All Forum Posts by: Shant Kallibjian

Thank you Austin and Alfath - Please forward ASAP. 

Shant 

Hello BiggerPockets Community …

I’m not satisfied with my existing property manager in Dayton. Can anyone make some suggestions, and retable and reliable managers?

Shant

Sounds good folks and thank you

Hi BP Community !!

Need some advice - I have 3 properties and, have created an LLC for one of them. I am "testing the waters" before fully adding the remaining two into individual LLCs, as this is my first time doing this.

The property is in Memphis, however I live in Los Angeles. There are a couple of credit unions and small banks, which I can join to use their business banking services, even though I am not a resident of TN. OR, I can always go to Chase or BOA for their business banking options as they are national.

My question is which one is the better choice? Yes, there will be limitations of a TN financial institution as I live in CA, and I have read articles about potential tax and filling season issues if you bank outside the state where the business is registered. 

Thank you - Shant 

Hi Folks 

I live in the Los Angeles, CA area but have rental properties in Memphis, Little Rock and Dayton. At this time, my strategy is to create two separate LLC entities but, would like to ask the forum for any attorneys they can suggest to use?

Looking to file in either DE or WY or a mix of both. Comfortable working with a non-CA based attorney as well. 

THANK YOU !!!

Hi Lisa 

Your comment makes sense and, I will be meeting with my tax guy on Friday to discuss. Just trying to figure the waters and, what works and, what does not. 

Hi Folks

I have an IRS tax filing question. I purchased my first two rental properties in January 2021 and, am working with my tax preparer for the first time and rental schedules. Both properties are professionally managed and, reported accordingly to the IRS. I am doing this as a joint filing with my wife and, not as a business entity, nor do I have an EIN. 

My question is, before I made those purchases, I went to a couple of different cities for tours and worked with Realtors. Made an offer one property but, it fell through and, I did not move forward. Can I use the expenses receipts for those two trips, for properties purchased in a different city? Basically, can I claim my "shopping around" expenses? 

As a follow up, can I use my expenses for my attendance at BPCON 2021 as an "educational" expense towards my tax fillings?

Thank you - Shant 

Hi Folks

I am looking at possible investment in Birmingham. Any updates on the specific neighborhoods, mentioned in previous posts?