If you own 25% or more of any LLC you are required to register with a FINCEN ID for beneficial ownership by January 1st or you could be subject to $500 per day fines.Have you taken care of business?

I’m curious to hear from private real estate investors who’ve faced unexpected insurance claims and were protected by an umbrella insurance policy.We often see discussions whether investors should use an LLC or an umbrella insurance policy.

That was right up until we started purchasing rentals.We have an LLC so we actually pay $400 per year for our LLC to file and then another $150 for us to have our personal taxes done. 

Question• Has anyone formed an llc to start and fund their 1st real estate purchase using a SBA loan?

I always buy Subject To, I do not put it in a Trust, I use my own LLC and I never have a problem.

In an LLC or not does not affect dedcutability.

It's important to consult with an attorney or an accountant to determine whether an LLC is the right choice for your specific situation.You can reach out to me and my team who can guide you through the process and help you navigate any challenges that may arise.

I know I can create a series of my own documents regarding this in Word and Excel, but am wondering if there is some kind of software package out there that handles this problem?

The solution could be a creative financing solution such as a total or partial private note, an assumption of the note or LLC, a speciality or local lender, or any combination thereof. 

Not sure if they have upgraded to desktop appraisals but if they are still doing in person appraisals , make sure you get everything (scope of work, good faith deposit, social, LLC docs, insurance, proof of prior experience, financial statements) in ASAP.