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6 May 2024 | 5 replies
Anyone who contributes money here does exactly that - makes a charitable contribution and gets no money in return.
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7 May 2024 | 21 replies
One thing I like about syndications is my $50K contribution does not carry direct closing costs, and fees, yes the property does, but the scale for me wipes that out.
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7 May 2024 | 6 replies
A timely response indicates reliability and can contribute to the overall success of your investments.
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6 May 2024 | 2 replies
I've done my fair share of research, but I believe that having someone experienced to bounce ideas off of and receive feedback from would significantly accelerate my learning curve.I understand that relationships aren't one-sided, and I'm more than willing to contribute and assist in any way I can whether it's lending a hand with your projects, sharing resources, or simply providing updates on my progress.
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5 May 2024 | 5 replies
Even a spreadsheet or notion template would be ok.
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7 May 2024 | 13 replies
Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.
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5 May 2024 | 4 replies
I would like house hacking to be my first point of focus then move into MFHs/SFHs as I learn more.I can contribute as I have a desire to continuously grow my knowledge, and I am willing to try new things and learn from others.Let's connect and chat!
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9 May 2024 | 159 replies
., how does each individual property contribute to your goal of retiring early?
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6 May 2024 | 12 replies
If you transfer the property to a disregarded LLC or even a partnership where you are still a member that will not work as it is not a sale but a capital contribution.
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5 May 2024 | 2 replies
Notably, personal visits for maintenance purposes do not contribute to personal use calculations.