Linda Govan
I want to do my first flip
I am wholesaler that has found a property in Chicago, IL. The owner is out of town and half completed the rehab 7 years ago and its just been sitting. I want to do an owner finance with her. I like the wholesaling b...
Chris Masons
taking title in name and later quit claiming to LLC
Hi guys,Has anyone had experience buying an investment property in their personal name, then shortly after closing title, quit claiming into the newly created LLC?I am looking to buy a 4 family and will have a mortgag...
Shalin Patel
Mortgage/LLC structure tax liability in 100%/0% partnership.
My father and I are working on our first triplex deal and plan on transfer to an LLC after closing. I will be supplying the down payment for the mortgage and initial costs. Ultimately we would like all the profits/los...
Ryan Colucci
Partnership First Deal
Hello BP, not sure if I have properly introduced myself yet but I have been browsing the forums extensively for the past 6 months just gaining a vast amount of knowledge. In any event, I feel like I am properly prepar...
Sonu Sidhu
Co-Own rental property with Brother - Tax Advice
I co-own a rental property with my Brother (purchased last year). He paid 100% of the expenses for the property this year, and also received 100% of the rental income. (This includes mortgage interest).Do I have to re...
Delin W.
single member LLC -- in husband's or wife's name?
Just thought I'd run this by everyone:
Husband has a day-job and wife manages the rental properties but does not draw a W2.
In setting up the LLCs, are there any pros/cons to setting things up in one name or the ot...
Luke Smith
Credibility Counts: Should You Partner Or Build It?
Real estate investing draws all kinds of people in. Some are looking for a quick score, others are looking for cash flow to retire early. Regardless of your reason to enter the industry, you're main action item is fin...
Lynne MacFarlane
When to establish an LLC - Does timing matter?
Hi BP! We are starting out and would like your advice. We have been reading that there are definite tax advantages to having your properties (as their associated income) contained within an LLC. As we haven’t establi...
Scott Everhart
Land Trusts and their role in an overall Asset Protection Plan?
So, I've seen a lot of info on the drawbacks of using a S-Corp to hold your properties. LLCs seem to be the more recommended entity to use. But, it seems by themselves they too can have gaps in an overall Asset strate...
Roger R.
Assume personally held real estate to satisfy a 10-31 requirement
Hi,
I'm about to get into contract with my small building in NYC and will be attempting to do a 10-31 exchange. In this, I'm going to have to replicate 1.5mm dollars in financing with the newly exchanged proper...