Cameron C.
Committing Mortgage Fraud via Househacking Strategy
30 May 2017 | 53 replies
I don't keep track of the language differences, but yes you are probably right that this specific provision is likely substantially identical nationwide.
Scott Yanta
Series LLC & BRRRR Questions from Rookie Investor (Illinois/STL)
25 June 2018 | 6 replies
Whether the courts of a non-series LLC state would respect the liability shields of a series LLC is not known.The IRS has issued proposed regulations providing insight into the IRS’ treatment of these entities:1) Each series within a series LLC will be treated as a separate entity for federal income tax purposes;2) Each series is allowed to choose its own entity classification independent of the classification of other series; and3) Each series should only be liable for federal income taxes related to that series.The proposed regulations do not address the entity status of a series organization for federal tax purposes nor do the proposed regulations specifically address whether each series within a series LLC should obtain a separate employer identification number (EIN) and file a separate federal tax return.Until final regulations are issued, I advise clients to obtain separate EINs and file separate income tax returns for each separate series which, I believe, helps each series maintain separate and distinct corporate identities, thereby reducing the risk anyone may be able attached a judgment to you or another series and pierce the corporate veil.Other ways to minimize the chance that one series may be held liable for liabilities of the entity as a whole (or another series) include the following:1) Create a separate bank account for each series (again, you’ll need a separate EIN to do this)2) Don’t commingle funds within series.3) Always sign documents in the name of the series.4) Properly document all loans between series.5) Conduct all transactions between series in an arms'-length manner at fair market prices using appraisals.6) Keep the assets and operations of each series separate from the other series.
Ethan Peyton
Honesty and Transparency
26 June 2013 | 4 replies
Those with little or no money who actually don't buy and hold RE that run around calling themselves "investors" are just wearing an ego button on their shirt, pretty much a self proclaimed identity and that in itself can mislead a seller.
Josiah Halverson
What license and insurance documentation do I need to verify when hiring a tradesman?
16 February 2014 | 17 replies
Also, get verification of any other liability insurance.
Darnell Robinson
Lease Option Contracts
27 April 2018 | 11 replies
I feel like my integrity was not respected by his teacher nor my image and future business identity.
Joel S.
Help with Eviction Issue in Houston, Texas
1 August 2014 | 3 replies
I sent the notice for eviction and then after another family member went up to the courthouse, the court said that we have to get verification from the DMDC for eviction.
Kat Rathell
Eployment verification third parties
6 April 2021 | 5 replies
We recently started running into more employers using the Worknumber or Truework or other employment verification services.
Pat Jackson
Commercial loan on 4 unit?
28 February 2018 | 12 replies
It should take less than 30 days with no income verification, no seasoning of title if you just bought it and will more than likely have either a 30 year amortization with an ARM feature or a regular 30 year fixed.
Marta Frey
Estimating the ARV of a small multifamily
20 June 2018 | 5 replies
The seller wants $230/sf.A triplex near by recently sold for $210/sf.Both properties were identical however the one I want is in downtown and the comp was on the outskirts of town.
Bryan Richardson
How to do a employment check
27 March 2019 | 4 replies
It's called Verification of Employment.