All Forum Posts by: Tzvi Keisar

Anyone worked with a tax strategist they can recommend? I'm particularly interested in the following areas:

* offsetting ordinary (w2) income with bonus depreciation (with cost seg) on RE investments as REP

* 1031 exchange

I already read a lot on those subjects, but I still have questions, so I need someone with lots of patience to listen and answer my questions.

Appreciate your help!

Hi,

I'm looking for a property management company to help me with tenant placement (not full PM service) in East Lansing/Okemos/Haslett area for a couple of long term rental properties I own. (I'm an out of state investor).

any recommendations?

Thank you in advance!

Investment Info:

Single-family residence buy & hold investment in Lansing.

Purchase price: $82,000
Cash invested: $20,000

2bd/1bath in Lansing, Michigan. Good condition. Added gutters and fixed roof problems.

How did you find this deal and how did you negotiate it?

@Josh Nelson helped us find the property, video walkthrough, negotiate, and pretty much everything we needed. Highly recommend working with Josh in this area!

How did you finance this deal?

DSCR loan, 20% down

Lessons learned? Challenges?

Finding renters is the difficult part. Got to have good boots on the ground to help with showings and make sure the house is in good condition. Luckily, we found @Mollie Muncaster from BHHS, she went above and beyond to make sure people can see the property on their own schedule, that the house is in good showing condition, and pretty much everything we needed to be able to rent it out. I am very thankful for her support and I can not recommend Mollie enough if you need an agent in the area!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Mollie Muncaster from BHHS, she went above and beyond to make sure people can see the property on their own schedule, that the house is in good showing condition, and pretty much everything we needed to be able to rent it out. I am very thankful for her support and I can not recommend Mollie enough if you need an agent in the area!

@Josh Nelson helped us find the property, video walkthrough, negotiate, and pretty much everything we needed. Highly recommend working with Josh in this area!

Some interesting topics here. I have questions related to the topics:

1. Credit cards - I have multiple LLCs owned by a holding company. I also have bank accounts for every LLC (A Chase business account for the holding company and Stessa's virtual bank accounts for the subsidiaries so it is super easy to manage). There are perks for paying with a credit card, but it is a hassle to get one for each LLC (Too little revenue for Brex, Ramp, etc.). I do have a Chase Ink business credit card for the holding company. Questions are regarding liability protection and corporate veil in those situations:

A) Is it ok to pay with the holding company's credit card for expenses of the other LLCs? I am doing proper bookkeeping and making sure expenses are reported for the right LLC, but wondering about the veil protection here...

   B) Does anyone have experience with a credit card provider that can easily issue credit cards per subsidiary without a lot of hassle?

2) @Megan Templeton when using an Operations LLC, are you using S-corp? Is the income not considered now regular wage income (this is the main business of the company) and requires to pay either employment or self-employment taxes?

@Drew Sygit the link is in my reply. Copying the law here:

Agency: Licensing and Regulatory Affairs

A resident agent and registered office must be included in the Articles of Organization. A resident agent is someone who is appointed by the company to receive any documents, notices, or demands served upon the company. The resident agent must be a Michigan resident, a Michigan corporation, a foreign corporation with a certificate of authority to transact business in Michigan, a Michigan limited liability company or a foreign limited liability company authorized to transact business in this state.

@Chris Davidson what if there is someone in the business who can accept and sign incoming mails during business hours? Is that not enough?

@Drew Sygit an agent can be an individual or an entity, according to the law.

I'm going to form an LLC in Michigan (Let's call it My-MI-LLC). The LLC will have a real business address.

Can I use My-MI-LLC as the registered agent when filing with the state? Or does the RA must be a different entity then the business itself?

I already have an LLCs in Michigan and I'm using a Registered Agent service for that one, as I'm an out-of-state investor.

I'm planning on creating several more LLCs soon (all in Michigan) and I'll need a registered agent for all of them. Using a registered agent service for each one of them will get quite costly. I'm thinking if the following will work:

Set my first LLC (the one that already has a registered agent) as the registered agent of all the other LLCs - that way, any mail coming in will go to the RA service (under the name of the first LLC and the address of the RA service), and they will process and upload it to the online storage.

Did anyone try this already? What are your thoughts?

Alternatively, if anyone knows of a RA service that does bulk LLCs that will be helpful.

Thanks!

wow, thanks for all the replies!

75% LTV will not be a problem (at least not for the first few properties :) )

One question on the DSCR loan process - why do lenders require FICO score if the loan is on the LLC? If I'm shopping from several lenders and each one of those do a hard inquiry on my credit score I'll lose quite a bunch of points in the process...

Hi experts,

I'm a beginner investor looking to purchase properties under an LLC. Is it even possible for me to get a DSCR loan? Or is my only option a conventional loan?

Anyone can recommend a lender for DSCR or even conventional loan who will be willing for the property's title to be under an LLC?

Looking for properties in the Lansing - Detroit areas. Loan will be for ~80% LTV of ~$100k property.

Thanks!