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17 April 2024 | 5 replies
@Rory Sweeney I have a bookkeeping client that just on-boarded using buildium.
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18 April 2024 | 16 replies
If the step looked good on a cursory inspection and was reported as such, gross might not work.Of course if there are obviously rotten deck boards, steps and railings, then any kind of injury could be classified as gross negligence.
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20 April 2024 | 100 replies
Some sellers haven't filled tax's since Gerald Ford was president, other do it via receipts in a shoe box, some just make up numbers, some have an accountant, it's literally all over the board as is every aspect of small MFH investments, the only standard is there is no standard.
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17 April 2024 | 10 replies
A common issue in the smokies log cabins is no caulking at the outside base of the tub/shower and along the bathroom base boards.
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18 April 2024 | 12 replies
Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...
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16 April 2024 | 0 replies
Homeowners can rent their house to individuals looking for vacation opportunities or they can rent their house to a business owner who intends to use it for business purposes.Shifting Income from Your BusinessIf you are a business owner and do not use your home as your primary place of business, employing the Augusta Rule can be an effective strategy for moving income away from your business and shifting it to personal income, where there would be no tax consequence.For example, as a business owner, you host a monthly meeting with your Board of Directors.
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17 April 2024 | 34 replies
I just wouldn't pay a guru.Read the forums here, listen to the podcasts, read the Bigger Pockets books, the worksheets, the willingness of people on this board to weigh in on potential deals.That in itself is honestly enough, you will get all of the information (and likely better info) at a fraction of the cost.Find a good real estate agent that specializes in working with investors and tell them you are looking to get into real estate investing and see if they can help you get started.Let me ask this question, what do you hope to get from a guru?
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16 April 2024 | 16 replies
I have not seen an online tool that is accurate across the board.
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15 April 2024 | 26 replies
A close friend is on NV AG's legal advisory panel gave me the backstory on the State ruling.
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16 April 2024 | 21 replies
@Priscilla Z.You did the right moves by having your Affidavit and Notice of Interest in Real Property recording on the deed and if there was a problem, the buyer's realtor would have told you, but you will have uneducated people say what you did was not up above board or broker a deal which is not true you had a security interested in the property, and you have a right to your fee to release your interest.