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3 September 2024 | 7 replies
We see this type of situation a lot with REIs and I've experienced this myself as an REI.Keep personal personal and business business as far as entities, ownership of assets, and financial accounts go.
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3 September 2024 | 0 replies
Here’s a great article that walks you through how to qualify for REPS status.https://www.aicpa.org/resources/article/tax-rules-for-real-estate-professionalsEntity Structure ComparisonBe sure to consult with a CPA or tax attorney as the entity structure you select can have a significant tax impact.
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2 September 2024 | 7 replies
On taxes I believe we file as a nonqualified entity for the business.
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5 September 2024 | 11 replies
Issue the loan to the borrower's entity (LLC).Either be available to receive a call or return the call as swiftly as possible when the borrower comes calling.Allow the borrower to have multiple open loans simultaneously (if all parties are comfortable with it) to help the borrower grow their business.Have loan products that help the borrower to expand their investing options in relation to ground-up construction and/or multifamily.Have staff that are knowledgeable to investing that can assist and understand the borrower's concerns or requests.Just a few that come to mind.
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6 September 2024 | 79 replies
But that's what you should be doing as an investor in any all contractual obligations your commiting yourself or entity to.
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31 August 2024 | 3 replies
You can complete a Cost Segregation Study on a property outside of the US if the holding company/entity is within the US.
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1 September 2024 | 1 reply
This does not apply to my flip property which would not come up under my personal history since it is titled in an entity name, not me personally.Suggestions?
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31 August 2024 | 12 replies
I'm wondering if having an LLC (or any other entity type) of my own help?
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2 September 2024 | 11 replies
But many of our clients utilize our DSCR loans to purchase and re-finance long-term rentals (LTR) and we have to loan to an entity because it is a commercial loan per se, so that wouldn't be problem for us.
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30 August 2024 | 11 replies
They might also want a fully-executed Operating Agreement showing who is allowed to open your bank account and sign checks on behalf of the entity.