All Forum Posts by: Tim Matthews

Quote from @Eliott Elias:

I'd get with a CPA for this. 

I've been on the search for a CPA as well. Do you have any recommendations for a CPA who can setup these business entities and is familiar with asset protection structuring? I plan to scale up after this stage.

Quote from @Chris Seveney:

@Tim Matthews

Kkos law probably can do it the question is do you really need this? I find many people go this route but they end of causing a ton of heart ache come tax time and pay a lot in fees and company registrations which setting up this structure could be an overkill

Thanks for the recommendation. I started to go with them, and I still might. Sometimes I listen to Mark Kohler from KKOS on YouTube and I don't always totally agree with his recommendation. But I can see the value of at least getting these structures setup the right way through his company.

I too am looking for this recommendation. Please let me know if you have any CPAs in mind. 

Quote from @Rahul Gupta:

I am looking for recommendations on a CPA who knows the ins and outs of real estate taxes and can advise a new investor on strategies to help maximize returns. I need my taxes done soon so it will be really helpful if i can get some recommendations.

Hoping to find someone who is good and does not break the bank. You can also PM me.

Thank you

Hello,

I am seeking recommendations for an attorney who specializes in asset protection and privacy for rental property business entities and land trusts. I need to have a Wyoming LLC setup with an Illinois Series LLC being owned by that Wyoming LLC. These entities should be setup with as much privacy as possible, with my name not being on public records if it can be helped. Can you all please provide a capable attorney that can set these entities up for me (and who also won't charge 10k for these services)?

Thank you!

Thanks for your responses. The reason why I brought up the noise problem is because it would be an annoyance for the tenant who lives below the top floor. That would include me too if I decide to househack 🙂

Hello,

I would like to receive some advice from the group about using carpet vs vinyl planks in an upstairs/downstairs duplex. I need to replace the floors in the upstairs unit and am considering adding carpet in a few rooms instead of using vinyl planks in every room.

One main reason for doing so is the building is really old and does little to dampen sound between floors from footsteps and TV noise. Sure, carpet is not sound proof, but it can aid in dampening some of the noise. Other reason is that there are some rooms that get colder than others in the winter, so it would be more comfortable to walk on carpet instead of cold floors.

Other than those reasons, is installing carpet more or less cost effective than installing luxury vinyl planks?

What other advice would you offer while trying to decide between carpet or LVP?

Thanks in advance!

If I understand correctly, I recommend finding a way to condition the space in your garage, which will be under the room you want to make your office. If not, during the winter, your office space will be extremely cold because the air flow in your building will go from the ground and up to the top of the structure. If you can find a way to heat up your garage, then it might not be so bad. If you can't, you will find it difficult to keep the temperature in your office under control, even with a space heater. Speaking from experience here.

I'm interested in this as well.

Hello,

Can anyone recommend a company that installs submeters or RUBS to split utility bills for gas and electricity in the Chicago area? It is for a small multi family building.

Quote from @Jonathan Klemm:

Hey @Jp Smith - You are not alone with your Chicago zoning and permitting confusion.  Everything you have is pointing towards a 3 flat so pull another zoning cert. and if it comes back as a 2 flat use the info you have to justify it being a 3 flat as @Brie Schmidt mentioned. 

Here is a link to the application: https://www.chicago.gov/conten...

Is that Certificate of Zoning Ordinance for checking what type of zoning the property is currently zoned as or is it for requesting the zoning to be changed? If it's the latter, then I have received mixed information from both the Zoning Dept and the Building Dept, including getting a lawyer involved, contacting the alderman, etc. Just would like to know how to do this from people who may have gone through the process before.