Adam Sanders
Looking to transfer my 3 properties in Minnesota to LLC's
I am ready to move my properties into individual LCC's for asset protection. Looking for a local expert in Minneapolis that can walk me through the process.
Brenda Wright
What are the LOOPHOLES about an All-Cash vs. Conventional loan?
We are closing on a deal on a passive income property and wanted to know what are all the loopholes?- Property is in Memphis.- Property is worth 100k.- Plan on purchasing 15 properties.- 7% ROIWhat are the ad/disadvan...
Mike M.
Short term rental and security
I'm looking to put a lake house into the short term rental market. It's in a good area with high weekly rental expected (> $5,000 per week in peak season). Looking for some insight from experienced STR's about wh...
Thomasina Pearce
Should a beginner set up an LLC for their investment properties?
Hi BP family! I am currently reading Real Estate investing 101 and the author advises against owning investment properties in your own name & recommends setting up an LLC as a form of personal asset protection. I ...
Lyana Yonk
one tenant moving out (roommate situation)
Two friends rented my apartment a year ago, one announced to me that she is moving out at the end of the lease. The other said she wants to stay and she is looking for tenants. What if she doesn't find tenants? How to...
Ismael Ayala Jr.
Land trust or LLC or both? Bank accelerations?
I've heard about LLCs for a little while(Wyoming being the most popular) and the tax and liability benefits that come with it. So I have 2 questions.1) Can a bank initiate an acceleration clause because they find out ...
Christine Stone
To LLC or Not to LLC
Hello BP Friends! I'm ready to look at starting an LLC for my properties, but I've heard mixed advice about their necessity and benefits. I would be starting the LLC as a disregarded entity and reporting my profit/los...
Levin Angeles
Should I form my LLC in my state or where the property is located
I live in NYC and I wanted to refinance my duplex in Toledo into an LLC. I've always heard you should have the LLC be located in the same state as the property but my lender recommended to form the LLC in the state w...
Nate Bartlett
Recording a mortgage on seller finance deal.
I'll keep this short. I'm purchasing a property from a fried in Illinois (Cook County) using seller financing. Purchase Price: $54kDown Payment: $10k at closing, $3k in 6 monthsTerms: Remaining $41k amortized over 30 ...
Corey Duran
Can I have multiple LLCs operating out of one bank account?
With the help of an attorney and some responses here, I have come up with the game plan to have a business structure as follows:Trust (Top ownership that owns the management company)Management Company LLC (first actua...