Robert Shedden
"Rental Property" LLC held in "Property Management" S-Corp
I am asking the basic question of "LLC or S-Corp for Rental Property?" but with a twist....I am working to acquire my first rental property in Rockford, IL and was planning to set up an LLC to hold the properties... A...
Max K.
Offer accepted, adding contingency to P&S?
My partner and I recently put a cash offer on a fix & flip property that we plan to finance with hard money. The offer was submitted and accepted without any contingencies. We already have a letter stating pre-app...
Theresa Reynolds
Insurance for Rental in Montana....and forming and LLC or not?
I have a SFH house under contract and am looking for insurance on it. It will be vacant for a few months while improvements are being done and then it will be a rental property. Anyone from Montana have any recommenda...
Carlos Lez
Need help with evicting truck parked on property
Dear members
As a gesture of goodwill I allowed one handyman to park his truck on a corner of my rental property premise for a short duration. During this period he has hooked up an extension to draw power from the h...
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...
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...
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...
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 ...
Kenneth LaVoie
To LLC or not to benefit from better mortgage terms
As many of you are aware, if you own a building in your own name, 1-4 units, you can often get great "FNMA type" financing where you get a decent interest rate, lower DP, and literally locked in with no rate changes f...