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3 April 2024 | 2 replies
The person who served the notice must complete the Declaration of Service form as follows:a) Indicate the date the notice was servedb) Indicate the type of notice servedc) Indicate the manner of serviced) Sign and date the declaratione) Indicate the place (city) the declaration is signed4.
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2 April 2024 | 2 replies
I understand LP is preferred over LLC due to avoiding double taxation, but if I plan to stay in the US and keep the money in the US, do I still form a LP?
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3 April 2024 | 6 replies
Do you form a new LLC/entity with each new property you buy or do you have one LLC/entity holding them all?
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1 April 2024 | 8 replies
Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.
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28 March 2024 | 13 replies
i don't do/invest in residential real estate but perhaps it would be possible to learn SFR by getting job in property management, also get RE agent license, then once you have learned a fair bit, form a syndication with yourself as GP, get your college friends, their families, and anyone you know to invest as limited partners, then buy a rental house for cash, and you take 20-25% equity and provide the property management for a % of the rent, whatever is industry standard.
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26 March 2024 | 9 replies
@Ashish Acharya and @Dmitriy Fomichenko thanks for the responses.Currently, we are using the schedule C plan to fund the solo 401k, however, income on Schedule C gets taxed as ordinary income, which is a huge hit.Follow my thought process here for a moment:I form a separate LLC taxed as an S-Corp, lets call it XYZ.
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27 March 2024 | 4 replies
From multiple discussions I've had and reading posts here, I think I also want to form a 5th LLC to act as a management company, so that I can have one business account and credit card to collect all rent and pay all the overhead and expenses (paying for meals, PO box, RE licensing fees, etc).
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25 March 2024 | 4 replies
You still have to know the pro forma rents though since literally nothing meets the 1% rule based on in place rents.
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25 March 2024 | 3 replies
You can change your ID form as many times as you want before the 45 day deadline.