Brian Schroeder
Forming a LLC in illinois
I am buying my first rental property. I have no dept and my net worth is about 150K, and I would like to keep it that way. Questions are 1. Do I open an LLC to protect my personal assets? If something should happe...
Account Closed
tax refund on rentals claim losses? confused?
Ok quick question regarding taxes. I purchased my first rental and on my earned income i make under 25k a year as a server (don't claim enough tips), basically I am looking at purchasing Albert Aiello's tax software, ...
Matt Sora
Renting from your LLC
Is it possible to create an LLC, Buy Properties and place them in it, then rent it yourself from your LLC? What would be the benefits from this?
Sarah Miller
Check out my Chart of Accounts please!
I am a data guru/excel junky and part of my professional gig is building automated tools using Excel and Access and lots of coding and macros. I have built a simple (in my highly automated subjective opinion) excel s...
Adam Scheetz
What Questions Should I Ask the Self Directed IRA Provider??
I want to setup a Self-Directed IRA. I have a list of dozens of providers. Before I start reaching out, what questions should I consider asking to ensure they are the right fit? To provide context: I'm an Active-Duty ...
Jeremy VanBussum
Transferring Title to LLC - Deed
Hi, I am a newbie seeking legal advice regarding my first investment property. I hope someone can help who knows the ropes. Here is my situation:
I purchased my first investment property with 25% down and the rest of ...
Mack Fleming
Real Estate "Dealers", Installment Sales, Deferred Taxes, and the IRS
The IRS does not allow real property Dealers to use the Installment Plan method of accounting. This means that if the Dealer does an Owner Financed sell, he/she is responsible for the tax liability for the entire pape...
Reuben Stone
Calculating PP with changes in State regulations
I have an interesting question for everyone! I am looking at a mixed use deal right now. The rents in the apartments are a good amount below market. The building has the ability to produce 140000+ in rental income wit...
Erik Martin
Multi Family Investing Out of State
Hey everyone, My name is Erik and I have been a lurking on Bigger Pockets for awhile, learning and reading about real estate. I am finally in need of some guidance, so I decided to make my first post. Me and my busine...
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...