All Forum Posts by: Simon W.

@Simon W.thanks!  do i need to keep meeting minutes for each business meal?

@Simon W. thanks! are you saying that there's no limit to the number of meals for business? as long as I'm discussing REI during the meal?

@Sean O'Keefe thanks Sean! speaking of IRS, i created an LLC for my REI business. Both myself and my wife are the only members of the LLC. Are we allowed to have a business meal once a month and expense it to the LLC, the dinner is for the purpose of discussing the real estate business. Are these busines dinners a legitmate business expense that i can submit at tax time? how many of these business dinners can I do per year?

-Marc

Help! I have my mom on our LLC because of her great credit. We fix and flip and now looking to do a cash out refi on a rental we have. She has the better credit, so lender wants to use just her. Will this affect her survivors benefits social security income?

Hi everyone, we are thinking of charging a monthly maintenance fee to cover our semiannual preventative maintenance inspections (where we check for leaks, clean the AC unit, replace the furnace filter, etc.) and also a once a year gutter cleaning. We're also thinking of having a two-tier program. One which covers the PMIs and gutter cleanings and one that adds a weekly mowing service during the summer months.

I know one property manager nearby who charges $30/month for such a service. I just wanted to get a feel for what others are charging for this or if they are charging for it at all. I think will help us (and hopefully some others) when it comes to properly pricing this service. Thank you in advance!

 The family member is wanting or hoping to turn the equity into a portfolio with an income stream. They do not however have the knowledge, credit score, or physical ability anymore to fix or get into real estate. They assume adding my name to the deed would make it a better position for me to leverage the house when talking to lenders.