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27 August 2024 | 8 replies
Nope. 99% of LLC’s ar “disregarded” and have tax impact. 1% file their own taxes and cause you to pay higher tax totals.
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26 August 2024 | 3 replies
The potential elimination of the 1031 exchange could definitely impact strategies.
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26 August 2024 | 9 replies
your credit score would not plummet, but you are still responsible for the debt so it will still show up on credit and it will impact your ability to get credit.The only way for her to truly buy you out is to refinance and take your name off of it.My recommendation would be to sell the property, as you may be on good terms now but that does not mean you will be on good terms in the future.
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26 August 2024 | 2 replies
Not allowing pets could impact the marketability of your rental, especially in cities like Dallas.According to the article:"Data from Zillow reveals that twice as many renters filter for pet-friendly listings compared to any other amenity in the country’s 25 largest rental markets.
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28 August 2024 | 39 replies
Rent growth has much larger impact on cash flow than initial cash flow for a long hold.
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26 August 2024 | 13 replies
Impact on Property Value: ADUs generally bring in more rental income than they could possibly detract from the main home’s value.
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25 August 2024 | 3 replies
But I am sure there are still guru's out there preaching land trusts with no clue of the negative impacts to folks that think they are going to dodge due on sale or the paranoid ones who dont want anyone to know who they are.
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27 August 2024 | 11 replies
You don't want S-crop for rental real estate, as it will have negative impacts.
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26 August 2024 | 8 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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27 August 2024 | 15 replies
Do you mean that the lender will wait for 90 days before they impact the borrower's credit or do you mean to say you have 90 days before a foreclosure date?