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6 February 2025 | 28 replies
No offense to realtors but how a property is set up or length of time it has been rented for has no bearing on the legality of the property records on file if they differ.
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8 January 2025 | 33 replies
If your new servicer wants to play games, file a complaint with the CFPB and dispute with the credit bureaus.
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15 January 2025 | 11 replies
It occurred to me today that I've never asked about umbrella insurance claims.I’m particularly interested in real-world examples where this type of policy came through during:Property damage (fires, storms, floods, etc.)Liability claims involving tenants or third partiesMajor unforeseen eventsIf you’ve ever had to file a claim and your umbrella policy saved your bacon, I’d love to hear:What happened?
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14 January 2025 | 4 replies
But I noted that places like North Tonawanda as @Pravit Jarriyapurttipong mentioned are actually outside of Erie County, it's in Niagara County, which follows the stricter landlord laws as New York State... https://ag.ny.gov/sites/default/files/changes-in-nys-rent-la...Would you recommend sticking to Erie County boundaries for this purpose?
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14 January 2025 | 37 replies
They are highly motivated to produce profit, and our interests are fully aligned.
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16 January 2025 | 12 replies
When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.
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7 February 2025 | 41 replies
You are more than welcome to reach out to me and I will be happy to assist you with discounted properties that will produce a high cash flow.
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31 January 2025 | 121 replies
@Jeff Love Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.
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13 January 2025 | 11 replies
Our manager has tried outsourcing filling the unit to a realtor agent with agent incentives but that has not produced any results in the last month.
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26 January 2025 | 14 replies
File for eviction in court.There are many ways to skin the cat, as discussed in my book.