All Forum Posts by: Sweta P.

Hi all - I've seen West USA recommended here in the past as the brokerage to hang your license with. Checking in for more recent feedback to see if it's still recommended or if any agents have changed their minds. If so, can you share which brokerage you recommend and what made you switch? Thanks!

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Bear in mind an address is required in the top left portion of the document. Where the deed should be sent after recording. You could use a PO Box though.

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Hi Carl. In AZ, the LLC does not have any additional filings. They are strictly pass through entities. There's a one time charge less than $200 to get them going.

The lease will need to be signed either by the landlord (holding LLC) or a property manager. To sign as the landlord, I'd have to disclose myself as the trustee of the trust that owns the holding LLC. Something I prefer not to do.

I could sign personally as a property manager, but thought it might be better to set up property management as a separate company so that I could use a central email address, phone etc.

Do you see any drawbacks with this setup?

Originally posted by @Carl Millsap:

@Sweta P. why the 2nd LLC? Can you do an assumed name for your first LLC? Use the assumed name for collecting rents, tenant screenings etc.

So it would be Superman, LLC doing business as (D/B/A) Superman Properties. Both names would be on the bank account. Superman properties would screen, lease, collect and deposit rent into Superman LLC bank account.

This way you don't have to do 2 tax filings with the state for 2 LLCs (basing this on what we do in KY).

You already have the trust and LLC for asset protection, not sure what purpose the property management LLC will add.

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Hi all. We just bought our first (of many we hope!) buy and hold rental and will be deeding it into an LLC owned by our trust. I would prefer to set up a second property management LLC to handle all the tenant screenings, notices, inspections etc. All payments will flow in and out of the individual holding LLC bank accounts and the PM operating LLC in theory should never even have the need for a bank account. I do not intend to charge or collect property management fees as that will complicate things unnecessarily since the entities are pass through anyway. Has anyone else used this structure? If so, could you please share the agreement you use between the two separate companies?

Thank you!

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What state do you live in? I may be able to help connect you with brokers who still use UWM.

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Hi all. We're in a bit of a pickle and could use some advice. We signed a contract to build a home across the country. Closing is next month. We had hoped to sell our current home by now, but unfortunately we haven't been able to do so. Our current home sits on an acre in a semi rural area and is much older. We do not want to leave it vacant, especially over winter. We were not aware that when we close on a property, we would have to sign a document saying we will move into the home within 60 days. Has anyone had any luck getting special consideration to delay moving in? We do not intend to rent the new home out and our current home is on the market. Any help or advice is much appreciated. Many thanks.

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All Forum Posts by: Sweta P.

Sweta P. has started 3 posts and replied 7 times.

Post: West USA Realty (or other brokerage options to hang license with)

Post: West USA Realty (or other brokerage options to hang license with)

Post: Can I keep my name out of the grantee section in a deed?

Post: Agreement between Holding and Property Management LLCs

Post: Agreement between Holding and Property Management LLCs

Post: United Wholesale Mortgage

Post: 60 day owner occupier rule