Anyone who is leveraging an LLC they own for their work, do you own and manage your properties via the LLC or own them under your name and manage the property through your LLC.

I'm trying to learn the ropes understand the benefits and downsides of each angle

like
Posting as :
works at
You are currently posting as works at

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.

like

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

helpful

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

Related Posts

Iam 5 month pregnant , thinking to get release from project due to health issue and taking maternity leave from april 1st, at this situation can I be in bench for 3 months and go in maternity leave ? Will this affect my job in Accenture? Will the organization allow to be in bench for 3 months? If iam in bench during maternity leave will i get variable pay

What are the interview questions asked for a lead business analyst at legato healthcare?

Is the company good enough?

like

What is the leave policy in Verizon data services India??
Is it true that there is a 8 week paternity leave?

like

How are the benefits at your company looking for 2021? Which company?

like

Does anyone know if Boston Healthcare Associates sponsors for UK to US shifts (based in UK, applying for a US role)?

like

Does anyone know EY’s policy to leave the firm after maternity leave?

like

What are the various employee benefits that lilly offers?

PwC vs Deloitte? Let’s say Deloitte pays me higher base, etc. I feel like pwc has done a better job at digital upskilling and providing resources for learning. Anyone have insight on other benefits of one over the other? What other angles would you look at besides money and how good the specific practice is?

likesmart

Rolling over an old 401k and need to pick which fund my money goes into. New to this world - where do I look to learn where my money should go? How do I go about checking if something is legit? (Fidelity; low-risk tolerance)

likehelpful

Any Med Express or other Urgent Care Managers out there? Is it worth it? Is pay decent? Etc. I have a BA in Healthcare Administration and Management and 3 YOE as a PCP office manager, 5.5 YOE in Healthcare altogether.

Offtopic: Which is the best health insurance (company) to buy for parents? Please suggest as per prior firsthand experience in claims, settlement, premium etc.

My parent has a star health policy for which the renewal premium is drastically increasing (almost by 50%) every year at age 51.
With such increase I do not think it will be viable for long term. So planning to switch/port.

This is to get general thought process. This is my 3rd company.
Tech stack: salesforce
CCTC: 24
YOE: 8
Planning to move to on-site next year. Family of 4. 2 toddlers.
Will this be worth not just in terms of monetary benefits also looking for the work life balance. Kids education.

I was offered a partnership at a small firm I used to work at before my current also small firm. We had come to terms and I expected to inform my current firm. To my surprise, my current firm made me a significant offer to stay. Not a partnership, but making more money and better benefits. I’m torn because the other firm is under the impression I’m coming in as a partner. But I can’t turn away from the significant offer I have from my current firm, where I enjoy working. Any advice/thoughts?

like

Can anyone throw some light avout new internet bills reimbursement added in ssc portal flexi options? Is it just for tax saving or can we also reimbursed interent expenses for upto 500rs ! Also are bill submission required for these?

Also if someone can guide best flexi declaration component that can be utilized for tax saving?

helpful

I’m looking to hire a financial advisor in the DFW metroplex area. Base Salary for the first year as time will be needed to transition the book. Benefits available. Message me for more details.

like

When is it okay to ask about maternity leave when looking for a new job? When I receive the offer letter and benefits information?

like

Partner just graduated college and is insisting on saving her income instead of contributing it to 401k as stocks are too “risky”. I know it’s not my money but this sounds like a recipe for deep regret in the future. Thoughts?

like

Hey guys,

is it safe to move to healthcare organization which is established in India only 2 years ago, but in US it was established around 160+ years ago, keeping in mind on recession and job security?

Please help me on this!!!


Fractal Infosys Tata Consultancy IBM Wipro Nagarro

like

I have an offer from IBM with band 7A. Could you please tell me how much hike i would get after 2 years if i join IBM, as i have an offer from TCS too and they are giving more than IBM. Also please mention the benefits which i will get.
YOE- 5.5 years
Domain - SAP SD

like

Are there any CA family law firms looking to contract out work (legal research, drafting briefs, disclosures, forms, discovery, etc.)? I have over 6 years of experience and am well-versed in family code and case law. (My attorney is on family leave so we don't have the workload I'm used to right now, and my husband might be switching jobs with a pay cut, so it wouldn't hurt to earn some extra money.)

likehelpful

More Posts

Will a pinched nerve under your shoulder blade, and elbow ever get fully recovered? Has anyone's? As long as I continue to stay working in tech on the computer, I feel like it's just gonna stay this way. Hate to even think this, but I feel like I might need to step away eventually. Even with PT for the last 3 years, I'm still in pain, numb and uncomfortable. On weekends now, I'm intentionally staying off the computer and my shoulder is less tight, but once M-F comes around, it's a cycle

like

Hi All,

How is epam anywhere different from epam systems ?

