Catherine Brennan
Seeking LLC advice and MI resource
We are buying an investment property in the Upper Peninsula (MI). We are located in Chicago, IL. And, we need to figure-out the best entity to purchase it under.
Our CPA recommended this:
The most efficient struc...
Paul Haviland
Purchasing LLC vs. Real Estate - Depreciation Impact
If someone purchases an LLC (that owns the real estate) as opposed to purchasing the real estate, is there a tax implication regarding my ability to depreciate the LLC's Assets. For example, if the prior owner has de...
Al D.
A Warning to Ringless Voicemail Users (Telemarketers)
I am talking specifically to you, RLC Investor Group out of Memphis, TN, as well as all other telemarketers.First, let me explain why I am p*ssed off: On a Monday in August, at 0604 hrs (that’s 6:04am,) my 79-year-old...
Christopher Guerriero
LLC for rental houses, but houses not purchased under the LLC
I own 3 rental houses in New Jersey that were purchased through personal mortgages in my name. My accountant has directed me to form an LLC for each house so she could write off the losses and carry over the loss to m...
Marc Dufour
HELOC
I applied for a HELOC 4 months ago with a bank...still processing. Can I apply with a new bank in parallel or will it impact my credit score to apply for 2? How long does it typically take to get a HELOC?
At what tim...
Jesse Dejesus
New to OOS investing.
As an oos investor, would I have to pay double taxes? Do you recommend opening a Lcc? I'm just getting started, have one primary and one investment property.
Chris Loy
Conveying townhome into a multi-member LLC
My parents own a townhome as joint tenants. However, they want to transfer it to a separate entity (likely an LLC) for protection against liabilities and to start growing their portfolio. I *believe* that the IRS does...
Gene Chen
Tax Consequence - Transfer to Single-Member LLC in California
Any BPers have experience with this?Considering transferring a property with no debt into a single-member LLC in California. It will be structured as a capital contribution, so no value will be exchanged and tax basi...
Isaac K.
Real Estate CPA who can do LLC tax filing
Hi BP,All the brand name CPAs like Provisions, Mark kohler or evne Clint Coon's firm charges around $8K-$10k for LLC real estate tax filing. Those are famous firms and I know those are also for big busienss people. Fo...
Nicholas Mahon
Recommended RE attorneys in N Jersey
Hi BP Carebears!Does anyone in N Jersey (jersey city, Hoboken) know of any good RE attorneys? I'm lining up my ducks to get into my first purchase and wanted advice on series LLC formation. Thanks!Nicholas