All Forum Posts by: Brandi K.

@Justin Igoe

youcan file your own 1099's for around $5.00 each on Yearli it takes less than 5 minutes each.

@Adam Dansby I've used Quicken for about 7 years and have had no issues at all. The version I have is built for rental properties. I belive it's called business,rental and Personal.

@George Fleming Better make sure it's legal to do that. In some places if utilities are not split you can not have them in tenants name. You are able to charge them for utilities though.

@Marjorie Patton get loans and credit cards under your business that don't show up on personal credit. Yes you will pay a little higher interest rate. However completely worth it.

Your best bet would probably be finding a local small bank or possibly credit union or find a way to come up with the other 5%.  There are a lot of small banks that are no longer looking to do commercial RE loans anymore.

@Mark Graham II you are over complicating it. It looks just like any other sale. Seller financing mortgage is paid at closing by your funds left over funds are yours.

@Aaron Kaminer close a DSCR loan and you shouldn't have outbof pocket cost if there's at least 25% equity.

We currently use the BRRR method and put lots of sweat equity in. We also have a general construction company that is taxed as an S-corp. We have never paid our construction company for services. Should we be? Our son will be old enough to do some work for us this summer however I was lead to believe he would have to be a W-2. Which we only run payroll through our construction company. My CPA has given me any direction in this and discourages from employment of children..

@Kirstyn Indy discover and citi bank do

@Graeme Harris This is going to very highly by location and their rules. Recently we had a place re-zoned to convert to duplex.