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Results (10,000+)
Jeff Schroeder Favorite software for a Landlord?
18 July 2016 | 22 replies
I'm not (at least not for more than 2 of my units).I don't deal with ACH, tenant screening (professionally) and all that stuff that's offered with these services.What I do need is a program to easily add a new property/unit, put in the rent, any recurring or one-time costs, mortgage info, purchase price and associated costs and the same for any sale transaction on the property.
Ashley Wolfe First rental deal about to close, now what???
17 February 2016 | 4 replies
Local (city or state) landlord associations are a great way to get legally compliant paperwork, expect to pay about $50 membership fee to get the forms and other support.Make sure application fee and application is for each person over 18 who will be living there.  
Kimberly Peticolas New Book!!! Tax Strategies for the Savvy Real Estate Investor
26 November 2018 | 148 replies
Really excited to share this book and the added content with our entire team as well as our clients that are actively seeking resources on using their self-directed IRAs and tax strategies associated with them. 
John Oliver LLC for business & interest deduction + residence?
14 September 2016 | 3 replies
However, that technique raises several red flags in my mind:If the LLC exists solely to hold the primary residence, and has no real business purpose, I'm concerned that the IRS would rule that it's a "sham", and any tax deductions would be disallowed.Most likely due to violating the Economic Substance and Substance Over Form doctrines.If the LLC has some additional (real) business purpose (e.g. additional rental properties, or a commercial venture...such as selling office supplies), then the personal residence is in jeopardy in the case of a lawsuit brought against the LLC resulting from any investment or business property held within the LLC (e.g. slip and fall at a rental property).Even in that case, I'm assuming the residence would still be classified as personal property (even if held within the "business" LLC), so that any expenses paid (maintenance, repairs, etc) would not be deductible.Not to mention that mixing personal and business assets within the LLC creates additional risk for "piercing the veil" (alter ego) for any potential judgments.If they decided to proceed and ignore the above issues associated with using an LLC, there are additional issues:It's more difficult to get financing for personal property held in an LLC, and any financing would be at a higher interest rate.It's more difficult to get hazard insurance.They would need to pay the LLC (themselves) fair market rent, as tenants of the residence.They (as LLC members) would need to pay income & FICA taxes on the income (rent) received from themselves as tenants (resulting in double taxation of that money).They might lose their capital gains exclusion:If they keep it as a Single Member LLC (since they're husband & wife in a community property state), they could probably keep the capital gains exclusion, since the IRS typically considers that a "disregarded entity" (as long as the LLC has not elected to be treated as a corporation for tax purposes).
Jeff Caravalho Would you fund this note?
20 September 2016 | 30 replies
Obtain and evaluate personal and or company financial statements to ensure that borrower is not headed for bankruptcy.There are risks associated with obtaining a 12% return in a 3% market.
Yeshudas Nair Property tax and maintenance in Tampa, FL
27 September 2016 | 17 replies
Buy and hold investors generally shy away from pools and properties that require flood insurance, due to the (arguably unnecessary) expenses associated with them.And finally, another shocker to many out of state investors is the cost of homeowners insurance here in Florida.
James Bowerman Who's on Snapchat
27 January 2017 | 14 replies
I mean Twitter is something that is being taken seriously, but Snapchat I only associate with young wanna-be-models that upload pictures of themselves making kissfaces in their bikinis.
Dennis S. New Investor in Kansas City
10 March 2018 | 7 replies
Julie Anderson with Anderson Associates is an attorney I have talked to and comes recommended on BP, if you need a contact.It sounds like you are headed down the right path.
Tim Jones Broker dies & agent wants to cancel
4 March 2018 | 14 replies
One other thought, our WA Association of Realtors has a legal hotline where we can ask an attorney these types of questions.
Eric V. Atlantic City Investing
19 April 2023 | 51 replies
An associate of mine does vacation rentals in WV but its not my flavor.