James Dugan
Texas - Keeping HELOC when changing Primary residence
20 December 2024 | 4 replies
However as Texas only allows a HELOC on your Primary Residence, I don’t want to lose this facility if I move to a new place (and I want to comply with the rules!).
Allison Littman
"Church" Purchase Creative Financing
11 January 2025 | 7 replies
This requires an independent appraisal valuing the property at $400k and proper documentation from the seller confirming the $200k donation.Ensure the church is a qualified 501(c)(3) entity, and consult your tax professional to comply with IRS rules.
Jaron Jackson
How to get rent payment from previous owner?
10 January 2025 | 8 replies
You may be able to lean on the title company if they missed something, but generally if the deal closed and its not an issue of material disclosure or title or something its generally your issue now, the owner doesn't really have an obligation to comply if they closed according to the CD you signed.
Tar-U-Way Bright
How could I use my LLC
24 December 2024 | 14 replies
Here are a few tips:Asset Management: Holding your property in the LLC can protect your personal assets, but check with an attorney or CPA to ensure it’s set up correctly and complies with local laws.Rent Collection: Collecting rent through the LLC simplifies accounting and keeps personal and business finances separate, which is a big plus for taxes and liability.Property Management: Since you’re self-managing, the LLC can be used to formalize agreements, pay vendors, and manage expenses—treating it like a professional operation.Just make sure to consult an attorney or accountant to align your setup with your goals.
Matthew Steele
Lost lease, tenant issue
4 January 2025 | 11 replies
One is a 10-day notice to comply or quit and the other would be a notice of termination of the month to month lease (30 days here).It looks like NY may be 30 days for the fix or quit and 90 days for the termination of the lease notice.
Kevin Greer
Do you need a Realtor license to be a property manager in Colorado?
7 January 2025 | 9 replies
You still have to comply with all relevant laws.
Ethan Borshansky
Can you 1031 Exchange into capital improvements?
2 January 2025 | 5 replies
Now these are seen as both risky and exorbitantly expensive to comply with all of the nuance in the PLRs.
John McKee
Don't forget to file your BOI Reports by the end of the year
27 December 2024 | 6 replies
However, because the Department of the Treasury recognizes that reporting companies may need additional time to comply given the period when the preliminary injunction had been in effect, we have extended the reporting deadline as follows:Reporting companies that were created or registered prior to January 1, 2024 have until January 13, 2025 to file their initial beneficial ownership information reports with FinCEN.
Isla Arshad
Tenant Pays Rent Late and now Claims Harassment when filing for 10 days Notice
7 January 2025 | 13 replies
You may decide not to deliver a legal notice right away depending on the violation, but when you know you are dealing with a problem tenant, go straight to the legal notice requirements, and if the tenant still doesn't comply, evict.
Chris Shon
Do I need a Real Estate Tax Accountant?
10 January 2025 | 16 replies
They’ll also ensure you comply with CA’s LLC franchise tax rules and any reporting obligations for your flip.