All Forum Posts by: Tzvi Keisar

Looking to purchase condo/s in the Miami/Fort Lauderdale/Boca areas, must pass 1% rule, reasonable neighborhoods, tenant occupied preferable.

Hi,

I'm looking for a recommendation for a general contractor in metro Miami area - Parkland/Boca Raton/Pompano Beach. For extensive renovation including roof, flooring, bathrooms, windows. Someone good but affordable.

Thanks

Hi,

The appraiser in the city of Ferndale, MI decided that my rental property value increased by over 20% YoY from when I bought it in June 2024. I have an appraisal from June that year with value of 180k, while the county assessor decided it is 225k this year. There were no renovations done since purchase.

I missed the appeals window (I received the mail late February and the window closed early March). Now the equalizer says I can go to the Michigan Tax Tribunal, but since there is no appeal in the Board of Review, there is a slim chance they will accept the appeal.

Has anyone been in this situation before and can help me understand my next step? Should I appeal to the Tribunal? it is a $250 fee and according to the equalizer it is money down the drain...   should I sue the city/county? any recommendations for a good property tax lawyer?

Thanks in advance!

Anyone worked with a tax strategist they can recommend? I'm particularly interested in the following areas:

* offsetting ordinary (w2) income with bonus depreciation (with cost seg) on RE investments as REP

* 1031 exchange

I already read a lot on those subjects, but I still have questions, so I need someone with lots of patience to listen and answer my questions.

Appreciate your help!

Hi,

I'm looking for a property management company to help me with tenant placement (not full PM service) in East Lansing/Okemos/Haslett area for a couple of long term rental properties I own. (I'm an out of state investor).

any recommendations?

Thank you in advance!

Investment Info:

Single-family residence buy & hold investment in Lansing.

Purchase price: $82,000
Cash invested: $20,000

2bd/1bath in Lansing, Michigan. Good condition. Added gutters and fixed roof problems.

How did you find this deal and how did you negotiate it?

@Josh Nelson helped us find the property, video walkthrough, negotiate, and pretty much everything we needed. Highly recommend working with Josh in this area!

How did you finance this deal?

DSCR loan, 20% down

Lessons learned? Challenges?

Finding renters is the difficult part. Got to have good boots on the ground to help with showings and make sure the house is in good condition. Luckily, we found @Mollie Muncaster from BHHS, she went above and beyond to make sure people can see the property on their own schedule, that the house is in good showing condition, and pretty much everything we needed to be able to rent it out. I am very thankful for her support and I can not recommend Mollie enough if you need an agent in the area!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Mollie Muncaster from BHHS, she went above and beyond to make sure people can see the property on their own schedule, that the house is in good showing condition, and pretty much everything we needed to be able to rent it out. I am very thankful for her support and I can not recommend Mollie enough if you need an agent in the area!

@Josh Nelson helped us find the property, video walkthrough, negotiate, and pretty much everything we needed. Highly recommend working with Josh in this area!

Some interesting topics here. I have questions related to the topics:

1. Credit cards - I have multiple LLCs owned by a holding company. I also have bank accounts for every LLC (A Chase business account for the holding company and Stessa's virtual bank accounts for the subsidiaries so it is super easy to manage). There are perks for paying with a credit card, but it is a hassle to get one for each LLC (Too little revenue for Brex, Ramp, etc.). I do have a Chase Ink business credit card for the holding company. Questions are regarding liability protection and corporate veil in those situations:

A) Is it ok to pay with the holding company's credit card for expenses of the other LLCs? I am doing proper bookkeeping and making sure expenses are reported for the right LLC, but wondering about the veil protection here...

   B) Does anyone have experience with a credit card provider that can easily issue credit cards per subsidiary without a lot of hassle?

2) @Megan Templeton when using an Operations LLC, are you using S-corp? Is the income not considered now regular wage income (this is the main business of the company) and requires to pay either employment or self-employment taxes?

@Drew Sygit the link is in my reply. Copying the law here:

Agency: Licensing and Regulatory Affairs

A resident agent and registered office must be included in the Articles of Organization. A resident agent is someone who is appointed by the company to receive any documents, notices, or demands served upon the company. The resident agent must be a Michigan resident, a Michigan corporation, a foreign corporation with a certificate of authority to transact business in Michigan, a Michigan limited liability company or a foreign limited liability company authorized to transact business in this state.

@Chris Davidson what if there is someone in the business who can accept and sign incoming mails during business hours? Is that not enough?

@Drew Sygit an agent can be an individual or an entity, according to the law.

I'm going to form an LLC in Michigan (Let's call it My-MI-LLC). The LLC will have a real business address.

Can I use My-MI-LLC as the registered agent when filing with the state? Or does the RA must be a different entity then the business itself?