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15 January 2025 | 6 replies
I've spent aproximatly 61.5K on expenses over the years, Interest, Property Tax, Isurance, HOA and various repairs and upgrades.
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12 February 2025 | 75 replies
Find out if they owe any back taxes.
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13 January 2025 | 6 replies
From tax stand point I would think you can separate from primary and be okay with IRS being that IRS will not be local code enforcement.
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29 January 2025 | 10 replies
Lower property taxes, affordable housing compared to LA (CA buyers are usually cash buyers because what they net from their smaller home in CA can get them a bigger home here, often covered by what they net from their CA sale), allergies (smog), and politics.
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7 February 2025 | 14 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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23 January 2025 | 10 replies
No matter the number of units, there is one roof, one property tax bill, one sewer line, one gardener bill, etc. 3.
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14 January 2025 | 19 replies
For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally.
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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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27 December 2024 | 7 replies
That will show what proposed tax increase you will see.
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21 January 2025 | 9 replies
Either way, with rent and price appreciation, tax benefits, holding long term is a net worth exploder.