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16 January 2025 | 11 replies
Before we sold it we hired a management company to reduce the burden, but even then we decided to sell and walk away.
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14 January 2025 | 7 replies
@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.
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19 January 2025 | 56 replies
The boot camp is great for anyone looking to become an operator in the space, although it’s also a good general overview over the course of a weekend (I believe it’s Friday Night to Sunday Night).To address the @Marty Sellis comments – we were a virtual company up until about a year ago, with employees around the country.
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14 January 2025 | 18 replies
I'm guessing though that since the IRA owner isn't allowed to take out a salary, perhaps the SDIRA LLC will be required to hire employees?
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22 January 2025 | 12 replies
We have regular evictions at this scale and they typically will take a few months up to six or seven months if the tenant contest/hires an attorney.
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11 January 2025 | 9 replies
If you're out of state it's a must hire.
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16 January 2025 | 1 reply
Budgeting for furniture and coordinating the time to execute or hire a designer is something we try and factor into our Pro Forma or analysis.
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10 January 2025 | 2 replies
He learned a lot about what to do himself, what jobs to hire someone for, and just how long it can take when you are by yourself.
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16 January 2025 | 9 replies
If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.
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12 January 2025 | 2 replies
.- If you decide to have an LLC for each property, creating a Management LLC that all the other LLCs "hire" to run their books, will allow you to only require a bank accont for the Management LLC.2) You may not be able to do a Trust.