An LLC is useful for two things: anonymity and legal protection.

Unfortunately Good Cause Eviction passed last night in the city of Rochester, NY.I want to thank Council Members Lashay Harris and Michael Patterson for doing the right thing and voting “NO” on this largely performative legislation…that will only TEMPORARILY protect a small handful of city residents living in EXTREME under market rental units…But it will have broad and adverse negative consequences for the WHOLE community.

@Tar-U-Way Bright Using your LLC for real estate ventures offers legal protection and tax benefits.

I'm not sure how to protect my value add strategy if in partnership and would prefer to outright own.

Set up an LLC in the property’s state for liability protection, and consider a parent LLC if needed.

Staying proactive not only protects your tenants but also safeguards your investment.

If someone represents themselves as private lenders, check them on NMLS consumer access to see if they are licensed.

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

I now completely understand the differences, and while consuming real estate content for the past week on this topic, I have also been leaning towards multifamily and this further cements that.

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.