steve!

Actually, I don't intend to hold any property under my S-Corp. My S-Corp (ABC Realty Inc.) will only Manage the properties, and collect the rent that are owned by my LLC/Personal name. ABC Realty Inc. will after deducting Property Management fees, distribute the rent to the owner i.e. me or my LLC. Just wanted to make sure if this is legal, feasible and right way to add one more layer of Asset Protection.???

thanks!

Hello BP Experts.....

I am a licensed Realtor and hold multiple properties under my personal and/or LLC's name. As a Licensed Realtor I do have my S-Corp (Let's say ABC Realty Inc.) which is affiliated with a Managing Broker/company (e.g. ReMax/ KW) and earns RE Commission income. I was wondering if I can use my S-Corp as a management company i.e. to manage my personal/LLC properties. 

By this way ABC Realty Inc. (owned by me, as a RE Agent) can manage properties owned by myself/my LLCs. and collect rent. 

I wanted to make sure this is legal and if there are any caveats.

Will appreciate recommendations/thoughts, inputs....

Thanks!

@Jay Bhatt I am working with (and will be partnering with) local GC and PM. We plan to get into Turnkey business soon..

@Jay Bhatt @Jay Grabbe..@Rick P. @Dale Stevens @Paul Stout

finally...I started investing in NWI and already closed 3 units in Hammond and Griffith. I believe, I've good team to start with (still working on it...) ....Hopping to finish rehab by end of this month and enjoying CASH FLOW starting from Nov.....Excited to close few more deals by end of 2016...

Would love to get connected with other investors, Realtors, contractors, in NWI. ....

Happy investing...

@Ray Agosto..welcome to Illinois...very interesting place to invest since you will find all negative and positive views about opportunities and availability of investment properties. If you are looking for B/B+ type areas, Western suburbs will work better. If you are comfortable with  C class area, South Chicago will give you better cash flow.  Not much experience on South Chicago so I should not classify entire South Chicago as C class, I think there are some good pockets too.

@Adam St James nice to see someone from Western suburbs with very similar interest....

@Ken Weiner @Nancy E. thanks for your note...

I also had short consultation with their advisor last week and not sure if the strategy he was recommending is the right one for me. Still waiting for his email describing in detailed options and pricing. I am meeting an another attorney tomorrow and see what he recommends..

will keep you posted...