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2 January 2025 | 13 replies
We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
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8 February 2025 | 49 replies
If you go with commercial financing you can put them in LLC names and you won't have those restrictions - but will have crappier financing terms - like 5 year locks instead of 30 year.)We bought 12 houses in 2018, 10 in 2019, and 9 in 2020 before prices went skyrocketing.
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15 January 2025 | 15 replies
Consider doing this personally or using an LLC.
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6 January 2025 | 4 replies
I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.
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1 January 2025 | 5 replies
LLC, S-Corp, etc), to file their BOI Reports by the end of the year to avoid being penalized up to $10,000 per entity.
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23 January 2025 | 15 replies
I am not sure how much you get involved but do your employees contact the realtor and discuss market rents, do the math to check leases versus market rents and which lenders use the "lesser of the two".Closing in an LLC versus personal name can also add a rate hit as well as Escrow or No escrow.
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31 December 2024 | 2 replies
If you plan in getting conventional financing, they will not allow you to use the LLC.
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7 January 2025 | 3 replies
If you only have one LLC and don’t need entity tracking, you could get a lower subscription and categorize your properties as ‘customers’, then units and tenants would be sub-customers.Simple Start would allow you to invoice your tenants (if desired through QBO) and produce basic reports.
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19 January 2025 | 46 replies
My wife is an Italian National, and I helped her setup an US-based LLC for her Digital Marketing business.
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31 December 2024 | 4 replies
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