All Forum Posts by: Bryce Litwin

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.

Quickbooks

That said, I wish we had Series LLC legislation here in PA. Seems perfect for the real estate investor.

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.

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.

Landlord responsible to make sure the furnace works, tenant responsible to pay for the oil/gas/electricity.

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...

I would say the tenants are responsible, not the condo owner.

Flashlight for sure.

Maybe a tape measure and some screwdrivers?

I’m not selling anything but will look to buy more stocks and/or real estate while it’s on sale...