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All Forum Posts by: Pranav G.

Pranav G. has started 6 posts and replied 88 times.

Post: New Jersey LLC Vs Wyoming LLC

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36
Quote from @Stewart Miller:
Eric Espindola it depends on what you're doing in NJ. If you're holding rentals, I would set them up in a NJ LLC. I would have a WY LLC own all of the individual NJ LLCs. I have this structure and it gives you charging order protections, which is why I use it. WY & NV laws specifically state a charging order is the sole and EXCLUSIVE remedy a creditor has against an LLC. Boiled down, it means a judge cannot order a judicial foreclosure on your LLC. The creditor has to wait for you to make a distribution. Also, if you wish to have anonymity, WY allows nominees on their LLCs. If the WY LLC owns all of your NJ LLCs, you essentially have anonymity on all of your NJ LLCs.

 Stewart,

We are thinking same to do as we have many LLCs in NJ and other states.  We are thinking to have WY holding company.  Just confused how the filing of taxes happen at the end of the year?  If you can give some details per your experience would be appreciated.  Also, if you know any good CPA who has such a knowledge to help us!  Thank You!

Post: Young Learner Wanting to Learn About Real Estate

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Aaryan

Amazing!! . Please read  as many  books you can join some local clubs.  You can DM if you want to get connected

Good luck

Pranav

Post: CDC Extends Eviction Moratorium to June 30, 2021

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

agreed with Phil Parris

Post: Have anyone used www.figure.com

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Have anyone used www.figure.com? for mortgage refi or HELOC

Post: How do you address constant minor maintenance issues

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Jim and Carlos: Great Point. In our lease, we required all small maintenance needs to be taken care of by tenants. also, $100 comes out from tenants if any repair required because of negligence. So far it's working well with a couple of exceptions.

Post: How can I get my equity to work for me.

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Marshall Sanders: Congratulations on your decision to dive in to BRRRR. There are many ways to equity to work for you. It depends on what exactly you love to do. Private money lending, using that equity to buy another property, syndication, etc.

Looks like you are interested in a Single-family home at this point. I would go ahead and use equity to purchase another rental property. Feel Free to PM me if you need any help. Good Luck

Post: NOREIA Virtual Main Meeting with Hacking Fynanc

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Jessica Manzella, I just saw your post here. How did this event go? 

Post: Screening service recommendations

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

We use NTN and tenantreports.com

Post: Newbie needing advice

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Agreed with Nathan G. with all this, clearly defined goals and taking one step at a time in direction will defiantly help. If your goal is to Retire Early, Find out your Freedom Number and work on bite-size goals. Pretty soon you will be on your path...

Post: Modular homes

Pranav G.Posted
  • Investor
  • Blackwood, NJ
  • Posts 91
  • Votes 36

Sam, I received a lot of information but the per SQFT price with ground up is higher so numbers is not making sense for my project.

Let me know anything I can help with.