Joseph Velez
What Are the Benefits of Creating an LLC for Your Rental Property
Since I was asked about LLC's this week I'll share this article I read today.There are four benefits of creating an LLC for your rental property:1. Limit Your Personal Liability
If you own your property as an individ...
Account Closed
Best practices for bookkeeping if not under LLC
Hello,I’m closing on my first deal and have decided to hold off on putting the property under a LLC. Since I wouldn’t have an EIN to create a business checking account, am I allowed to simply open a new personal check...
Angie Castro
Shared utilities for ADU
Hello! I have been assisting my clients in purchasing homes for rent that have ADUs. We do this because their cash flow is good. This is hard to do in this market. The thing is that the utilities are always shared. So...
Marco Morkous
Package deal contract
When purchasing multiple properties as a package deal, is there a way to have it under one contract or does it have to be a contract per house?
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4-PLEX VERSUS 8-PLEX FINANCING
I have been looking at a number of multi-family units and have found one listed: 2 buildings with 4 units in each building. In discussing with the listing realtor, I was told by the realtor that the building are more...
Joseph Weiss
Homeowners insurance for 2 buildings on 1 parcel. Two policies?
Do I need two separate insurance policies?I have a 3 unit multi-family rental in Michigan. 2 units are in a duplex, and the other unit is separate (it looks likea single family home next door, but is actually on the s...
Drew Lied
Current Owner is Paying Utilities - How to switch to tenants
Hey everyone,
I'm looking at a small MF complex in OH and the current owner is paying the utilities. I would like to push them onto the tenants.
1. Does anyone know if it's possible to get the units metered (basical...
Wayne Connelly
Should I use an LLC to manage my rentals?
I know the advantages of TITLING a property in an LLC. Separate from that, I think that I remember hearing a RE guru say that in addition to this, setting up a separate LLC to MANAGE rentals offers additional protect...
Ashley Wolfe
Buying a large house to turn it into a duplex
Hey BP,I'm looking around at a lot of SFH properties that are on the MLS in my area under $100K. I came across one today that is very interesting. Its a 1957, 2-story, 3,000+ sq ft 6/3/2 on the market currently for ...
Byron Paille
Have package deal for 5 home, need financing
I have an opportunity to buy 5 homes as a package deal. Agreed to 365k on a 440k price. 2 with renters, 1 ready to rent 2 needs final finishing to rent. How do I get this financed. I do not want to do 5 closing on 5 h...