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Does jp Morgan provides headset too
Where’s everyone partying tonight 💃🏻
He is Risen!!!!
I should have chosen shift work over call
Does jp Morgan provides headset too
Where’s everyone partying tonight 💃🏻
He is Risen!!!!
I should have chosen shift work over call
I have a trust - that holds my rental properties as LLCs. Then I have a mgmt company LLC’d to manage the properties. This protects me - as I do work on the properties myself - and if something goes wrong - I can’t be sued personally- and I have a level of a anonymity.
There are pros and cons of this approach:
Pro:
The trust provides a level of animosity
The trust allows my heirs to avoid probate
The trust allows my heirs to avoid estate tax
The trust lives on after I am gone
This allows me to scale with protection
Cons:
The trust costs about 4k to set up
The trust doesn’t offer any protection,
but the LLCs do
It can be a complicated structure that requires you to be on top of your bank accounts
The trust doesn’t off any tax incentives
To refinance the property, you have to use an attorney to take it out and put it back into the trust, and lenders can be picky at times
Before you established the LLC, were you still able to expense things like mileage, repairs, administrative costs, etc. without a problem? I'm also curious how it would play out for an owner-occupied multifamily unit