All Forum Posts by: Mark B.

Okay thanks! I'll look into the S corp more then

Good morning all! I would like to preface this with - I have been looking up the answer for this throughout Biggerpockets and other forums for a few hours and have not found what I'm looking for.  If anyone does know of a thread started for this, please just link that and I can run through it!

I just purchased my first property last week (4-plex) in my own name using FHA. I'm looking to set up the property management company to run this property as well as future purchases (which will most likely be purchased through LLC's). My family already has an S-corp set up with the ownership being my brother, parents and me. However I was wondering if it makes more sense to create my own property management LLC, or use that S-corp and restructure it.

I am sitting down with an accountant in the next day or two, but I'd like to go in with ideas.

Thank you!

Good to know! I could see that being a good use too.  I could set up a separate folder for things like that

Okay thanks. I think I'll use it mainly for non personal and transfers, then save it at home.

Thank you!  

I wish i could understand the links you just shared but I'm not quite sure what they mean. I think they are saying I'm safer with my files encrypted with boxcryptor because Dropbox itself isnt too safe?

Good morning! I'm getting starting in REI and am currently working on my first deal. I'm getting a lot of files sent to me and have been managing them on my computer in an encrypted folder. I use dropbox for other files already and feel comfortable using it, however I'm worried about saving financial files in it.
Do people use dropbox without any external encryption to save things such as tenant leases or more private files? I just set up boxcryptor but I'm not sure if I'm going overboard and wasting time.

Any advice would be greatly appreciated at this time! 

Not sure if you mean for personal or business and what features you need, but I use Gnucash. I believe its open source and its been working great for my personal needs.  

I disagree with them.  Granted, I'm just starting now... But I've talked to many investors who have been working in real estate for a long time and they say buy and hold is perfectly acceptable to get started.
Not that bird dogging/wholesaling is bad, but buy and hold is just as good.  I'm looking to get started with house hacking through buy and hold

So anyone who managed to buy units in that area back in the 80's is probably very happy right about now?

Welcome!  I would definitely search around the forum with regards to college housing.  I know a lot of people love it, but a lot also dislike it.  College students can definitely be rough on the properties.

There was a thread a few weeks ago about renting by the room.  I forget what exactly the problem was but people were bringing up issues they've had with roommates fighting and not getting along (which isn't your problem so much.. but still is annoying).

But good luck! and welcome to BP!