Peter Lu
How to handle 1031 with Tenancy-in-Common title?
I have a property that is held as Tenancy-in-Common with my sibling on the title, let's say for the sake of example that I own 70% and the sibling owns 30%. Will it be very complicated to do a 1031 Exchange for my po...
Corey Reyment
LLC
Do we need to hire an attorney or could we do it ourselves? What are normal costs to set up an LLC? Here is what they sent us. Any recommendations?"The $1,275 Two Member LLC flat fee we discussed includes the creation...
Account Closed
Canadian Citizen Looking to Invest in US Real Estate
As the title says, I'm a Canadian citizen who is interested in investing in real estate. I'm interested in rental properties and notes in particular because their liquidity is attractive to me. I've heard of people bu...
Sunny Burns
Hired Interns/laborers to work investment property, W2 or 1099M?
Is it true that you don't have to file taxes if you make less that $10,350(W2), but if you receive 1099Misc income, you have to file anything over $400?I am mostly interested in this, because I just hired some interns...
Justen Ashcraft
tenant moving out 3 months into lease (evicted) kind of
So I have a tenant that was late 2 months ago, last month was served a writ of dispossession before she paid cash on the 8th day, and this month hasn't paid as of yet. I believe she is moving out currently and I alre...
Pixel Rogue
After 12+ months, titles are still no in our name (!!)
We closed two properties at the end of 2019. We discovered that the deeds were never recorded in our name when we went on a hunt to locate school taxes. In August title company blames everyone else (including state we...
Chris Carrigan
LLC or Umbrella
Having a hard time making the decision on putting a new STR into an LLC or just getting an Umbrella policy. In NC it costs about $450 a year in fees for the LLC (Annual Report and Franchise Fee). I currently pay a C...
Jim Bentley
Tenant wants to install tornado shelter
My tenant called, and they want to pay to install a tornado shelter (this is the kind that goes in the garage floor; only takes a couple of hours and costs around $2500). This is in Oklahoma, about 15 miles from wh...
Daniel Dishner
Getting the most out of an LLC - Arizona
Hello BP Community, I'm a relatively new agent in Phoenix, AZ ~8m in. My goal is to really get going on some deals this year and my broker highly recommended I open up a PLLC for myself. So I filed with the state abou...
Stephan Jenkins
Contract Threatening to File Lien - Missouri
I have all the invoices and copies of every check I wrote him and every penny is accounted for. He still thinks I owe him another $4,000 but refuses to show me an invoice for that money. Now he is going to file a lien...