All Forum Posts by: Peter Forrest

@Frank Maratta QB is kinda the default that everyone uses. While everyone is recommending the desktop version, I use the online version to easily collaborate with my bookkeeping team in India. It is a lot more complicated and costs money compared to Stessa, but the alternative of missed deductions and potential IRS problems is a lot worse.

@Nicole Heasley yes, you can. I have a about half a. Dozen SFH on separate commercial loans.

@Cara Lonsdale thanks!

@Cara Lonsdale thanks for the detailed response. I am facing a similar dilemma. My personal non-W2 income always appears as zero or there abouts on my personal returns. In reality, i use the depreciation of properties held in an LLC (which files taxes separately), and invests everything else back in the business. Do banks typically consider looking into a this depreciation as my personal income?

thanks @Ben Guttman

 Do you mind sharing information about the MF event? Thanks!

Hi Martinis,

How did your conversion go?

Thanks, Peter

I have five investors doing a small deal to build and sell three properties in Maryland using an LLC registered in Delaware. Do you know a good lawyer who can help us put together an agreement among the investors? Its not a syndication in a traditional sense, but setting up compliant agreement among the five people.

thank you so much!

I have five investors doing a small deal to build and sell three properties in Maryland using an LLC registered in Delaware. Do you know a good lawyer who can help us put together an agreement among the investors? Its not a syndication in a traditional sense, but setting up compliant agreement among the five people.

thank you so much!

I got my first 4-unit building in Washington DC a couple of months ago.  I am trying to get rid of the tenants who are paying half the market rent, and put section 8 tenants in the building.  The current tenants are paying less than half of what section 8 pays. For example, I have tenants paying $630, but I can get $1500 from section 8.  What is the best way to either raise the rents on these tenants or evict them? The property is under rent control, because I have other properties (single families).  The property currently costs about $3000 to run, and in total I am getting $2000 from the current tenants. When I fill the vacant unit, the revenues will jump to about $3500.  I put in about 130K in equity into this building so I am currently upside down. Washington DC is obviously tenant-friendly, but we got some great people here on BP so I figured this is a good place to start.