Brice Alef-Torrisi
Managing finances between multiple properties
14 January 2025 | 7 replies
@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.
Noyessie Hubert
Tenant not paid rent, step for eviction
3 February 2025 | 9 replies
Please remember to keep copies for your records.
Anderson S.
Breaking Through Financing Hurdles with Expert Mortgage Brokers
22 January 2025 | 0 replies
Here’s how to find a broker you can trust:Ask for Referrals: Reach out to fellow investors or real estate agents for recommendations.Check Credentials: Look for brokers who are licensed and members of professional organizations, such as the National Association of Mortgage Brokers (NAMB).Review Their Track Record: Ask about their experience with real estate investment loans and request client testimonials.Interview Multiple Brokers: Prepare questions about their lender network, fees, and typical loan turnaround times.Evaluate Their Communication: Choose someone who listens to your needs and provides clear, honest advice.4.
Anderson S.
Stay Ahead of the Curve: Navigating Rental Market Regulations
22 January 2025 | 0 replies
Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.
Aaron Fischer
Transition to Inspira Financial Trust from Quest Trust Company
21 January 2025 | 3 replies
It’s also a good idea to assess their track record in handling alternative investments and supporting clients through changes.I’d be interested to hear how Inspira addresses these concerns going forward.
Ryan Vienneau
Buildium users - how do you handle credit card tracking???
14 January 2025 | 8 replies
Buildim has a general ledger so you can record credit card transactions the same as in any other bookkeeping software 1- add to chart of accounts a current liability called for example capital one credit card2- when you want to record a credit card transaction go to general ledger create a journal entry, for example if you swiped your card for a maintenance expense in the amount of 1,000 youshould debit maintenance 1,000 and credit your liability account called capital one credit card for 1,000so your liability account balnce is always the same amount as your credit card balance 3- if you pay intrest on your credit card add to charts of accounts an expense account called capital one intrest fees and when you got charged intrest create a journal entry debiting capital one intrest expense account and crediting your liability account 4- to record a payment to your credit card you can record a check from your bank account payable to capital one you should add them as a vendor or you can do a journal entry It simple for anyone with a little bookeeping knowledge and btw thats how its also done in quickbooks or anywhere else And thats the correct way doing it although there are a few other workaround ways for exemple creating a contra asset or as paying a vendor So i dont know why you blame buildium it would be the same with any other software
Leslie LaBranche
Jerome Maldonado real estate developer training
5 February 2025 | 48 replies
I have been able to take my real estate portfolio to a level in which i really didn't think possible and educate myself on so many things not only in real estate but in creating wealth throughout the power of networking with others that have experience and proven track records in other types of businesses.
Damien Davis
Build to Rent
4 February 2025 | 24 replies
this is what we build and we do it with newbies but make sure you partner with a builder who has experience and a track record.
Leah Miller
Bank Won't Close Due to FEMA Disaster Designation
29 January 2025 | 24 replies
Still need about 3-4 days for CDs, balancing, docs, funding and recording.
James Jones
New Investor Scaling Through Care Homes and Assisted Living
20 January 2025 | 10 replies
My wife continued to be the administrator of record with the state as we added homes to our portfolio and she would assign the house manager as the administrator designee for the home.