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llc

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    How Do I Take Property Out of an LLC?

How Do I Take Property Out of an LLC?

By Ilyce Glink| 2020-04-30T12:32:03-05:00 April 30th, 2020|

How do I take property out of an LLC? This reader wants to know how to take their house out of an LLC that’s in administrative dissolution.  Q: I hope you can help me with this mess. I have an ex-partner who talked me into putting my house into a limited liability company (LLC) with [...]

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    Will Banks Lend to an LLC?

Will Banks Lend to an LLC?

By Ilyce Glink| 2020-03-02T12:59:40-06:00 March 2nd, 2020|

Will banks lend to an LLC? How the commercial lending process, interest rates and costs differ from residential real estate loans. Q: Are there any lenders that will loan money to a limited liability company that wishes to put up free and unencumbered land as collateral at less than 50 percent loan to value? I [...]

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    Personal Residence to Rental Property in an LLC: Calculating Cost Basis and Taxes Owed

Personal Residence to Rental Property in an LLC: Calculating Cost Basis and Taxes Owed

By Ilyce Glink| 2018-05-04T08:54:39-05:00 May 4th, 2018|

A personal residence became a rental property and was put into an LLC. How do you calculate the cost basis and taxes owed now and in the future on the property? Q: I read your Real Estate Matters article every Sunday in the Columbus Dispatch, and they have been very helpful in understanding many of [...]

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    What Are the Implications of Transferring an Investment Property to an LLC?

What Are the Implications of Transferring an Investment Property to an LLC?

By Ilyce Glink| 2017-10-31T10:18:35-05:00 October 27th, 2017|

Purchasing an investment property as an individual that you plan to transfer to your LLC later can have a ripple effect on your liability and property taxes. Q: I own a limited liability company (LLC) that holds some rental properties free and clear. The commercial lenders I speak with aren’t interested in a loan smaller [...]

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    What’s the Best Way to Manage a Family Owned Property?

What’s the Best Way to Manage a Family Owned Property?

By Ilyce Glink| 2017-09-18T11:43:47-05:00 September 18th, 2017|

With a family-owned property, the rules can get complicated. Here’s what you need to know. Q: Eight members, cousins and siblings, currently share ownership in a summer cottage in Maine. Our current rules have worked fine for over 80 years but as the family ownership expands, things will ultimately get more difficult. We are considering [...]

  • rental property LLC minimize taxes real estate investment property
    Permalink

    Putting a Rental Property in an LLC to Minimize Taxes

Putting a Rental Property in an LLC to Minimize Taxes

By Ilyce Glink| 2017-09-03T22:54:05-05:00 July 13th, 2013|

Before putting a rental property in an LLC to minimize taxes, be sure you can depreciate the building to reduce your tax liability.  Q: I recently inherited a rental property. The property is rented and cash flow is positive, despite the fact that there is a mortgage on the property. Currently, I do not need [...]

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    Should You Set Up an LLC for Tax Purposes?

Should You Set Up an LLC for Tax Purposes?

By Guest| 2018-05-29T11:10:15-05:00 April 29th, 2013|

Many times when I’m helping new small business owners, they ask me questions about what kind of business entity they should form. Many have heard about a Limited Liability Company (LLC) and want to know more about personal asset protection and the potential to save on taxes. Here’s the real scoop: While you may certainly [...]

  • use LLC to buy rental property
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    Using An LLC To Buy Rental Property

Using An LLC To Buy Rental Property

By Ilyce Glink| 2017-04-27T11:49:32-05:00 February 23rd, 2012|

You may want to use an LLC to buy rental properties, it may be more cost effective to own in your own name with good insurance in your name. Q: I recently purchased a rental property in Illinois. The title is held jointly by my wife and me. We got an investment mortgage for 80 [...]

  • LLC S Corporation better for real estate investing
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    LLC vs Corporation: Is An LLC Better For Real Estate Investing?

LLC vs Corporation: Is An LLC Better For Real Estate Investing?

By Ilyce Glink| 2017-06-07T13:51:20-05:00 September 23rd, 2009|

Most people prefer an LLC for real estate investing. But some accountants still recommend that their clients use an S Corporation to invest in real estate. LLC, or limited liability companies, have become the method of choice for real estate investors. Most states have laws that permit the use of limited liability companies or some other company structure that is similar to an LLC.

  • LLC limits type of mortgage lenders
    Permalink

    LLC Limits Type of Mortgage Lenders You Can Use

LLC Limits Type of Mortgage Lenders You Can Use

By Ilyce Glink| 2019-11-26T14:52:29-06:00 January 19th, 2009|

When you're a real estate investor you may decide you want to create a limited liability company to hold your real estate assets and to protect you. When you use an LLC to hold your properties, you're limited in what kind of mortgage lender you can work with to get a mortgage. Mortgage lenders have to specialize in either residential or commercial real estate loans.

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