
28 November 2020 | 8 replies
Nope, i knew i had to get the work done and the clock was ticking...Just a different perspective, than I'm sure just about everyone would recommend...but times are changing...we have to convince we are worth a contractors time sometimes...However, I'm not saying disregard all of the "rules" about managing contractors such as Don't pay the whole thing up front, etc.Perhaps give the Facebook group another shot...Also, your realtor really should at least help with this...they should be able to ask the office for a referral, or ask their FB group for a referral or something...I don't think this is going to directly solve your problem, but hopefully at least gives an opinion for your reference at some point..GOOD LUCK!

29 November 2020 | 69 replies
I disregard the rent zestimate and use other comparable units in my area to determine market rent.

29 November 2020 | 14 replies
This established it as a partnership, otherwise if you do a single-person LLC you need to designate it be taxed as a corporation to qualify, otherwise it will be a disregarded entity.

2 December 2020 | 7 replies
In theory, the mortgage should be in the LLC's name and the LLC would report the income and expenses it has.Since this is a single member LLC, it will be treated as a disregarded entity unless you elect to be taxed as a corporation.

28 November 2020 | 0 replies
If so do you add terms that it must be delivered vacant, or do you disregard it in hope that you can find a cash buyer that would want the renter in place?

29 November 2020 | 2 replies
@Matthew DonYou would need approval from the lender or will risk triggering a due on sale clause when you change the title ownership.Some lender will accept transfer of the property to a disregarded LLC.

29 November 2020 | 3 replies
As long as you are accounting properly for it, it should not matter.A living trust will be disregarded and I don’t understand what kind of tax benefit you expect to get from it as it should be tax neutral.The only tax advantage I could see is if you use a C Corp taxes entity as property management where there are some tax fringe benefit that are available to corporations.Here is quick video how to set up a proper structurehttps://m.youtube.com/watch?

6 December 2020 | 30 replies
@Andrew WhiteYou can disregard 80% of my cautionary statements previously, lol.

2 December 2020 | 6 replies
The key is that they are both disregarded entities owned by the same person.

2 December 2020 | 9 replies
We currently have one LLC, taxed as a disregarded entity, through which we purchase properties, rehab them, and then rent them out.