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23 October 2024 | 15 replies
Whichever way you go, do your own taxes or get a CPA, make sure you have a good bookkeeping system for each rental and I'd recommend getting a business checking account - when I had my rental income and expenses mixed in with my personal account, it took a long time to sort through which was personal and business (rentals) with pages of bank statements.
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20 October 2024 | 8 replies
A link to FilePlace is at the bottom of every page, so it is easy to find.If you have technical issues, send an email to [email protected] and someone will help you.
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21 October 2024 | 28 replies
Quote from @Douglas Skipworth: @Engelo Rumora, when are you going to come back and visit us in Memphis?!
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20 October 2024 | 4 replies
@Jason Frink, this page seems to cover it:https://www.omglawfirm.com/arkansas-probate-intestate-succes...Here is a pertinent snippet from that page:If you don’t have a Will, the default order of descent goes like this: (1) full blood and adopted children of the decedent, subject to any dower, curtesy, and homestead interest of a spouse; (2) if no full blood or adopted children, then everything to a spouse of greater than three years or half of everything plus dower, curtesy, and homestead to a spouse of less than three years and the other half of everything to other heirs (per this table); (3) to the decedent’s parents or surviving siblings; (4) to the decedent’s grandparents or surviving aunts, uncles, cousins, etc.; (5) to the decedent’s great-grandparents or surviving great aunts, great uncles, etc.; (6) if none of those intermediate descendents are alive the remaining half can go to the spouse of less than three years or to a predeceased spouse’s heirs; (7) finally, if none of these apply, all the property escheats to the county where the decedent died.A good way to visualize the order is to imagine the following scenario: Alfred dies without a Will.
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16 October 2024 | 7 replies
When the seller only has a hand written Income (rent) and Expenses, 1 page, 1 month, what is the best way to confirm all income/expenses?
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18 October 2024 | 8 replies
The size of your tax return, whether it’s 250 pages or more, doesn’t inherently increase your chances of an audit.
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18 October 2024 | 6 replies
Boom, you are now a real estate investor.Oh and definitely build a corporate web of at least 5 layers of shell companies before you even begin thinking about buying a property.
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19 October 2024 | 15 replies
I would say, when you’re purchasing properties in another country, it’s important to visit there several times and do your research to find out which types of properties have the best returns.
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21 October 2024 | 8 replies
I want to restore it to at least the condition it was in when I first visited about 18 years ago, and feel like it's honoring him to at least get it "up and running" before selling it.
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21 October 2024 | 21 replies
Hey Sean, not everyone does this, but actually visiting the area you are interested in investing can be really helpful.