Kerry Drake
LLC holding primary residence?
I recently started a wholly owned LLC to perform fix and flips initially, with the idea of transitioning to buy and hold as the cash reserves allow. Is there any tax incentive, or disincentive, to transferring my ...
Tristan Pearrow
DSCR Loans: Lending Parameters, Key Features, and Up to 10 Units
Hey BP Community, a lot of you have had questions since I posted about DSCR loans last week. So...
Here's a follow up on my last post. This time I’m going to highlight some of the features of a few DSCR options for v...
Aaron W.
Establishing legal entity
Currently own three multifamily fourplexes (2 in Ohio, 1 in Missouri). Plan to continue to purchase more soon. Currently reside in Virginia.Working on establishing a legal entity and spoke with one law/cpa firm. The...
Devlin Melvin
How does running an LLC affect your financing situation?
For example, Ive heard you cant get a HELOC if you have the property in an LLC. Ive also heard you'll pretty much have to put a 20% downpayment for a conventional loan. Are these true? And how else can owning an LLC a...
Art Maydan
Being Paid Through LLC vs. Personal
In addition to property management, I do hourly work for a rehabber. Would it be better for them to send a 1099 to my property management LLC or to my personal name? Both are justifiable since I end up managing the ho...
Loren Becker
Insurance for SFH bought in a S corporation
Hi,I am purchasing a SFH in my S corporation to flip.1. What type of insurance do I need and any recommendation on insurance companies?2. Do you purchase the policy during escrow or after escrow is closed? Thank you,L...
Lauren Norwood
LLC w/ S-Corp Election vs. Plain S-Corp
Hello,
What is the difference between the two or are they treated the same by the IRS? I keep getting different answers and I just wondering if someone could clarify.
Thanks,
Lauren :lol:
Tim Viviano
LLC and piercing the corporate veil
I am interested in hearing opinions (not legal advice of course) if you have the time to respond. If I purchase a rental in my name, keep the loan for it personally, and deed the property to my LLC does that make it e...
Kenny Rains
First Time Filing Taxes
I purchased my first property this year and I am researching how I should file taxes next year. My property is operated under my LLC and I use business banking accounts. Can anyone share their method for filing taxes?...
Lee Liberman
Operating LLC used as asset protection
Does this structure add any protection?Properties are purchased in my and my partners individual names (tenants in common) for the purpose of renting.We use an LLC (owned by both of us) to move money around for income...