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28 June 2024 | 7 replies
With DSCR loans, Florida requires that you borrow within an entity, and as such, your spouse has no ownership or legal recourse (even though it is considered a spousal state).
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27 June 2024 | 4 replies
For a new lease, I will need to create a state-specific one through some online entity.
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26 June 2024 | 18 replies
Generally speaking, it’s most cost effective to acquire the real estate in the correct deed holder entity on day one as it becomes costly to transfer property.
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27 June 2024 | 6 replies
I'm just not sure how to get connected with the right type of entity looking for appreciation.
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27 June 2024 | 62 replies
@Matthew Paul:Without getting too technical here, most general contractors actually incorporate and provide their services through an entity operating as a business or company of some sort.. so its not clear what your initial point is.
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26 June 2024 | 3 replies
Here are some steps and considerations for ensuring your LLCs are compliant from a legal perspective:For Your SDIRA LLCs in Florida:LLC Registration: You have filed the foreign LLCs with the State of Florida, which is essential.FINCEN Registration: Registering with FINCEN (Financial Crimes Enforcement Network) was a necessary step for compliance with the Corporate Transparency Act.Ongoing Compliance:Annual Reports: Ensure you file annual reports for your LLCs with the Florida Department of State.State Taxes: Check if there are any state-specific taxes or fees you need to pay for the LLCs.For Your Non-Retirement LLC in Nevada Buying Property in Michigan:LLC Registration:Foreign LLC Filing: Once the purchase is finalized, file your LLC as a foreign entity in Michigan.FINCEN Registration:Corporate Transparency Act: As of 2021, the Corporate Transparency Act requires LLCs and other entities to register with FINCEN.
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27 June 2024 | 3 replies
Hiring a Manager: Decide whether you'll manage the property yourself or hire a property management company.Tenant Screening: Develop a tenant screening process to find reliable renters who meet your criteria.Legal and Tax Considerations:Legal Structure: Consider forming an LLC or another legal entity to protect your personal assets.Tax Implications: Understand tax deductions available for rental properties, including mortgage interest, property taxes, and depreciation.Networking and Education:Real Estate Forums: Participate in forums like this one to learn from experienced investors and ask questions.Local Real Estate Groups: Join local investor meetups or associations to network with professionals in your area.Continued Learning: Attend seminars, webinars, or workshops to stay informed about real estate investing strategies and market updates.Starting with a rental property while keeping your condo as an investment is a great way to begin building wealth through real estate.
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2 July 2024 | 108 replies
I am not a Judge and can't predict how this one will play out, but I am sure someone or some entity with means and purpose can sue the state and let courts decide the fate of such brazenly overreaching legislation as 2023 MD HB0301.
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26 June 2024 | 1 reply
As for a W-9, that is required if you're reporting to the IRS that company/person's earnings and technically is required for anything paid over $600 (I believe) to a single person/entity in a given year so you can issue a 1099.
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26 June 2024 | 2 replies
@Dean Valadez I've paid many mortgages with my mgt entity and no bank cared.