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6 May 2024 | 1 reply
We are finding different things online and we want to make sure we are set up for success when it comes to being protected.
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7 May 2024 | 3 replies
I think all would agree that the City of Cincinnati is utterly different in approach to other building authorities in the Metropolitan area.
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7 May 2024 | 3 replies
I'm working in the North Texas area so NJ may be different.
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7 May 2024 | 28 replies
I've been busy with a different pursuit and haven't posted much for the last year.
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7 May 2024 | 5 replies
If not, look for a different market.You can also read "Long-Distance Real Estate Investing" by David Greene.
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7 May 2024 | 6 replies
@David Roy GriffinBeen in the call center industry for 16 years holding different executive positions (even in the Philippines), so I can tell you this is not a good option for a number of reasons.1. 1,000 names will never bill enough to cover the call centers "hard costs" (training time, dev time, QA, overhead).
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7 May 2024 | 5 replies
Make sure you run a detailed financial analysis and always do a rental stress test to see how the numbers hold up under different scenarios.
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6 May 2024 | 5 replies
Should my parent company hold all of my real estate LLC's even if they are taxed differently (such as between the buy/hold and flip business) or are parent LLCs designed to only protect the several Buy/Hold LLC's because they are of similar taxation?
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7 May 2024 | 13 replies
Public hates you for a different reason. :)
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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.