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8 November 2021 | 9 replies
The property is owned by my LLC, is there any way to pull out cash and have the loan under my LLC so it doesn’t affect my personal DTI?
8 November 2021 | 0 replies
Hello All,Recently transferred my Condo title from my name to my LLC(sole owner).This triggered a tax reassessment, which I was not expecting and a loss of homestead exemption, which I was expecting.
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8 November 2021 | 2 replies
See my reply on the other thread - look up you actual return - include full legal name - but not "LLC" on the LLC, for me - full address with all lines needed - for example: name, suite, street for the agent address
9 November 2021 | 3 replies
We purchased the home we are currently living in 2 years ago through the company LLC for an incredible deal of $70,000.
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11 November 2021 | 5 replies
In fact, if you have an owner that owns the property in their personal name and quit claims it to their LLC and they are the sole owner they will still lose their permit.
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16 November 2021 | 13 replies
You are also able to close in a LLC if you would like versus not being able to with a conventional loan so I think it depends on how you are managing your risk.
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23 August 2022 | 2 replies
.- Now... form 2 member QOF LLC ~$1000 one time setup pay minimum+ CA tax on it for 10 years ($8000+) QOF LLC tax prep 10 years ($5000)- Next form 2 member QOZB for each property LLC ~$1000 one time setup pay minimum+ CA tax on it for 10 years ($8000+) QOF LLC tax prep 10 years ($5000)- IF we find OZ property OUT OF STATE we like, will need QOZB LLC in that state (epsecially if doing USDA B&I or something) so
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28 November 2021 | 9 replies
We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
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11 November 2021 | 2 replies
I have a credit score in the 700s but I just dont want to hurt my score before closing my primary residence.I also just set up an LLC but been told by the hard money lender, they wouldnt lend to the LLC but only to me as an individual.Lastly, for those that have do more than 5 deals a year, do you then have to pull your credit on 5 occasions?
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11 November 2021 | 1 reply
You could open up a new entity like an LLC and hold the property in it.