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23 October 2020 | 10 replies
I’ve read about rental LLC and umbrella insurance but not sure which would be better.
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20 October 2020 | 16 replies
From my research so far, I've determined an LLC taxed as an s corp appears to be the best option.
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20 October 2020 | 8 replies
Problem is I would like to buy a little faster since all I need to do is keep providing down payments to keep building my portfolio but a bit cash strapped.I created a LLC, opened up a Business CC and Checking account and pretty much doing all the right stuff but the lack of money is killing my momentum.
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21 October 2020 | 4 replies
Hi All - Unfortunately I have lost trust in my CPA after reviewing my latest tax returns(they missed major expenses that I had to call out) so resorting to this community for learning and knowledge while I also look for a new CPAI bought a property in my own name in February and then bought another one in LLC 1 in May and then a 3rd one in June in LLC 2.
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21 October 2020 | 4 replies
Are there any lending instruments or banks that would finance a deal like this if I were stipulating it as a business deal, possibly forming an LLC?
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20 October 2020 | 0 replies
This shopping center has a Food Lion, CVS, US post office, and several retail business tenants renting from one LLC owner.
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20 October 2020 | 2 replies
Secondly, I would like to transfer whatever property I purchase over to an LLC at some point after I move out, but I'm a little confused by some of the explanations I've heard regarding this process.
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21 October 2020 | 8 replies
There is no point to even quitclaim a home into an LLC if the home is not fully owned by the LLC.
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9 November 2020 | 3 replies
This could be an LLC jointly owned by the contributors or a Joint Venture agreement, but you'll be thankful for this structuring 5-15 years from now.If you are using OPM to take down a property and you'll be cashing them out, then you don't need a structure like this necessarily -- a promissory note and related instruments can be used and then once the cash-out happens they are paid off and released and you own it pure and simply.
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21 October 2020 | 3 replies
The management LLC does not own any assets.In Quickbooks every property is a "class" so we can track capex and operating results per property.