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25 January 2019 | 1 reply
I was looking to see if anyone has experience in corporate rentals.
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28 January 2019 | 3 replies
They require us to be a corporation to lend to.We are investing in Georgia real estate, while living in NY.
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25 January 2019 | 3 replies
Multi member must file a separate return as either a Corporation or a Partnership.
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26 January 2019 | 13 replies
You got several errors in your description so either you're describing not correctly or you have incomplete and eroneous understanding of entities, and more importantly tax implications.Rentals should never run through anything with a corporation in its name.
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28 January 2019 | 30 replies
Now, I left corporate America at a relatively young age and am getting into real estate investing because my first “vine” was picking a decent education.
26 January 2019 | 3 replies
@Michael Hoecht I'm not at attorney but can say that, basically, wholesaling is the equivalent of getting paid a finders fee or consulting fee for finding a property for a buyer.So from a tax point of view I don't think there's anything particularly special/unusual/prohibited merely because it's "real estate wholesaling" vs. any other kind of consulting.I believe I have read articles related to tech startups, within the past year, indicating that non-U.S. citizens form LLCs and corporations all the time and that it's perfectly legal to do so.
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28 January 2019 | 9 replies
It is easiest to keep it in your personal name until you complete the refi. it may work in your market.. but in many states its ILLEGAL for HML to loan to someone in their personal name.. this is why you see this.. or its murky these states allow these lenders to do these loans without a license if they are commerical purpose to a corporation.. this is why you see that requirement for most HML..
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4 February 2019 | 14 replies
However, it only protects you from one type of liability: accidents.After that you want to compartmentalize your assets, which is often accomplished through the use of LLCs or corporations.
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23 November 2021 | 27 replies
Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would 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).
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6 February 2019 | 9 replies
If that's the case and something were to happen, I think a strong case can be made to pierce the corporate veil, because it appears that the LLC is being used merely as a shell company to shield me from personal liability.