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Results (10,000+)
Bao Vu Question regarding Tax on a Flip
12 December 2024 | 10 replies
QuickBooks Setup:For flips, I’d use the following accounts:Flips in Progress (Inventory)FIP - Purchase PriceFIP - Buying/Closing CostsFIP - Rehab CostsFIP - Holding CostsFIP - Selling/Closing CostsReal Estate Cost of Goods Sold (COGS)COGS - Purchase PriceCOGS - Buying/Closing CostsCOGS - Rehab CostsCOGS - Holding CostsCOGS - Selling/Closing CostsAt year-end (e.g., Dec 31, 2023), move flip costs to inventory and back into COGS on Jan 1, 2024.
Sean Quinn Book/ Other Content Recommendations
11 December 2024 | 2 replies
It was written before the days of YouTube, so it's not full of the common nonsense where authors sell a course, send you to their website for downloads, or write a follow-up with additional "secrets" they forgot to put in the first book.Long-Distance Real Estate Investing by David Greene was another good one.
Keno Powers Tenant constantly late paying back rent
10 December 2024 | 5 replies
Consider yourself very lucky and continue to follow up with them.
Andy S. Tenant Move in and move out inspections
10 December 2024 | 6 replies
I followed up with an e-mail of the pictures post-tenancy and that was the end of that.
Alexandre Boustany Digitizing a Small Real Estate Business
12 December 2024 | 2 replies
So it would depend on following:- What are your top 10/core needs of your business workflow.- Do you want to manage the new system internally or have an outside vendor manage it for you for a small fee.- Would you be requiring custom changes often to your digital workflow?
Jason S. Flat Broke and No Funds...What to do???
11 December 2024 | 68 replies
"You follow-up & Split Wholesale Fees 50/50."  
John Underwood Why an LLC may not protect you from a Lawsuit
19 December 2024 | 50 replies
Further, a member of the LLC can take a draw from the LLC without it having to be regarded as and follow the for,Ali toes of a salary or dividend, so again can’t be used by a plaintiff’s attorney to pierce the veil. 
Angela A. Cash out after reverse 1031
10 December 2024 | 0 replies
Following is the scenario. 
Jorge Abreu Selling Properties with Transparency and Maximizing the Sales 📈
11 December 2024 | 1 reply
When staff members are well-informed, they understand the situation better and can assist in the transition process.Throughout my career, I have followed these principles of transparency when selling properties.
Birinder Singh Advice on barment / foreclosure process
10 December 2024 | 1 reply
Since this is my first go around - I'd really appreciate advice on the following:- any references on lawyers /firms to work with to go through the Barment and foreclosure process without breaking the bank.- Ball park ranges - what can I expect the cost of this process to be?