Starting a property management company

4 Replies

had an idea to open a property management company as an LLC. My idea is to take my 3 properties I currently self manage and pay my own company a monthly management fee. Then I can write that amount off taxes but not sure what costs would be involved on the LLC. I guess I could pay myself then the company shows basically no profit on paper. I have been a landlord many years but not the best on tax laws

Do lots of research online and then schedule a meeting with a lawyer to learn what you don't already know so that you are in compliance. Every state, county, city, is different. Good luck!