All Forum Posts by: Sebastian Taylor

If you do business in MD, you have to "register" you foreign entity with MD. Guess what - that means, you pay the same LLC tax to MD that any MD LLC pays, but MD LLC does not pay DE taxes and fees. What is the benefit?

@Adam N.,

In general, the statement is incorrect. Get Maryland, for example, where the topic starter is from.

Ah, and another related subject. Why people put their LLC name to signatures in public forums? So I can look you up, find all properties you ever own, and capitalize on this information?

Name, state, LLC name... All past posts with tons of info... Don't you think you expose too much?

People are way uneducated on this subject. 

LLC is a limited liability company - it is designed to limit your liability. Why in sane mind you are going to expose your home address??? Same is for a registered agent - people put themselves as a registered agent, leaving a clue to suing lawyers. Once you create an LLC make it hard to link yourself to that LLC!

Another thing, related. Once you bought a property on you own name, never transfer it to your LLC. If you have done that, you have effectively told everybody interested "I own this LLC, and my name is xxx, and my home address is xxx".

I know, I am paranoid, but think about it, why do you want an LLC?

@Mauricio Ramirez, it seem you don't understand...

No matter what paper you sign, or tenants sign, if there is a lead paint anywhere at property, tenants will find it, sue you for damages, and win. "Not aware of" is not equal to "there is absolutely no"... There should be absolutely no lead paint at the property if you are about to rent it out - otherwise, you are exposed. I believe this is a (one of) legal liability reason Rich is talking about. I am not a lawyer.

 Thanks, Russell! I don't understand how the listing agent talks to the appraiser. Do you bring all comps yourself at  meeting with appraiser, and go over features of your house?

I thought they come to do a quick view to make sure the property is in fact where it is, and not run down, other than that, they use MLS after the visit. I cannot believe they know the price before they go to the property, and are willing to discuss the price with a listing agent.

Belair-Edison rowhouse? You can rehab it for 30K total, what are you talking about? What exactly requires extra 30K lead-related? 

It works this way: You hire a company who shows you what parts have lead paint. You remove all removable, and cover all non-removable. In most cases, all trim should be removed, and cornice and exposed brick inside and outside covered. I don't understand where 30k comes from, trim is most likely to be removed anyway because it is rotten.

And yes, you have to go lead-free, because of liability. It is much cheaper to eliminate lead paint than hire a lawyer, in my opinion. 

 Hi Russell, Could you tell a little more how listing agent could make a difference to appraisal?

Today was a workshop with Larry goins, wasn't it? $49.00 for non-members? How is it free.

I cannot recommend you anything as I don't know what is your area of concern. If you ask a question, I will try to answer. If you pitch for somebody who's business model is to get money from newbies because they are naïve clueless, being that mareia or larry goins, I feel I add my two cents so others are fully aware.

MAREIA is for-profit association. Their meetings cost money. They pitch their own extra services. The meetings are specifically designed for newbies, like you. Their services - same thing. I would not give them free advertisement.

Do a little research first. Discover meetup dot com. Tons of free quality meetings, not designed to get newbies' money.

The post should have probably been reported. My $0.02