Q. i heard there's some sort of tax law that forces me to register as an llc or a corporation if i own 3 or more residential rental properties, is that true?
A. There is no such requirement.....check with a CPA to see if it makes sense. For most people it doesn't. Corporations open up a whole new can of worms that most people don't want to deal with.
Salou, Spain: Can anyone give me a website for listings of RESIDENTIAL rentals and home for sale, not holiday?
Q. Would anyone be able to link me to a website for residential rentals and home for sale, not just holiday rentals in SALOU, spain?
I've googled to no avail...
I've googled to no avail...
A. just try this sites:
http://www.propertysalespain.com/search/53/189/Salou_property.html
http://www.thinkspain.com/properties-in-spain/3/10/45/5915
http://www.arkadia.com/usa/real-estate/for-sale/spain/catalonia/tarragona/salou/
http://www.kyero.com/property_guide/52417-salou-property-guide
http://www.propertysalespain.com/search/53/189/Salou_property.html
http://www.thinkspain.com/properties-in-spain/3/10/45/5915
http://www.arkadia.com/usa/real-estate/for-sale/spain/catalonia/tarragona/salou/
http://www.kyero.com/property_guide/52417-salou-property-guide
How can I buy residential real estate in an LLC with 40% and no personal guarantee?
Q. Any loan officers out there who can help me with this? I want to buy residential rental properties in the Phoenix, AZ area with 40% down. I would prefer to do so without a PG if possible. If impossible, or significantly better terms are available with a PG, I'm open to it. Would like 30 year fixed loans (conforming loan amounts). Any feedback is appreciated.
A. You probably won't find anyone who will do the loan without it being guaranteed personally unless it is a portfolio program and those are usually ARM's and then the LLC would have to have established credit and income to be able to qualify for the loan by itself. World Savings used to do these loans. I don't know if Wachovia is continuing with that program or not. They used to do it, but usually it required a personal guarantee.
You might check with WAMU, too.
I don't believe that freddie and fannie will allow a property to be vested in an LLC. They certainly won't allow the LLC to be the borrower.
What about putting the properties in a trust? That could work with agency programs although you are still the borrower and the trust would have to be approved. Just a thought.
Good luck.
You might check with WAMU, too.
I don't believe that freddie and fannie will allow a property to be vested in an LLC. They certainly won't allow the LLC to be the borrower.
What about putting the properties in a trust? That could work with agency programs although you are still the borrower and the trust would have to be approved. Just a thought.
Good luck.
What is the best city in Florida to own rental property in?
Q. I wanted to know what is the best city to own residential rental property in Florida?
A. I would definitely say Orlando that is the biggest toruist area in the US
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