All Forum Posts by: Sheen Jowl

@Bob Norton @William Hochstedler @Marcus Auerbach Thank you very much for pointing me to the more detailed material. I think we'll target treating the LLC as a partnership to show separation from my own assets. Looks like the extra tax filing burden is not too bad, just an extra form 1065. The only thing I'm not 100% sure and still doing investigation on is in form 8582, how to handle the fact that some properties were on previous year's 8582, but this year they become owned by a LLC, which is a separate line.

following up to make the information complete. a little more research shows: 

"Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin are community property states." In these states LLC owned by spouse can be treated as single member LLC.

Thank you so much. I did some research following this direction. One thing I don't quite understand is if the LLC has 2 members - husband and wife, it needs to be teated as partnership for tax return. it requires more paper work but eventually it flows back to the schedule E if a joint return is filed.

it sound simpler if the LLC only has one member and the property just stays on schedule E, but I don't know moving a property owned by husband and wife to a LLC owned by only one of them causes any tax impact?

Hi BiggerPockets,

I wonder if anyone has experience in moving properties from personal name to LLC. The properties stayed on my 1040 Schedule E for a few years and have accumulated loss when depreciation is included. However no loss was deducted against my w2 income because the w2 income is too high. So my questions what to do with these loss when the properties are moved? Do they stay on schedule E? - I doubt because they are associated with the properties. Am I able to keep them as unrealized loss in the LLC and continue the depreciation? - that's the best case because it is better not to add the loss back to the cost basis and start over.

Thank you very much.

Hi BiggerPockets forum,

I'm a single facility rental house investor in TX. I've been concentrating in Austin and Dallas. While it's good to enjoy the appreciation, I'm thinking diversification to Houston for larger cash flow. However I wonder if hurricane is a risk, and does that actually make investing in Houston riskier even though the rent to price is better?

Thank you.

Hi BiggerPockets forum,

I'm a single facility rental house investor in TX. I've been concentrating in Austin and Dallas. While it's good to enjoy the appreciation, I'm thinking diversification to Houston for larger cash flow. However I wonder if hurricane is a risk, and does that actually make investing in Houston riskier even though the rent to price is better?

Thank you.

Hi Bigger pockets community,

I got a question regarding to the limit of "10 financed properties" for conventional mortgage. I wonder is private lending mortgage counted within the 10 properties? My understanding is it's counted if it's under my name, but not counted if it's under a LLC. Anyone has the experience to confirm my thinking?

Thank you very much

Yes. This is what I found on the website.

Hi BP community, I wonder if anyone has experience with https://www.velocitymortgage.c... or https://www.foacommercial.com. I'm planning to take a blanket loan for my single family investment properties. I have 3 properties that free and clear, but I'd like to get a little bit leverage. I'm planning to bundle each property with a new purchase to do a blanket loan of 2 properties @ LTV of 50%. In this way, I only need one transaction for each purchase, comparing to refinance and then purchase with finance. 50% LTV is where I can get 1.2 debt service coverage ratio.

any suggestions are welcome. Thank you.