All Forum Posts by: Linda Dalton

I still own the 3 properties and two of the original tenants are still in place! I am in the process of selling them as I want to move into multifamily units in WA State! I no longer self manage my OFS properties, to be honest self managing was something that I should have kept doing, I enjoyed it and frankly I did a pretty amazing hassle free job and my tenants were happy. I have yet to find a PM that has the investors best interests, the the hardest part of OFS investing. Good luck with whatever you decide to do.

Linda

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Looking forward to it!

Thank you, Linda

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Grant Cardone! Check out The 10X Rule (Grant's book) and his podcasts and those on BP

https://www.biggerpockets.com/renewsblog/2015/02/05/bp-podcast-108owning-350-million-real-estate-10x-rule-grant-cardone/

https://www.biggerpockets.com/renewsblog/biggerpockets-podcast-250-grant-cardone-multifamily-investing-buy-house/

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@Anthony Drew Gary you can sel manage or select a PM company of your own choice!

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@Jeandre De Beer I have three SFH in Atlanta and use All County Expert Property Mgmt for two of my properties! So far I really like working with them! I have also used Excalibur but find All County to be more personable.

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@Dave S. Hi Dave , did you have any luck getting a HELOC on your investment property. I have a couple in GA that I would like to pull equity. Thank you, Linda

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Originally posted by @Sami Davis:

Originally posted by @Linda Dalton:

Grant Cardone states that you can buy a house, put it in an LLC and then you can rent it from your LLC and write it off, is this legal?

Its legal. Then remember you have to report rental revenue. If you have an LLC with no income IRS will likely conduct an audit to determine if the LLC is an actual for-profit business. In addition future issues that you will need to research regarding depreciation recapture issues and if you qualify for Home Sale Tax Exclusion when you sell your home in the future. You may also be limiting yourself with HELOC opportunities since the LLC owns the home and you own it indirectly.

Thank you!

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Grant Cardone states that you can buy a house, put it in an LLC and then you can rent it from your LLC and write it off, is this legal?

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Will do! Thank you

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@Ali Boone Hi Ali, I am currently looking for a good PM company in Decatur also, do you mind sharing who you are currently using and what you love about them? I need someone to manage a Section 8 property and a possible turn over!! Thank you, Linda

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All Forum Posts by: Linda Dalton

Linda Dalton has started 1 posts and replied 25 times.

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