Hello All,I am in the process of creating a LLC and wanted to know where should I establish the LLC; in Nevada or Wyoming. What are some of the pros and cons? Our Scenario: We are planning to do business in IL and TX ...

How do you divide the profit if its a group of 4 ?How do you file the taxes? The LLC would be shared amongst all? Im new to all this and want to understand these things to go over it with my group.

So I'm using a service foreclosure.com that provides people who file for Bankruptcy here in Illinois how do you go about finding out if they want to sell the property?  I know Chapter 13 usually people keep the proper...

Hey guys, I would like to know if you have any ideas on things I should have prepared before I move into my first property which is a 4plex. I'll be house hacking it, and I'm coming straight from my parents house so I...

So I have a tenant that was late 2 months ago, last month was served a writ of dispossession before she paid cash on the 8th day, and this month hasn't paid as of yet.  I believe she is moving out currently and I alre...

I heard along the way that you can hold 4/5 loans per person. Is there something that changes or can be changed once you get married for each to hold 4/5? I heard someone mention something about filing taxes separately..

Hello,Last year I quitclaimed 2 rent houses from my name to my LLC. Do I just copy the depreciation over to my LLC forms?Anything I need to watch out for as I file my taxes? This was not a sale so I think I just move ...

We started our real estate investment journey July 2014.  Our first deal we negotiated a property under contract for 18000.  We wholesaled it for 30000.  After closing cost we netted 10500.  This will be our first yea...

My wife and I live in Arizona (a community property state) and created an LLC where we are both equal members.  I was going onto the IRS website this morning to get an EIN and one of the questions was:You are husband ...

I don’t see a clear answer to this on the forums.  I keep having bankers say “be careful with reporting losses on your taxes because it could make you unbankable.”  What does this mean?  How do you make sure that you ...