New business seeking first investment rental in Indianapolis and south of Indianapolis.  Looking forward to learning from the BiggerPockets information and members.  

When it comes to structuring your real estate business, choosing between an LLC and an S-Corp can feel like a big decision—and for good reason.

I wanted to build up his team, I wanted to help bring him work, I wanted to help in sales and lead generating and buy into his companies LLC.. but even that was fraudulently represented as  In the beginning he had represented himself as someone who had a team in house around 60 people, with vehicles, trailers, tools, lawnmowers, weed wackers, nail guns.. the works.

Quote from @Alvin Sylvain: I don't know of any special protection afforded you by placing the property in an LLC.

They literally went through each operating agreement and prepared an email listing out each member of each LLC and clarifying they each had to guarantee the loan despite the fact none of those entities were even being used for the purchase (which was previously explained to Dominion Financial). 

For me in 2023:No LLC’s, 12 properties in 2 states, only 1 state income tax, no w-2’s, a pension and a 1031 exchange.I was charged $1,275, up from 2022 when I was charged  $1,175 but didn’t have an exchange.

I depreciated the RV under our primary LLC last year.

Basically all rentals, even ones owned under LLC, come up during loan DD as long as you file them under one tax return as personal, that was what happened to me earlier.  

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

However, if you have the time and prefer to source properties on your own, I would highly recommend the following strategies:Connect with probate attorneysVisit property auctions: These happen monthly and, surprisingly, aren’t saturated with investors.Cold callingTarget LLC owned properties: Over the years we have seen an influx of companies purchasing SF for rentals/long-term holds and they failed to account for property taxes and an increase in new construction coming to the market.