All Forum Posts by: Peter Forrest

thanks @Rocky V. and @Brian Tome. Will reach out to Swenson

@Brian Tome Many thanks - great blog/podcast. Do you know anyone in MD/DC/VA who does this type of legal work?

@Steve Vaughan many thanks! I am closing the short sale under my name for a variety of reasons. I will then refinance it into the LLC.

I got a new Series LLC (Delaware), and I am closing on a short sale on Nov 6th, and the property will go into the LLC as its own series. I plan to put section tenants 8 in the house. The short-sale property is currently in my name. I want to put it under the LLC for asset protection. So, I have a couple of questions for those knowledgeable:

1) A series only exists in an operating agreement which is on my computer and that's it. I got mixed advice on whether each series needs an EIN or not. I prefer not so that I don't have to file individual series Federal taxes. Can I get an EIN, and not file Federal Taxes for the Series? I will still file the LLC taxes off course.

2) Are we required by law to use a specific format for the name of a series that is holding assets? For instance, do I need to call the series "Real Estate llc" Series"Address" OR can I just use the address as the name -  which is a proxy for whatever the heck I want?

3) Section 8 requires "Landlord" is the landlord (a) the owner of the property or (b) the property management company? The property management company is a series within the LLC

Many thanks!

Landlording on Autopilot  by Mike Butler, is the best I have read as well

Thanks @John Crandell Yah, I checked -  I got the ceiling height - 7ft, and 6'4' under ducts, 70sqft of area, egress window, an exit doorr and  will add an ikea closet as well. Will definitely get an inspection though to make sure I don't end up on the wrong side of the permitting process

I agree with @Franklin Romine

It's in the lease, then go in, no BS

Thanks to BP - I am a third of the way through a BRRR in Washington DC - got the HELOC, got the house, and now I am rehabbing (should be quick - paint, fix up a few things in the kitchen and add a couple of walls in the basement to create a bedroom) - and DONE ( I am sure it will as easy as I imagine it will be :))

I am making the house into a Section 8 rental, and it takes about a month to get the tentant in there with that program. As a result, I will start showing the place in a a couple of weeks, and I have been thinking of the refinancing part of the process. have seen quite a few posts on delayed financing lately, how is this different from a typical re-finance? How does it work?

Many thanks for your time!

Congrats on the first BRRRR!!

Thanks a ton @Jeffrey S. Breglio!!!