
31 August 2024 | 5 replies
Lease Management - Avail.co, Apartments.com, Buildium, TenantCloud, - many others - they can List For Rent, Schedule Showings, Provide Applications, Screen Tenants, Setup Leases, Setup and Manage Rent Payment, and other things (keep track of maintenance, keep track of expenses and make reports for accountants etc) Tenants like it because its online and makes it clear what they need to do - This also helps answer Drews question to you. - Showing a property - I have less to say on this one, looking for ideas myself.

30 August 2024 | 0 replies
For business owners, having a separate legal entity, such as a corporation or limited liability company, provides the unique ability to create a credit identity with business credit reporting agencies, also known as a business credit profile.Reality check: > Funding your business with your home equity or personal savings/guarantee is a HUGE risk > ~45% of Small Businesses applied for a Business Loan in 2023 > Less than 2% of SBA Loans are actually funded/approved > 29% of Small Businesses FAIL because thee run out of Capital > Your company’s name on a credit card is NOT corporate credit (if you used your FICO score to get it) > Business (EIN) credit will open new ways to finance your growthIf you keep doing what you've always done, you'll keep getting what you always got!

31 August 2024 | 12 replies
From an income tax perspective, the LLC provides you with absolutely no benefit.Even from a "anonymity" perspective - if that is a Single Member LLC, the K-1 from those syndicates is still required by the IRS to be issued directly to the beneficial owner - you.If you don't make it a single member LLC, say your spouse is also a member, now you have a partnership tax filing - if it holds a number of LLC interests, it is now a partnership filing that is a pain to file to roll all of those activities in and report it on to your personal returns.In short...most likely it is best to keep it simple.

1 September 2024 | 79 replies
MLS, direct mail, through a wholesaler, etc.The property can be located in PA or NJ, they do not care.We have to send them a detailed comp reportWe have to have our GC's come out for bids (on our dollar)We have to have our inspector come out (on our dollar)We have to get the property under contract with a 10 day inspection period before we can show it to them or have their inspector come outThe contract has to be assignable$50,000 is the profit they ask us to shoot for6-8 week rehab time, no structural issuesOnce we find a property and get it under contract, we must immediately pay $795 for their inspector to come out, send them our comp report and our GC estimates.

31 August 2024 | 16 replies
As for your question, it just depends on how knowledgeable you are to accurately report your income and expenses and to verify what TurboTax is spitting out.

29 August 2024 | 7 replies
. - Some credit bureaus and services (like Experian RentBureau or Esusu Rent) offer alternative credit reports that include rent payment history, utility payments, and other recurring bills.

30 August 2024 | 9 replies
You would need to check the property disclosure report.

30 August 2024 | 25 replies
I say booking income because one property I was running reports on yesterday had 3 times the number of bookings from Airbnb but my direct booking income was 9% higher than Airbnb.

29 August 2024 | 23 replies
I am interested from hearing from everyone that has a single-member LLC (SMLLC) that is a disregarded entity is generally reported on the owner’s Form 1040, Airbnb, flipping, wholesaling, to complex 1065 filers under subchapter K. 2.Accounting Costs: How much are you paying for ongoing accounting services?

25 August 2024 | 8 replies
Just wondering what are some of you total no go's after you receive the inspection report back on a turn key property you have an accepted offer for?