All Forum Posts by: Tomasz Jurga

A question for those with experience house hacking a multi-family house:

What was the most financially-intelligent way to utilize your tenant's rent to apply it towards your own mortgage payments? I plan to own a duplex and live in one unit; the other unit has a tenant who is elderly and not very tech-savvy, thus he will be paying me monthly using a check. Taking the check, depositing it to my bank, then simply regularly paying the mortgage down seems like the most common sense thing to do, but doesn't seem to be the most financially responsible thing to do when tax season comes around.

Would having an LLC and depositing the check into a business account make more sense? Then working with my mortgage lender to take a portion of money from the LLC's business account plus a specific amount from my personal account? Do I even need an LLC to have a business account from a taxation stand-point? I've listened to the Bigger Pockets podcasts about having an LLC and the immediate answer I can think of is 'No'.

Thanks for any thoughts!

Thank you @Joshua B.! I have your business' contact info and will be reaching out, thank you for replying to my post!

Hello BG members from AA and surrounding areas! 

I'm new to the city and have been reading through previous posts/question on this forum. There are some really helpful tips from many of you! I'm not trying to rehash what was already asked about the market (seems difficult to flip), but I am wondering if there's a local real estate association/clubs? I found the Ann Arbor Real Estate Investors Club on Meetup, but not sure how popular that is among you here on BG?  

Also, I saw a previous post asking about a real estate attorney and CPA, would love to get some contact info! Do you work with any brokers? 

Thanks in advance!! Very excited to post my first question on the BG forum!