Stanley Jones
Tax form 2553 part 4 subsections P, Q, R
Hey BP members. After filing for the EIN under corporation status my team and I would like to change our status from corporation to s corp l. To do so we are aware that you must print and fill out form 2553 election o...
Jason Vo
HOA foreclosure auction
Hello BP, I'm new to RE Investing and ready to hit my very first deal at the HOA auction, but I have not been able to find a clear answer for the post process after acquired the property deed thru HOA auctions. I know...
Jason Pavloff
Trying to fine an online service to obtain my Texas state ID #
I'm trying to find an online service to obtain my Texas state ID #, in order to open a bank account for my LLC, here in Texas. I was told Legal Zoom could, however since my LLC has already been opened. Legal Zoom can...
Al Pat
Rental LLC election Partnership or S-Corp
I have a LLC that is owned by my wife and I. Ever since it was created, we have elected it to be treated as partnership and pay self employment tax on income (if there is income in a given year). My current accountan...
Sarah W.
GARNISHMENT IS IT WORTH THE TIME AND FEES REQUIRED
My tenant received a judgement but has not paid the ordered amount. She is not working a steady job at this time and probably change jobs repeatedly in the future. The security deposit only covers half the judgement a...
Account Closed
How to take advantage of 2018 taxes
Hello all,
I'm new to the real estate investment game in Boston. I currently own the rental property under my own name and deferring to put the property under an LLC/S-corp until I accumulate another one. Though, I'm...
Rebecca Six
Impact of Estate Planning Trusts on 1031 Potential
My husband and I have rental properties titled in a single member LLC owned by my husband. These properties were exchange properties from a 1031 transaction several years ago. For estate planning purposes, we want to ...
Jerilin Buzzetta
Unauthorized occupants -- vandalism and trespassing? Lockout?
Hello--I am an out of state owner with a triplex in Rhode Island. My property manager learned this morning that one of the units is full of unauthorized occupants (no one in there has a lease). He went in the apartm...
Michael Lines
Lost Change of Beneficial Interest in Trust Documents
I made my first real estate investment back in 2006. I had a little help back then but here is how I remember the transaction. Owner placed property in land trust, we immediately executed a Change in Benefi...
Chad Jarrah
Purchased Sheriff Sale Prop - Removing Squatter Tips
Hello BP! I recently purchased a property through a sheriff's sale in Pennsylvania. I did my homework and the judgement was brought up by a first mortgage lienholder. The house has good equity to start. I spoke with ...