All Forum Posts by: Yi Chu

When you open a business checking account, you have to transfer a certain amount of money to the business account to avoid monthly fee. Let's say $500. This comes from your personal account, not from business operations. How do you do the accounting (in the financial statement and cash flow) for this type of fund from tax perspective? 

If there is an issue with roof and/or plumbing underground, whose responsibility is it to get them fixed? Home owner or HOA?

Before you put in an offer, what is the best way to make accurate rehab cost estimate? Ask three different general contractors to look at the house and give you a bid? That seems to be lots of work for real estate agent and myself.

Thank you all for the information, which is very helpful. Realized that I had a few hard inquiries recently, so I am afraid that my credit will take a dip if I open another credit card under my name. However, I have several personal credit cards. Can I use one of my credit cards only for my business (LLC) expenses? From now on, I will not use it for any personal purpose. Is that ok?

 Thanks. Do they check credit score when I apply for business credit card?

What is the requirement to get the approval of credit card for LLC? Can I use my personal credit card for LLC expenses? If I can not use my personal credit card, which bank do you recommend to apply for credit card?

Is it worth paying thousands of dollars to hire a mentor if you do single-family investing (buy-and-hold or house flipping)?