Corinna Woodcock
Guidelines for what to expect to pay a CPA for first year LLC taxes
Hello!We were just hit with, what I feel is, an exorbitant tax prep bill of $1850. It's a new LLC with just one NNN rental income source. This cost equals 5.5% of our gross income for the year (nearly 2/3rds of one m...
Andrew Taylor
Tax Implications of Balloon Payment?
We sold a property last year and are carrying the note. Buyer has been making monthly payments and is due to make the balloon payment in a few months. I'm wondering what the tax implications are for both the payments ...
Lauryn Meadows
S Corp vs LLC for flips
Hey all! I'm wanting to get into multi families but I need some capital to do that. My thought is to do flips to fund multi families in the future.Do you guys suggest an LLC or a S Corp for house flipping? Should I se...
Jim Kalish
Pros and Cons of holding property on an LLC vs personal name
We currently have 5 properties with 9 doors. Three of them have mortgages that are in my name. We have lines of credit on 3 of the 5 and I'm trying to find someone to give us lines on the other 2. We also have been...
Jean Bolger
1031 exchange: selling as individual, buying as LLC?
So, I have a property that is held jointly by my husband and me (title is in both our names). We'll be selling this as part of a 1031 exchange, and I would like to take title to the replacement properties in a LLC (wi...
Phil C.
Liability Protection w/ Land Trust and LLC for Two People
Me and one other person will be purchasing an investment property and are not exaclty sure how to properly set up our land trust(s).
This is how I understand it to work:
First we set up a Land Trust (one for each ...
Jesse Imes
1031 Exchange Deal in New York
Hello! My buddy in Buffalo, NY is doing a 1031 exchange and may run into a potential issue which could happen to myself in the future as well. The house he sold was paid off and in his LLC. The current deal is for a 4...
Elliott Beckstrom
Should I put Single Family LTR in LLC
Hi! I have a property in Denver that I'm renting out long term. I got a letter from my mortgage company that said I can move the title into an LLC if I like without triggering the due at sale clause. This is the only...
Hussein Myr
Questions about the business model and activation of our LLC
As a newcomer in the home renovation industry, I highly need expert advice. I own an inactive LLC with my friend, and we intend to activate it so that the company can be eligible to utilize mortgage and construction l...
Sukhwant Kaur
When is the right time to have an LLC
Hello, I started my real estate investing in 2013 with my husband. Now we have 1 condo and 2 4plexes. My husband and I have a full time job and we do real estate investing part - time. We save and buy properties for...