All Forum Posts by: Ryan Moore

Staying away from them and Disrupt Equity going forward.  I'm in 2 syndications and they are sinking ships

Always look forward to this

Ok, I could have sworn I heard numerous CPAs mention that when you have a big repair and capital expense, get things broken down so that some of the line items can be expensed.... but I guess it was referring to when a bill can be broken down to where all parts fall under the amount allowed to be expensed.  In my situation, even if labor and whatnot were line items, then yeah the heaters would still be above the amount, which I'm understanding keeps the whole thing capitalized.  Thanks for the input

Hi.  After I closed on my new 5-unit property this past december, I had to replace two heaters that were at their end of life and malfunctioning.  The total cost was $9,900.  I just realized that the HVAC company did not break down that cost into things like labor, etc.  If I'm understanding the terminology and process correctly, I should be getting them to itemize each part of the repair/replacement so that I do not have to capitalize the entire $9,900, correct?

I'm contemplating jumping into the travel hacking game.

Anyways... my credit stay up close to 800 all the time.  As long as I keep that high and my utilization low as I normally do, would any underwriter on a property have a problem with too many credit cards being opened at any given time?  I'm not talking about opening a bunch at a time, and not while a loan is in underwriting.  

I closed on a property in December.  Should I be reporting items like inspection costs, wire transfers that were made to send money to escrow/title on my property's P&L even though they were costs before I owned the property?

Looking forward to it, I think I missed the last 2 over the holidays.

@Gita Faust thanks, sent you a message

Hi, which one (QB desktop vs QB online) if I have multiple EINs (each rental under its own LLC) and each has their own balance sheet? Can that be done well w/ desktop? I just spoke with QB on the phone trying to sell me the online version and it gets costly for my 2 small mf properties.

Thank you both for the response.  Sounds like it's fairly straight forward to document this