Derek Steinmetz
Arizona EIN LLC Husband and Wife Multi vs Single Member
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 ...
Kelvin Ng
Private lending through LLC or Personal?
Hey there everyone! I’m new to REI, and I’m looking to invest passively as a PML. I know LLCs are great to have for liability protections and all. But say there was a deal available and I don’t have a passive LLC read...
Clifford Firthh
Seller carryback 1st position note - Holder will not give a payoff amount
Looking for advice on a property I'm working on. Owner had left the property about a year ago to take care of a sick relative and squatters took over the property and they haven't been able to return. They have tried ...
Paul Mendel
declaratory judgment action seeking distribution of surplus funds
Hello All,I run a condo association in Pinellas county, FL, and we had a unit sell at tax auction last year, there was significant surplus funds from the auction (about 8k, the HOA was owed over that and the tax lien ...
Changseok Kim
Question regarding LLC structure and liability protection
Hi BP members, I have not given much thought about liability protection until now, but I recently started reading books written by Garrett Sutton, and cannot help having questions. (1) Does Michigan afford charging or...
Andy Mirza
Automatic Stays for Multiple Bankruptcies
(Not legal advice; just relaying my own experiences & understandings)When a borrower files a Ch 7 or Ch 13 bankruptcy, there is an automatic stay against all creditors from collecting on the filer's debts. As a le...
Heather Canoles
Problem voucher tenant threatens to squat
My cursed rental continues.
Balto County voucher tenant stopped paying rent in sept. Gave til end of sept to pay or be evicted. Went to courthouse on Oct1 to file, but law had just changed saying I needed to use the...
Kyle Milani
Getting into rental arbitrage - with or without an LLC?
I am looking to nail down my first lease in Florida. I currently do not have an LLC yet, it's going to take at least another 30 days. I have found I property that I like but don't feel that it will still be available ...
Suduk N.
Tenant Eviction Filed, Bankruptcy and Collections but 10x Income
I'm renting out a room in a 2 bed/1 bath apartment. An applicant makes 10x income over rent (after monthly debt payment) but has had Eviction Filed, Bankruptcy and a couple of Collections. The person was upfront about...
Mark Fries
tenant passed away, other occupants wont leave
One of my tenants recently passed away and now the kids that were living there which are of adult age won't move out. The lady that passed away was the only person on the lease so I was wondering if I can call the co...