All Forum Posts by: Oswald Gomez
Oswald Gomez has started 1 posts and replied 3 times.
Post: Should I establish a business entity for my first rental?
- Sacramento, CA
- Posts 3
- Votes 1
@Nathan G. Thank you, yes I actually hired a property management company who screened the tenants for me and had them sign a contact with all the legalities included, it definitely cut down my profit at the end of the day but I figured at this early stage it’s better to be safe.
Post: Should I establish a business entity for my first rental?
- Sacramento, CA
- Posts 3
- Votes 1
@Andy Webb Wow thank you for the insight!
Post: Should I establish a business entity for my first rental?
- Sacramento, CA
- Posts 3
- Votes 1
25M from Sacramento, CA and I bought my first rental home in June of 2019. I plan on purchasing more once I save up enough for closing costs again. Now my question is, should I establish a corporation entity for my rental in order to claim the business as additional income? When I apply for the second loan would they consider the debt from the first mortgage as taken care of from the rent? I apologize in advance if this is a silly question I am very very new at this. Thank you!