All Forum Posts by: Rob Rogers

I have been looking for banks/credit unions that offer HELOCs on investment properties.  I've reached out to the following:

1. Wells Fargo. Only offers 60% LTV.

2.  PenFed.  Only available if you own three properties or less.

I've heard that TD Bank and NavyFed are other possibilities.  Has anyone worked with them?  Are there any other banks that offer HELOCs on investment properties?

My wife and I are planning to transfer a few personally-owned rental properties to LLCs.  How are capital gains handled during the transfer?  Are there any other issues to consider?  

Looking for attorney and accountant recommendations who specialize in small businesses/rental properties.  I live in the Northern Virginia area.

Rob

My wife and I own five rental properties.  What is the best way to protect ourselves from potential lawsuits, etc?

1.  Hold in our own name and purchase liability insurance (incl. umbrella insurance)

2. Create one Real Estate Holding Company (LLC) for all five?

3. Create five Real Estate Holding Companies (LLC) for each property?

Thoughts?  I have received recommendations to consider each of these three options. 

Thank you.

Rob

My wife and I are looking for tax and legal professionals in the Northern Virginia area who are knowledgeable with rental properties and small businesses (LLC). Along with our full time jobs, we own/manage five rental properties, and a small side business (LLC). Thank you for any recommendations!

Rob