Hayden Pratt
Fannie May & Freddie Mac
8 July 2020 | 1 reply
Oh, ‘Fannie Mae’ is the nickname for the Federal National Mortgage Association and ‘Freddie Mac’ is the Federal Home Loan Mortgage Corporation.
Kye Dawson
LLC for asset protection
11 July 2020 | 8 replies
@Kye Dawson Just the act of having a separate LLC per property does nothing for protection, that is just 1 part of an entire mechanism that is required to create a corporate veil.
Jacob Phillips
Financing in Missouri
11 July 2020 | 4 replies
@Jacob Phillips You may wan to talk to US bank, bank of america, bank of the west or a large bank about a secondary market investment property loan.
Enrique P.
Can you create an LLC for a multi-family house-hack?
11 July 2020 | 5 replies
But, the asset protection trying to be obtained by the LLC comes with a great deal of costs, from a variety of factors.In your case, if you are going to hold short term or at least live there until you sell, you won’t have the benefit of the sec121 capital gains tax exclusion.Financing it usually more expensive under LLC since you need a commercial loan, which means all the residential loan products are off the table for you.The big kicker I always bring up is to achieve and maintain the corporate veil for asset protection, you need to run the LLC as a separate business, separate from your personal activities.
Aaron M. VanVoorhies
Individual vs. Entity INvesting
13 August 2020 | 3 replies
What are the financial benefits/pitfalls of pursuing investment properties as an individual vs. a corporate entity?
Skyler Holloway
Business Formation - LLC vs S-Corporation
12 July 2020 | 3 replies
S Corp is valuable when you have active income subject to SE taxes and you can classify yourself as doing a “low salary” position .I think as you have surmised, the LLC (s Corp or not) does not provide any tax advantage.
Andrew Irwin
Opportunity Zone Funds - non Accredited Investor
20 July 2020 | 4 replies
You can create your own QOZ via a partnership or corporate tax entity.
Teddy Johnson
Additional Insurance Need for Parent Company
16 July 2020 | 4 replies
It sounds like the Parent Company is a member of the LLCs you've set up to own each property.Are you looking for Liability because you are concerned that the LLC members, including the Parent Company, will be sued individually if the break the corporate veil.
Jack B.
Another COVID scam applicant...
16 July 2020 | 2 replies
One guys landlord actually told me he hadn't paid rent in a while...yet the guys co applicants were like oh he has a corporate job, I know me and the other two are unemployed but he has a corporate job...yeah, one that he can't provide an offer letter or pay stub for and he claims he started a week ago...Stay alert out there folks....You should literally check EVERYTHING twice like you're looking for a reason to deny them.
Jack B.
Another COVID scam applicant...
16 July 2020 | 5 replies
One guys landlord actually told me he hadn't paid rent in a while...yet the guys co applicants were like oh he has a corporate job, I know me and the other two are unemployed but he has a corporate job...yeah, one that he can't provide an offer letter or pay stub for and he claims he started a week ago...Stay alert out there folks....You should literally check EVERYTHING twice like you're looking for a reason to deny them.