Jerry Alvey
LLC structure and tax advice
If I own 2 LLC in Texas and one in Oklahoma would it be best to open one umbrella LLC at a bank and list these 3 LLC's under it? I'm looking for protection and to pay less taxes.
Rebecca Pantschyschak
Can you run properties as "one business" while in separate LLC's?
I've talked to accountants and tax agents and no one seems to think this is a normal situation, but my understanding from the BP world is that people do this all the time - am I wrong? I want to own my properties in s...
Caleb Reits
Must knows for managing your own rentals
My boyfriend and I are investors in the GR area, as we get more deals under our belt (when it makes sense) we will probabbly hire a property manager. But for now, we will self manage. Are there any MUST KNOWS when man...
David Walker
Should I get an LLC ?
I currently have an single family house in which I live in with my wife and kids. We want to start to buy and hold property for rentals. Do I need an LLC to start out ? I would also like to know how do you keep obtain...
Nathan P Tanner
Help me undertand the profits with the BRRRR method
Please let me know if I’m seeing clearly Here? (This is for the Bay Area in California)-Home is 330,000$ (paying cash)-Closing cost : Buyer and seller agent fee, Property, title, escrow, misc @7.5 % =24,750$ -rehab co...
Danielle Morton
Changing Ownership of 1031 exchange
So my parents did a 1031 exchange almost 5 years ago and bought a beach home which we rent out. Me and my brother have been managing the property and my parents consider us owners in this. My question is, can this pro...
Samantha Baker
How to know if refinancing will still have my property cash flowing
Hello, I recently completed a house hack that I turned in to a rental after living there for 4 years. I just completed my first year of rental income and great cash flow 800/month cash flow. I am still in the window t...
Mark Terry
Limited Returns Business Startup - ROBS v Solo 401k
Hello BP community. I have spent the last couple of weeks researching my start up, meeting with Attorneys and CPAs trying to find the strategy the best suits me. I have lurked in the forum and done loads of research...
Jacob Ramsey
Need help understanding my financing options for first rental property
A partner and I would like to purchase a residential multi-family property this year. Most likely this would be a duplex or triplex. In the areas that we are looking at, the property purchase price would be under 200K...
Justin Denham
Income shifting to kids
I asked my CPA about shifting $6,300 to each of my kids on my tax return for the work they did in my business. He told me I would have to 1099 them. Is that correct?