Rajagopalarao Paidi
Any recommendation on forming out of state LLC or Home State LLC
26 August 2024 | 8 replies
Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.
Stephen Lynch
Long term mortgage or keep it in the HELOC
25 August 2024 | 13 replies
I'd love to look up the address and let's embarrass the realtor who can't sell it as well as the builder who didn't' build it or design it efficiently enough and who lost all your money. new construction in columbus is on fire and wherever this is built is not reflective of any person we have worked with in our market. can you shed some light on the deal?
Piper Pepperidge
Not use buyers agent
24 August 2024 | 12 replies
Hi, so I started with a buyers agent but I’m very efficient and finding the deals myself and also finding at times they’ll say they’ll ask the seller something but then text a few days later, “Just asked the seller [insert].
Wai Chan
Providing tenant alternate accommodation when i need to fix the house
26 August 2024 | 23 replies
It is the sad story of being in landlord-unfriendly state.I will definitely try making the repair as minimal as possible until I can evict the tenant more efficiently.
Chuck E.
Tenant Complains AC Not Cooling to 68 degrees, Outside Is 114 degrees
26 August 2024 | 44 replies
But any system more than, let's say, 15 yrs old, will not be that efficient and will bottom out at more like 80 d.
Brandon Brown
Replacing boiler and old forced air AC with Heat Pump in Chicago
23 August 2024 | 12 replies
I believe what we will do is use an ultra efficient ducted heat pump system with dual fuel capabilities, so that it will use the heat pump a majority of the time and switch over to using the gas furnace for when it can't keep up.If you have some trusted HVAC subcontractors I would love their contact info.
Malik Javed
Cost Segregation - The Basics
22 August 2024 | 1 reply
Improve Efficiency – By classifying and identifying the various components of your property, a cost segregation study can help you maintain and manage the property more effectively in the long run.
Patrick Whyte
Best Tool for Analyzing Deals and Filter by CoC
22 August 2024 | 2 replies
To answer your question (which is a good one), I am trying to make my searches efficient.
Lamar Athill
Wholesale Tips To Succeed In Today's Market
22 August 2024 | 1 reply
Im down to put the work in but want to know 2 things...what would be the most efficient and effective way to use my time to get houses under contracts and to close deals.
Emily Lai
How to market my skills
23 August 2024 | 8 replies
I'm just really frugal and really efficient in the way I plan, shop, and execute.