Josef G.
Creating a Property Management Company
I am thinking of creating a property management company (LLC A) in Pennsylvania to manage couple of properties I already own under my personal name and a LLC (LLC B). I've read that in Pennsylvania, one does not need ...
Vlad Kuzin
LLC and Payroll Questions
There are hundreds of topics on this forum regarding tax strategy for LLC. When I talked to my CPA, they explained if I will classify my company with IRS as S Corp, then I will be avoiding paying self-employment t...
Trevor Hatchard
Corona Related Distribution (401K Distrubtion)
Hey y'all,
Looking for any help and advice with this process, I want to use my 401K Schwabb from my previous employer and reinvest it into a multifamily property in southern california. I understand this takes creati...
Kevin G.
STR Permit Requirement
Hello BP-I purchased a home in Truckee, CA with the Intention to Rent out the property on an STR basis. The town requires an STR permit before renting and they limit the number of STR Registration Certificates to 1,2...
Patnaree Conrad
401k withdrawal for REI
Hi I am new and still learning about REI, I have been listen to BP podcast for a couple months and I think it is time For me to do an Action. My case, I want to do long term rental ( at least to start) so I dont have...
Becca Tew
Help! Financing rejected because income can't be counted in D/I
I'm in a bit of a bind and I'd really love some advice. My lender has rejected me last minute because he was unable to count my property management income towards my debt/income ratio since I haven't done my 2016 taxe...
Joel Burt
SELF MANAGED LLC = NO ASSET PROTECTION?!
I'm getting ready to go to closing for my first rental property and I am terribly confused. Facts:-I am purchasing a single family rental property with a conventional mortgage from my bank.-I have created a Pennsylvan...
LaShonda Jordan
Planning to Start and have no experience
Hello, My name is LaShonda. I am 22 years old and I live in Benton, Ar. I have always watched home flipping shows on HGTV and found it very interesting , and recently after praying to God to lead me to a prosperous fu...
Denise Frazier
IRA that is not Self directed to purchase rental tax question.
So I bought a property using money from an old IRA. I didn't do the self directed since it was only $20K. The setup cost along with the yearly fee would be more than the 2k penalty for using the money. Here's my quest...
Abigail Ping
Construction loan for flipping homes
I am currently looking at several properties to flip that have varying remodel requirements. A couple of the properties with the most potential are not eligible for a conventional loan because the properties are not "...