All Forum Posts by: Dustan Marshall

galvanized plumbing corrodes from the inside out. So it will restrict the flow of water. And any water system is only as good as its weakest point. Example: if you re-plumb the entire house but leave a galvanized 90* just after the meter that is before any of the units, they will still have poor pressure because that one bad piece will still restrict the flow.

anyone?

thanks Bryan L

thanks Jenna. I see that one often when I am searching amazon. I will certainly have to add it to my next order

I have one SFR so far and would love to learn more about taxes, leveraging my assets, and real estate finances in general. Any suggestions on good books would be helpful! Thanks

@Sam t. I believe that in my state (Ohio) it is required that all evictions by an LLC have lawyer representation. But if it is not in an LLC no lawyer is required.

@ Brooklyn R..... I am in the same boat. +100 -100. Is a wash. Somewhere down the line you will have to pay tax on it.

This was just what was brought up in our conversation. I am still trying to work through it to see whats possible and how it would be beneficial.

thanks for the quick replies so far guys

we hold the keys till then show us the recipt from the utilities being put in their name and deposit in full.

after listening to last weeks podcast and read in about investors of buy and hold properties, that create a property management LLC and use the LLC for their properties... it got me thinking.

I liked the idea of it. Not sure how it would effect taxes or evictions. But I like the feeling of " one degree of separation" that the property management LLC potentially provides between The tennant and I as well as legally should something happen.

I was talking with some other investor friends who brought up creating another LLC for handyman/ construction work. So that when you odd jobs or smaller stuff needs to be done on the rentals you can then pay yourself to do the work And invoice that LLC which would then be an expense for tax purposes. This is in lieu of doing it yourself anyway and not getting the tax benefits or having to pay someone to do it...

So my questions are...

Is the property management LLC worth the trouble for a smaller time investor. (Only one property so far but would love to do 10-15 later on)

How do the taxes and evictions work if I use that property management LLC for other investors properties?

And lastly is the contractor LLC legal? It sounds like a lot of paper work for save a small amount of money for a small time investor like myself.