Chris L.
Does anyone have experience with 1031exchanges and LLC's?
I presently have a property in NJ that is in an LLC and I would like to sell it and buy investment properties in NC. I'm unsure as to what the first steps are that I should take OR if having the property in an LLC aff...
Jason Malabute
tax prep and accounting cost
Hey BP Community,
I’m curious about how much other real estate investors are paying for their tax preparation services and accounting. Specifically:
1. Tax Prep Costs: What are you typically paying for tax pr...
Mizael Quinones
Qualified Joint Venture
Hello, BP
My wife and I decided to place our then primary residence for rent in Nov/Dec '19. Its our only rental property. We did not file for LLC or anything like that. Is it necessary to file under qualified joint ...
Ben Stout
Trusts with LLC as beneficiary
If you have a trust in which your LLC is the beneficiary, is it possible to commingle funds?
From what I've read the trust is the owner of the property and you need a trust bank account, etc... but trusts generally ...
Anthony Milin
Looking to set up my LLC
Hello BP community,As I’m starting my venture in REI listening to all the advice of having an LLC for your properties. This is to project you from any law suits as well as tax benefits. From what I’m told the LLC need...
Greg Smith
Can I lend my LLC money?
I ambuying a house through my LLC with mostly personal money. Can i buy a house, pay 20% from the LLC account and then make a loan to the LLC for the balance? Is that necessary? I try to keep personal and company m...
Nicholas Stolfa Ryder
What tax election do I pick for my LLC for real estate
I started an LLC for my wholesale business and later for when I acquire rentals, what federal tax election should I pick, a sole proprietor or corporation? I’m the only person in the company
Nick G.
Property transfer to LLC - Tax implications for depreciation
In the following example: 1) I bought a rental property in 2011 for $100,000 which has been fully rented since.2) I transfered the property from myself to a single-member (myself) LLC in June 2017. The "sale" price w...
Sally Forth
LLC Loan Taxable Event?
Hello, we have had an investment property in an llc for many years. We now want to take a loan against the llc property and use the loan money as a downpayment on a vacation home. The vacation home will be in our na...
Jason Baehr
Insurance for flips?
I'm currently closing on my first flip house. Its a 1350 sq ft single family home in the Houston area and needs mostly cosmetic work. My hard money lender requires I have homeowner insurance so I started by getting a ...