Can switch to epam anywhere from epam systems ?

like

Hi Sharks,

I have 2.5 years of experience after completing MBA and want to get into consulting. If someone can please give me referral in IBM, it would be incredibly helpful.

like

For those of you that have been in bi or data science consulting for a while, how many projects are actually smooth/not a complete clusterf*ck or sh*tshow? I’ve been in ERP consulting cont.

like

I received an offer from a REPE firm in Atlanta/DFW area offering $85k Base, $20k bonus, and $5k off my annual rent, roughly $110k all in comp. The role is for an asset management analyst position with 2 YOE. Hours should be 45-50 per week. Does the comp seem fair? I’m always reading about analysts and associates in REPE pulling in $150-300k but those are in HCOL cities.

like

Got this as a factory second. Any way to make the streaking less pronounced? Or is it not a big deal? (Left shoe in pic)

Post Photo
like

Hi everyone - just joined and love the great discussions. So I just lateraled to a MM shop from a no name boutique. I was wondering at what point the absolute earliest I can lateral again is? Would love to go to a top BB or boutique for the better buy-side and learning opps. I'm an analyst that graduated in May 2020. Looking forward to hearing your thoughts!

like

APS Service Territory can enter to win a $500 gift card. enter the drawing, teachers need to fill out an online form athttp://supplymyclass.com. It only takes 1-2 minutes total time to complete.

 

Does jp Morgan provides headset too

like

Thinking of taking Audit. What strategy helped MCQs only??

like

Where’s everyone partying tonight 💃🏻

like

New to Fishbowl! So glad I found this!! Cheers and Salutations to Everyone! Enjoy Your Day Always!!!❤️🙏💯

like

Can someone refer me in tcs for 3.9yr sap bo profile? 90days NP

like

He is Risen!!!!

like

I have a very hard time in the morning with my kids and breakfast. No matter what I make them they refuse to eat (probably bec it’s so early). My mornings are so rushed and this is stressing me out!

Any opening for resource management roles in big 4?

like

Hi All! I am looking to connect with Oracle professionals. Currently work in B4 and would love to meet folks with a background within Oracle security. Message me if anyone is open to new, full time roles.

like

I should have chosen shift work over call

like

Do any of you recommend switching to an account management role in the programmatic field from the implementation side of programmatic? I think I have the personality for an account management role, but I also do not want to loose any hard skills.

like

Anyone in Accenture Baltics?

I need some guidance. So appreciate your response.

like

Additional Posts in The Real Estate Bowl

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

Has anyone used homeroom? I saw their ad today it looks interesting. They are offering end to end services. Basically they help you find a rental property, close the deal and then you lease it to them. They will provide monthly rents to you.

like
like

For HVAC, Plumbing repair and maintenance do folks trust the big names like Horizon, Len the Plumber, WM Henderspn, SILA, or are the local pros better? Moving to a new house and a bit concerned on whom to reach out to, online reviews seem to be made up

like

I am about to close on a property this week, we are buying it as a second property but want to rent on Airbnb. I have business income of about 100k from my other business this year, can I write off anything from this transaction against my business income ? If I have to, can I quick claim and put the deed in my business name and claim expenses ?

like

At what pt in the transaction is the furniture for a home sold/moved? Had a buyer walk the day before closing so a bit paranoid about this time around. With the last buyer, they were going inherit the furniture so this wasn’t an issue, but the new buyer does not want it so trying to have them allow me to sell it (for 2-3 days) after closing day so I’m not shit out of luck. The property is an airbnb, so if i sell everything and this new buyer walks, I’m screwed as i’ll have to pay $3400 a month.

Hi everyone! I would like to start investing / creating a business in real estate either in UK or Spain, but I need some mentorship / coaching before embarking on this important decision. Do you have any advice on how to start on this ? Where to look for coaching? Etc… I have in mind short term rental properties and house flipping. I have good theory background but I need someone with empirical experience. Thanks !

like

Does anyone else think that central air is actually not that great? It’s noisy, and not sure how clean the air really is. I think I miss radiators.

like

Anyone purchase a Toll Brothers or similar new construction recently? Which home and hazard insurance did you do? Constructors also offer their own home insurance now. And what is rule of thumb for how much to insure?

like

When do you think the real estate market demand will start to stutter as aftermath of all the volatility in stock market?
SF BayArea housing is still super hot w/ each good house with multiple offers.

like

What are your thoughts on high property tax properties. Currently in NY but planning to move to Bergen County, NJ for good schools but most of the places have property taxes of $19K and above

like

At what point did you move your real estate portfolio into an LLc? Etc

like

Looking to build a CRE investment platform (think crowdstreet) for a startup. If you have CRE investing experience and interested in potentially starting a business, DM me.

like

Bay Area, CA fishes- any good lender contact in First Republic for rate shopping?

Recent sellers: how many offers did you receive, what was list price, and what offer did you accept?

like

How important is it to get a land survey before closing on a house? Can you wait until afterwards?

The lot is 0.5 acres and neighbors are a good distance away - the home was built 2 years ago and I have what appears to be a map of the property lines, etc. however there is no fence so still not sure of where my land begins/ends.

like

Hi, need some advice because very new investor when it comes to owning personally versus LLC. Currently own my home and planning to purchase two lots of land sooner rather than later. With three real estate assets under my arm, getting a little worried about having them all under my personal name. Should i create an LLC and purchase the lots under that name? Should i transfer my first home?

like

I’m looking to buy my second home which would be my primary residence. Depending on the price of the home, I may be able to keep my first home as an investment property. Even though I’m preapproved, my agent told me she will show me homes only if she has time after her other clients since I may have to sell my home to purchase my next one. Wondering if anyone else has experienced similar?

like

first time home buyer. combined income of $205k with partner. looking to buy something in the $600k range in HCOL. will be putting 10% down. how much money beyond the $60k dp do i ACTUALLY need before pulling the trigger? between closing costs, maintaining an e-fund reserve, anything else i need to consider... assume no furnishing costs.

like