All Forum Posts by: Vinod Dasani

I may be wrong but the way I understood the proposal it only applies to itemization for your primary residence.  Investment properties wouldnt be affected  

Base the price on the rent he is charging you now?  

@Cole A. - no, basically the corporation files the returns and all profits and losses goes on the corporate tax returns. The final profit/loss then gets distributed to the members based on their share. The LLC pays no taxes and the profit/loss gets transferred to members via K1

The returns are not affected based on who guarantees the loan.  The share is distributed based on membership percentages 

If you want something really basic you can visit your local Office Depot store and they carry lease agreements.  Additionally, you can also get something online using websites that allow you to enter information specific to your property and then based on your state they draw up a lease agreement. You pay at checkout for the online agreement and its pretty simple.  Finally, you can also have a real estate agent or attorney draw up an agreement for you.

Multi-member LLCs passes through the profits and losses directly to its members via K1.  Thus, the corporation does not get taxes.  All profits and losses are transferred over to its members based on their share and individual members pay the taxes on the profits based on their income bracket

Multi-member LLC would be my recommendation. This would keep your personal properties and flips independent of each other as well.

In that case maybe better for someone else to find the venue who is more familiar with these events and has attend one in the past

@Kindrell Hutchinson - That sounds great.  I think you will do well with these.  

@Kindrell Hutchinson - All the best to you..  Since its cash flow positive even at the higher interest rate I don't see a reason to not do it.  When you decide to go through a bank your cash flow will only increase (if interest rates are lower) and assuming you get a commercial loan for 30 years.  The only thing that I dont like is the bundling of the loan.  All the best to you!!

@Jordan R. - I can give you my opinion as an investor.  If this were to be offered to me I wouldnt be interested and moreover you talking about flipping the property but honestly with the information you provided on cash flow I dont see where you have room to make money even in a flip.  All the best.