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4 May 2024 | 23 replies
Super easy.Eastern CT Savings Bank, CTFairway Independent mortgage corporation- uses blockchain to close in as few as 5 days.
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3 May 2024 | 3 replies
Establishing a corporate entity, such as an LLC or corporation, under which the property will be vested, is a common prerequisite.
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3 May 2024 | 12 replies
Corporate travel, divorce, etc. are other potential tenants.If costs in your market allow, I would encourage a duplex purchase vs SF...potentially 2 income streams vs 1 would help offset the extra cost of a duplex.
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3 May 2024 | 8 replies
Without that you can be sued personally for any issue within it on your str.Its much harder for people to pierce the corporate vail and sue you personally if your property is owned and managed in a LLC .Financing is one of the only drawbacks as it is a commercial process and banks usually like to see 3 years of a decent tax return.We have 19 properties and all are in an LLC and in fact we only hold 2-4 properties in each LLC (all are owned by one parent company and done in one flow through parent company)to even further shield the liability that may/can occur on a property.There is no doubt you are exposed to higher risk on many fronts if an investment property is held personally.
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6 May 2024 | 65 replies
Someone is always paying the tax man - it’s either individuals or corporations.
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3 May 2024 | 4 replies
This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).
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2 May 2024 | 10 replies
You can always convert it to an S corporation if the income / cost / benefits make sense to do so.
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2 May 2024 | 9 replies
I have a cash flowing MF portfolio (about 80 units) and I will be leaving my corporate job soon to 1) be a better Mom to my kids and 2) focus on growing my RE portfolio.
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3 May 2024 | 19 replies
Thanks for the notice.Exemption Conditions for Single-Family Homes and CondominiumsSingle-family homes and condominiums are only exempt from AB 1482 if BOTH of the following conditions apply:The property is not owned by one of the following: a real estate trust, a corporation, or an LLC with at least one corporate member.
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1 May 2024 | 12 replies
I have 30+ years of corporate finance experience; FP&A, Supply Chain Finance, new business ventures, tech infrastructure investments, and entertainment.