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2 May 2018 | 9 replies
I imagine it wouldn't be easy not even for local tax advisor to explain this because tax officers or in worst case financial police could quickly come to my door asking me why did i announce the income ( * ) and pay taxes from low amount if incoming bank wire transfer transaction on my bank account shows much much much bigger amount (total selling amount and not the difference amount).
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30 March 2018 | 3 replies
For example, we have transfer stamps which can be about $8k - $10k and there is a set breakdown of who pays for what
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30 March 2018 | 0 replies
But they will make their life easier with automating leasing renewals, money transfers and documentation.
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19 September 2021 | 9 replies
However, generally, if you have a property financed personally, transferring the property in the LLC does no good because you are on the loan.
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2 April 2018 | 5 replies
People often use LLC for liability protection, and after closing the property in their names, transfer it to an LLC, which is a little sneaky.
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1 April 2018 | 4 replies
You may potentially be exempt under other Virginia law, but an attorney would want to read your Articles of Organization before confirming, and would largely be based upon who has the controlling interest.B) You may be opening yourself up to premises liability by not transfering the properties into the LLC.
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1 May 2018 | 31 replies
Because I had so many tenants and properties already set up and I have not had time to put in the work to get all those properties set up and make tenants get their info transferred to another service.That being said I still recommend against cozy.
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3 April 2018 | 9 replies
A lot of skills from past jobs that you can transfer into real estate make the transition easier.
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2 April 2018 | 2 replies
You may need to cancel policys and reissue at the very least when you transfer the property.
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2 April 2018 | 2 replies
The rates and terms will be more favorable with Fannie/Freddie if you're bankable.If you qualify for conventional you can transfer the properties from the LLC to your name and refinance.If you need a commercial loan then you should start calling local banks and credit unions.