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7 May 2024 | 8 replies
I'm a local real estate agent specializing in STR around the Yosemite area.
7 May 2024 | 4 replies
It depends on your local laws, but any paperwork you can provide the tenant to indicate that they need to respond might help.
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7 May 2024 | 13 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.
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7 May 2024 | 5 replies
It was purchased from a local wholesaler, then repaired/reno'd, from a single family to a single family with a legal suite.
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8 May 2024 | 7 replies
There's always going to be loud opposition to this, but I think if you want to secure the best future for locals, you're going to need the money that tourism brings in.
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8 May 2024 | 26 replies
Find your local NARPM chapter and ask them for their rental data.
7 May 2024 | 4 replies
I am open to any suggestions, mentoring opportnities and advice/tips you may have.Get to your local RE meeting, and you better have 100k or more cashGood luck
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7 May 2024 | 0 replies
Random Rental inspections will begin to start June 1st attached is a link to the courier journal article that has more information and a link to register. https://www.courier-journal.com/story/news/local/2024/04/22/...
7 May 2024 | 3 replies
I would start your search with NARPM.org to find a local company that can handle your needs.