Alan Martinez
Starting LLC in Indiana as out of state investor
I plan on buying a rental property in Indiana as an Illinois resident. I'm guessing I will need to create an LLC in Indiana?Anything else I should be aware of tax wise, etc?
Yoshi M.
Buying House
So I got about 40k USD cash and am 23 years old, that I have been saving up for about half a decade and I plan on moving out of my parents soon. I don't pay rent/electricity etc. at the moment and essentially pocket ...
Robert E. Medlock II
How can you house hack a MF and still hold it under an LLC?
Hello BP community. I have been racking my brain for the past few weeks trying to understand how NOT to violate the "Due on Sale" clause.Here's the scenario: Jane wants to buy a 4-plex. However, as a new investor of m...
Account Closed
Properties in LLC or creating a DBA for each?
So I have a question. I have 2 properties under an LLC, and I would like to purchase more properties in the near future. I know there are alot of forums on here about LLCs, Incs and DBAs. But I don't know if this h...
Scott Schultz
Reverse Mortgage Sheriff Sale
I was the successful bidder on a Sheriff Sale for $48K, value around $100K the foreclosing entity is Carrington Mortgage, its a federally insured Reverse mortgage, and they record the originating mortgage, and FHA rec...
Ian Livaich
Legal Consequences of Using Private Money
Hello everyone,I am considering using a family member as a private lender. He would fully finance the property, including rehab costs. Most importantly, I am trying to structure the deal in a way that best protects ...
Account Closed
LLC and Property Management
Do you need to get a LLC if you have a property manager looking over your rentals?
I was told that you did not need to create an LLC if you had a property management company taking care of your rentals. Can anyone he...
Simon Stahl
Process to move property to LLC without piercing the LLC
What would be the proper process to purchase a property in my personal name and then move it into an LLC. My guess would be that first, I'll purchase the property in my own name. All expenses are being payed from my p...
Jordan Decuir
Aluminum Wiring Risks/Costs
I am in my option period to purchase a home in Houston built in 1983 that has aluminum wiring. What should I watch out for with the aluminum wiring? What are the risks? The intent is to hold this property as a long te...
James Stewart
SDIRAs, LLC's, multiple states - and just beginning
If someone can provide sage advice to a novice, I would be grateful.
I live in Colorado, opened an SDIRA in Ohio, but would like to buy rental properties in Indiana. I've read its wise to use an LLC for rentals, l...