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17 February 2024 | 5 replies
It may lend you a little privacy, but folks who want to find you will just look up who created the LLC and then find you.That being said, in MO, they are incredibly easy to set up, and are not that expensive to establish (~$50 last I checked, although that may have gone up) and doesn't require any input from an attorney or tax professional (in my state)Personally, I have an LLC bc I pay myself through an S-Corporation as a realtor...the savings come out in the wash, but it allows me to pay taxes quarterly and avoid end of the year surprises.Another reason you may need an LLC is if you are investing with partners, and/or seeking certain loan types ( I know hard money lenders often require an LLC)Once again, this isn't my wheelhouse, so at the end of the day, I would reach out to a tax professional to learn moreLong answer short: in my opinion, you do not need an LLC if your plan only involves renting out your inherited home
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16 February 2024 | 34 replies
They want a local contact for the property which really benefits them not at all and since the role isn't clearly defined they don't require the property manager of record to be a real estate licensee even though to be a property manager within PA requires a license.
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17 February 2024 | 4 replies
Know the elevation, the possibility of a LOMA exemption (flood insurance requirement exemption), the assumability of the seller's flood policy etc.
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16 February 2024 | 2 replies
Does anyone know if I'm required to be represented by an attorney?
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17 February 2024 | 11 replies
Your insurance policy will likely have wording that requires you to disclose anything that would materially affect the likelihood of a loss and knob and tube wiring would probably qualify.
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17 February 2024 | 13 replies
Unfortunately my wife's job started requiring her to come into the office in PA so we plan on relocating there.
16 February 2024 | 4 replies
We also typically require our onsite team members to live in the property.
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17 February 2024 | 0 replies
Unfortunately, even though my DTI and credit score was good, the underwriting was not so good because I had gone through a debt consolidation program not too long ago which, as some may know, requires you to stop payment on debt for a period of time.
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18 February 2024 | 5 replies
Typically, these deals require some sort of down payments as well, not negotiable.
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15 February 2024 | 3 replies
Does anyone have any knowledge on whether cordless blinds are required by law, or a helpful "suggestion"?