All Forum Posts by: Bryce Litwin
Bryce Litwin has started 1 posts and replied 57 times.
Post: Buying a first rental property in Kissimmee fl
- Danville, PA
- Posts 58
- Votes 58
If this is a rental property, the lender will likely require 20-25% down payment. If funds are coming from your IRA it should not effect your tax rate. Make sure you have plenty of additional funds in the IRA to deal with repairs/maintenance/capital expenses/vacancies, etc. as you cannot just fund the IRA easily beyond your yearly allowed contribution.
Post: Software to track rental income and expenses
- Danville, PA
- Posts 58
- Votes 58
Quickbooks
Post: Separate Your Children Or Assume All Risk
- Danville, PA
- Posts 58
- Votes 58
That said, I wish we had Series LLC legislation here in PA. Seems perfect for the real estate investor.
Post: Separate Your Children Or Assume All Risk
- Danville, PA
- Posts 58
- Votes 58
Not all states recognize a series LLC. I'm not an attorney, but this is a relatively new entity structure, and my understanding is that there is not much case law yet.
Post: 30 day notice to vacate
- Danville, PA
- Posts 58
- Votes 58
At this point it’s just a non renewal, not an eviction. Just give the 30 day notice. You’re probably not going to get the last month rent. Just be happy if he leaves on time and you don’t have to evict.
Post: What is renter/landlord responsible for?
- Danville, PA
- Posts 58
- Votes 58
Landlord responsible to make sure the furnace works, tenant responsible to pay for the oil/gas/electricity.
Post: Is This 13 Unit Deal Worth Going For?
- Danville, PA
- Posts 58
- Votes 58
Regarding the lower taxes on the 12 unit that sold, did you make sure that figure included both the real estate taxes and the school taxes? I have come across listings which did not include both...
Post: Robbed by Tenants in an HOA - who is responsible?
- Danville, PA
- Posts 58
- Votes 58
I would say the tenants are responsible, not the condo owner.
Post: what all should I bring when walking through potential properties
- Danville, PA
- Posts 58
- Votes 58
Flashlight for sure.
Maybe a tape measure and some screwdrivers?
Post: How are you hedging your portfolio?
- Danville, PA
- Posts 58
- Votes 58
I’m not selling anything but will look to buy more stocks and/or real estate while it’s on sale...