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9 May 2024 | 3 replies
There are stages in a foreclosure and each stage provides different opportunities and challenges.
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9 May 2024 | 159 replies
OOS is hard to cash flow, because you have extra expenses and some inefficencies.
9 May 2024 | 27 replies
Not only does it offer top-notch security features to keep our properties safe, but it also provides convenient smart technology that streamlines access control.
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8 May 2024 | 2 replies
Is it mandatory for a landlord to provide door screens for sliding glass doors of a family room?
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8 May 2024 | 8 replies
Yes a lease agreement is required as well as a few other items, but I would still ask them to give you their letter of intent from the housing provider.
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8 May 2024 | 13 replies
@Brian Malavsky in some locations it is not worth the extra trouble.
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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.
9 May 2024 | 9 replies
We ask him to proved it by providing pictures or receipts of his supposed missing item.
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7 May 2024 | 9 replies
If a commercial property such as 9+ residential units (such as an apartment building) or not residential, the below doesn't apply. 9+ units typically take extra expenses into consideration such as management fees, utilities, etc.
8 May 2024 | 2 replies
If you are the broker, check with your E&O insurance provider to see if they will cover you for this type of transaction.