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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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28 January 2025 | 12 replies
I don't mean to be a "stick in the mud", but successful SubTo is treated very differently than a bank loan investment property.I've done Subject To for a very long time, been sued over some pretty ridiculous accusations and have had to sue to clear up title.
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20 January 2025 | 10 replies
I've also used traditional loans through regional banks and a few SBA loans.
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27 January 2025 | 8 replies
Are you going to keep the separate bank account, keep corporate minutes?
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2 January 2025 | 50 replies
OTA business doesn't exist without the hosts and screwing hosts will be the last thing they would do.
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29 January 2025 | 32 replies
In my land Timber days we just used bank LOC's but success in logging and creating substantial income allowed us to get those lines.
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29 December 2024 | 9 replies
I also liked that they are US based as I had issues with my bank with the Finland based Hostaway.Finally, I highly recommend PriceLabs.
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21 January 2025 | 7 replies
There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.
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27 January 2025 | 15 replies
@Laurens Van swol a few banks that we've worked with in the past allow you to close in your personal name.