To S-Corp or not to S-Corp, that is the question

So let me run you through this partnership I have going on. I'm part of a group of 5, 2 of which have purchased a property under their entity (an S-Corp) with a bank account where all funds are flowing through (funded with venmo and checks paid by the other 3 members).

We have a partnership agreement between all of us behind the scenes, therefore our names are not on any deed or on the property (personal liability isn't an issue as that is covered by their S-Corp). The question I have is does it make sense for me to sign this partnership agreement in my name or should I create an entity (LLC or S-Corp).

Currently I'm paying directly out of my bank account and plan to just toss all money I invested plus the profit back into my bank account. I'm worried about how that will wash out at the end of the tax year and was wondering if anyone had any experience with this type of partnership or had any suggestions!

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FTHB | Do I Need to Switch Realtors?

I live in Charlotte, NC and the market for houses under 200K is incredibly hot. Houses that get listed are under contract the same day.

My Aunt recently bought a house and was pleased with the realtor she used. I have been using the same realtor who has started to show me houses over the last month. However I have not signed the "Exclusive Buyer Agreement" document.

There are a couple concerns I have. The realtor is not sending responses to my inquires within a few hours and communication overall is not good for houses that go under contract so fast. Additionally there are listings that I see online via that he isn't sending me. This isn't a large realtor organization, I believe it is just him. Should I be looking for another realtor? What kind of questions should I ask when signing a exclusive buyer agreement with a realtor?

Would appreciate any guidance on should I be looking for another realtor or the reason I maybe getting delays in response is because I have not signed the "Exclusive Buyer Agreement" doc.

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Will combining two bathrooms into one significantly lower value of house?

We are buying a 3 bedroom 2 bath house (pretty small for a two 3 bed 2 bath, about 1500 sq ft) but the bathrooms are very small. Like can barely sit on the toilet and be able to open or close the door.

Anyways, the bathrooms are right next to each other; just a wall in between. If we knock that wall down and just make it into one bathroom, will it lower the value of the house? I'm sure we'll eventually sell it when we need to upsize.

tl;dr Buying house with two small bathrooms, want to combine them into one. Wondering if this will lower value of house.

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NYC : What’s an “Option Payment”

I applied for a "No Fee" Apartment and was told I needed first&last + security to move in, and a $100 application fee a $1k good faith deposit. I had to send them the $1148 via paypal to get the application ($48 in paypal fees).

It looks like this $1k good faith is toward a 1 months fee, which has to be completely paid to even get the lease.

Am I misreading this? I wanted to get a 2nd or 3rd opinion before I go to sign the lease. If not, I'm in a bind now looking for a no-fee place by tomorrow.

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Wells Fargo is taking their time approving my mortgage, but not hesitating to go into my bank account and take money out.

I got pre approved and started the process of getting a mortgage loan from WF at the beginning of this month. It was all going great until it got sent to the loan officer. She requested a contact for my employer to confirm my employment there, and after I sent it I didn't hear back from her. I sent an email a week later asking if she was able to successfully contact my employer and what my loan status was. She told me that they had just received the written confirmation of my employment the day before and that my loan had been sent to underwriting, and that I would know if it had been approved in 2-3 days. A week passed and I saw that they had gone in and removed 1200$ from my checking account without my authorization, for my rate lock. I emailed her asking why she did this and demanded an update on my loan. She responded telling me that it was for my rate lock, and sidestepped the question about my loan status entirely.

It's now been over a week since she told me I would hear back about my loan approval, and WF has gone into my account and taken 1200$ out of it for a rate lock, for a loan that I don't even know if I have yet. Combined with the 600$ they got for credit check and fees, they have 1800$ of my money. If the loan gets rejected, do I get this money back? Are they allowed to take their sweet time with the loan approval process?

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FTHB Negotiation Advice

Husband and I have put on an offer on a home that has been on the market 2 months. We like the area, school system etc.

The home was listed at 95,000 and we offered 80,000 with seller covering closing. They came back with 95 + seller closing. The home needs some cosmetic work, replacements and a tree removal. We also need appliances. We countered 85,000 but they are firm at 95,000. Is this a normal practice for a seller to be so firm on purchase price? As far as I know there hasn't been much interest and the location/lot isn't "desirable". We don't want to lose the house as we really love it but we also don't want to overpay. Should we counter with 88,000 or 90,000 or pay the 95,000?

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Portland OR + Homestyle renov loan?

Hi guys – Looking to bid on a home #2 in Portland, OR, a fixer but lots of potential in a great neighborhood..would live here for a long time. Home #1 will be used as a rental, with $1K profit coming in per month.


  • (Potential) buying price – $450K
  • Renovation cost – $100K
  • Putting $140K down in cash (Around 28%)
  • Will finance the rest, around $410K
  • Credit score is excellent, 790


  • Is the Homestyle Renovation mortgage the best bet for me?
  • I'm working with a loan officer to shop around, and also directly through Chase – Can they both offer this type of loan?
  • Is there a benefit to put more than 20% down?

Thanks all! Not as educated on loans and homebuying, but trying to learn as much as I can.

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