All Forum Posts by: Courtney Nguyen

Each of LLC 1, LLC 2, LLC 3 above can own multiple properties operating means they can buy, lease, manage, collect rent? Then when it comes to tax we only need to file tax on LLC A?

Thanks!

0 Votes

@Conrad Cortes yes. My landscaper just told me he will charge $120 (labor and mulch) per each yard of mulch he will put. This used to be my cheapest guy when it comes to landscaping and he used to charge me only $150-$200 for 3 yards of mulch.

1 Vote

@Account Closed in the future, in between tenants, when you call utility companies to transfer them to your name tell them you don't want a contract but just a flexible month to month plan since this is for a rental property (normally here in Houston only electricity companies ask you to sign a contract but not all. Like Entergy never makes anyone signs a contract). That way you don't have to deal with cancellation fee, etc.

0 Votes

Dallas, Texas

@Luis Alvarez thanks so much. I really appreciate it!

1 Vote

@Luis Alvarez hi Luis. I just sent you a DM. Could you please share your structure with me too? Thanks!

1 Vote

I totally agree with @Henry T. . Get a good plumber to do a sewage scope to confirm if there is truly a break. I had 2 plumbers trying to scam me into big repairs for something they totally made up! Now that I have a good plumber who I trust, I always ask him to run the scope for something like this. If your plumber confirms there is a break, then maybe you can hire a handyman to do the excavating and all leg work, then have plumber comes in to do his thing. That will help you save a little bit on plumber's time.

2 Votes

Warren, Michigan

@Joel Owens thanks for the info. Haven't seen you here for a while. Glad to see you back. Still reading your book. Wish we had it when we acquired the property back then.

0 Votes

Denton, Texas

Quote from @Account Closed:

Much answered by others here. I'll add if the furniture tenant just leaves, that depends on the lease agreement provisions. Read it not just an abstract, there maybe a go 'dark provision' that permit tenant to ditch the space before lease expiration if they don't turn a profit and that might affect a provision in the other tenant's lease. But that provision might such they continue rent payments or a number of different scenarios. There's a number of provisions which address situations like go dim, landlord recapture, percentages lease, financial reportings see "kick clause". There's too much here I can't include in a few min. It would def be worthwhile to work with a attorney with commercial lease experience to review it. Having access to retail broker, like a good one is critical too.

Hi Will,

On financial reporting: how will you enforce that (if you already have that clause in the lease that requires them to report their financial quarterly)? Do we really need to put in lease that if they don't report their financial then there will be penalties? Or you only care about getting reports from them if they have issues with paying rent?

Thanks.

0 Votes

Denton, Texas

Quote from @Jeff Copeland:

Quote from @Alexis Herrera:

Awesome thank you for the detailed response!

You're welcome! I also sent you a PM with some additional resources to check out.

Hi Jeff,

Can you PM me with those additional resources too. Thanks!

0 Votes

Miami, Florida

Quote from @Patrick OHalleran:

Hi David - I used HallCPA for a Consulting engagement (about $5k) and found the tax planning support to be very helpful. Would recommend.

I will be using the firm for my 2022 tax return (1040 and 3 LLC's), expensive (about $5k-6k) but given they've assisted with the tax planning I'm hopeful the synergy will provide the best outcome.

Happy to answer any add'l questions.

Pat

Hi Pat,

Just want to confirm, that is HallCPA fee for filling 2022 tax for one 1040 and 3 LLCs?

Thanks.

1 Vote

Phoenix, Arizona

All Forum Posts by: Courtney Nguyen

Courtney Nguyen has started 13 posts and replied 131 times.

Post: New Jersey LLC Vs Wyoming LLC

Post: Rising maintenance costs

Post: How To Transfer Utilities Into Tenant's Name

Post: Can I have multiple LLCs operating out of one bank account?

Post: Can I have multiple LLCs operating out of one bank account?

Post: Sewer Pipe broken

Post: Commercial Retail - Big box store Out of State

Post: Commercial Retail - Big box store Out of State

Post: LLC for rental properties

Post: Feedback on The RealEstate CPA group (Hall CPA)