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Jim Bibby has started 1 posts and replied 2 times.

Hi everyone one, I'm looking for some advice. I want to keep all my finances separate for tax purposes. I put this property into a trust. I was able to get a homestead on this property because a family member lives on one of the floors.

1. Should I open a new checking act for this property before renovating? should the checking act be in the Trust name or my personal name?

2. I'm adding a 3rd floor apartment. I'm currently looking for a contractor. any suggestions?

3. should all expenditures ie; electric, oil, taxes be in the trust name or my name?

Thank you for your import,

THE NEW GUY

1 Vote

Boston, Massachusetts

Hi Brian, I'm an investor from Brockton Massachusetts. I'm looking to connect with other investors as well.

2 Votes