Isaiah Williams
Just Filed for an EIN for my LLC... should i file form 8832?
so I just recently filed for my LLC and Ein. After I received my employee identification number, I was told that if I want to, I have the option of filing form 8832 "Entity Classification Election" and elect to be cla...
Beth Rook
Does each LLC have different EIN?
If you have an LLC for each property or for different businesses, does each LLC need to have a separate EIN? If so, how would taxes be filed? I understand a single member LLC files a personal tax return and that is ...
Chad George
Seller Financing & Sub to financing
If anyone is willing to provide some insight on how to execute either of these strategies it would be greatly appreciated. What contracts do I need? 3rd party note servicers? What are all the steps to protect me and t...
Marcus Squires
Pre-forclosure timing
Hello BP I have quick question.When the notice to preforclosure is given how much time does the property have until forclosure?
David Bates
Best state to incorporate LLC & taxes for foreign investors
Hi All,Merry Christmas!I'm a British expat working in China and have been looking for a way to improve on the poor returns I've seen in China and Europe recently. Some US rental markets do look very attractive, such a...
Billy Ross
Why a bank doesn't record a deed until closing?
We purchase 5-7 REO's each month, and I have always had this question...
On at least 80% of the deals we do, the bank has not recorded the deed or CT, and they do not until right before closing. While it does not aff...
Miguel Ochoa
Do I have to pay taxes on CA rental income if I move to TX?
Hello all If an investor has a few rental properties in California and decides he wants to move to a tax free state like TX how would the income generated from the California homes be taxed? And would you be able to w...
Adam Beaumont
DIY taxes through TurboTax, or use a tax professional.
This is my first year owning a rental property. Therefore, this will be my first year doing taxes on the property. I only have the one property. What does everyone recommend on filing the taxes? Use a tax software...
Angie Menegay
Warranty Deed to LLC & Mortgage Interest
Hi everyone,
I don't know if this question has been addressed before (my apologies if it has since I couldn't find the right thread). I'm thinking of deeding our rental properties into an LLC (our lawyer suggested Ge...
Mike McGuire
LLC for each property?
My CPA suggested forming seperate LLCs for each rental property I purchase. He states that this limits my liability if there is an issue with one property. I have just one property currently, but I plan to purchase a...