Darsh Patel
Should I create an LLC for my properties?
Hi everyone, I own a few small multi-family properties (8 units total) and I have heard that it is good to transfer rental properties over to an LLC ownership. I wanted to ask what would be the benefit of doing this?...
Johnny Khoury
Memphis Tennessee Taxes
hi every one,Just came to my attention that I have to pay Taxes on the income I got from my property in Memphis, is that true ?
Bienes Raices
Warranty deed--need to use an attorney?
The consensus seems to be that a WD is better than using a quitclaim. Is this something I need to pay an attorney to do or is it fairly straightforward and something I could do on my own to save money?
Paul Balyoz
Optimizing time spent with bills, statements, receipts; paper vs electronic
As an owner-landlord of 20+ single family homes across 3 states now, I am spending an inordinate amount of time handling bills, statements, receipts and other paperwork, both in physical-paper form and electronic. I p...
William Thorn
I’m under contract and just found out the seller is being sued.
I’m under contract on a 22 unit apartment building in Phoenix. I have my inspection tomorrow and met with the broker today and he said they were just sent a letter from a lawyer saying the seller going to be sued rel...
Ron P.
Accounting for Multiple Flips
I have multiple flips going, all under one LLC taxed as an S-Corp, and have the accounting structured as follows:- One Quickbooks file and one bank account for each property. I could use one file and one bank accoun...
Account Closed
BofA giving me the runaround - auth form
So far, my dealings with BofA have gone like this
- Faxed in my authorization letter, wait...wait...wait some more
- finally, they see it in their system
- When I call the loss mitigation...
Maryann Fialdini
Title Insurance Claim Denied -- Need Advise
Purchased a condo and received an estoppel from HOA - had multiple special assessments identified plus seller's HOA unpaid dues listed and all were paid from proceeds at closing. One month later, lawyer for HOA wrote...
Anita Z.
Should I form an LLC ?
Hi, Is it best to form an LLC if I have 8 rental units? I Know I can get an LLC online, but do I need a business license or should I get one if I'll be managing the rental units?What are the pros and cons if any?
Account Closed
Am I being too paranoid? (LLC structure & insurance)
Let me preface this by saying my ultimate goal is asset protection- that is my #1 priority. Now, moving forward I have an umbrella insurance policy, and will be opening an LLC for my current rental property. At ...