Ben Smith
In need of CPA First time filling taxes with rental income
I purchased my first property last year. It is a single family house with a mother in-law suite. I have been living in the mother in-law suite and renting out the main house. I have several questions about what I can...
John Canchola
Partnership, S-Corp or C-Corp LLC? for passive cash flow?
Hi GuysMy dad and I are 50/50 Managing Members of an LLC (filed as "Partnership"). He is 62 and I'm 42. A couple of years ago we just paid-off our bank loan, reduced our operating expenses to a bare minimum and are r...
Sean Matthews
Formation of an LLC (location, costs, DIY)
Hi there,I am interested in getting passive income via real estate, ie. buying to rent. Nothing spectacular, just to make a start with some money that I've saved up. I read a few articles about opening an LLC in state...
David Kim
Do you have any personal rules for when to file an insurance claim?
Historically, I've been very averse to filing insurance claims for fixing things like broken windows, since I worry about premiums going up too aggressively, and the general ability to get insured at all. I just kind ...
Mike Wells
Astonished at my tax services bill!
I have 6 rental properties, all Single Family Homes. I was previously paying a tax professional around $800 to $900 to prepare my tax returns for my 6 properties as well as my personal. I am using a new tax profession...
Chris Kirkman
Best state for holding LLC for taxes?
My wife and I have the strategy of owning investment properties under LLCs formed in the state each property is within and want to place all these LLCs within the ownership of one holding LLC. We live in California i...
Tom C
Advice on setting up an LLC
I want to setup an LLC for my property investment business, although I have been told not to title the rental property in the LLC's name, due to the fact that when evicting, you have to have an attorney to do the evic...
Matthew Walsh
Out of state LLC rental
I am about to buy a property (or 2) in PA for rental purposes. I have a NY LLC which I created for a NY deal that didn’t happen. Is there any reason I should or should not use this current NY LLC for purchasing my PA ...
Ryan Kelly
Way to Get First Property/House Hack While Being a RE Agent
Hi everyone,First post on here. I am currently a real estate agent (1099-Self Employed) and generate a solid amount of income doing so. However, after considering business expenses (which I try obv put as much as poss...
Michael Clemson
Newbie pre foreclosure question
if a home went into pre foreclosure 1.5 years ago and the sale is in 2 months, and the home is worth $130k, and the owed amount in the filing is $50k, what's stopping me from finding the owner and buying it for $80k s...