All Forum Posts by: Scott Dykshorn

Thanks @Ignacio Alvarez and @Keith Torsen.  @Dick Rosen and @Doug McVinua, I'm sure I'll be touching base in the near future.  Thanks for reaching out!

@Ken Min, thanks for the reply.  What kind of tax difference do you mean?  The real estate taxes seem to be much lower here.

I do have a plan.  I know the importance of maintaining focus, too.  However, I enjoy learning the particulars of all the niches, if for no other reason but to help client/contacts.

Hi all,

I'd like to introduce myself.  My name is Scott Dykshorn and I've moved to Scottsdale in early 2016.  Originally from the Chicago area, I moved to the Phoenix area to be closer to family and escape the Chicago winters.  

Professionally, I'm a CPA/Tax Manager at a firm in the area and advise and do tax work for many real estate investors.  I've been practicing for about twenty years.

I'm about to close on my first buy & hold rental property.  I've been seeing many clients benefit from real estate over the years and figure it's time for me to jump in, as well.  So far, with respect to investing, I'm just looking at buy & hold single family homes for positive cash flow.

Looking forward to being part of the BP community and connecting with others in the industry.

Cheers,

-Scott

The Articles of Organization and SS-4 are easy enough for many to file by themselves.  That said, if you're not sure, it would be wise to seek help.  I've seen people file incorrectly and have to clear things up with the state.

On the SS-4, understand that you tell the IRS the "date business started." If the LLC is multi-member, the IRS (by default) will be expecting a partnership tax return covering the business start date through year-end.

Also, I see value in an attorney drafting the operating agreement.  There could be state-specific considerations.

The number of LLCs recommended would depend on equity at risk, jurisdiction of properties and jurisdiction of owners.  For instance, it's nice if you can plan around the $800 minimum fee in CA.  Also, it's advisable to avoid tiered structures (if possible) in TN to qualify for FONCE exemption.