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15 December 2024 | 25 replies
Here’s a concise response for the post:As a CPA who’s been doing accounting since 2013, I always recommend QuickBooks Online for real estate investors because I find it to be the most user-friendly.
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10 December 2024 | 100 replies
So, you'd charge the seller 0.6% and the buyers would be responsible for their agent's commission?
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17 December 2024 | 86 replies
The strategy that I recommend is going to differ from the responses that I see at the time I'm writing my response.1.
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5 December 2024 | 2 replies
When a child LLC (disregarded entity) is used to hold each property, and all of the tax reporting is done on the tax return of the parent entity, does each individual child LLC need to file the BOI Report, or only the parent LLC?
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10 December 2024 | 6 replies
The only way to answer that in general (whether house hacking in today's market is still a good option) or for a particular property, is to learn how to run the numbers and analyze a specific property to see whether it will be able to stand on its own as an investment when you move out someday.There are a lot of resources here on BP for doing that but I'd just say, make sure the assumptions you're putting into your spreadsheet or deal analyzer are realistic.Make sure the rents (especially for vacant units or pro-forma #s) are realistic by doing your own rent comps; make sure the mortgage rate is realistic by doing some research online and/or talking to some mortgage folks; make sure insurance #s are realistic by getting a couple of quotes for the # of units and zip code / area you're looking in; etc.I hope that helps, and good luck 😊 Thanks for the response and insight Anthony.
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10 December 2024 | 7 replies
@Tim JacobThank you so much for your response.
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10 December 2024 | 6 replies
Both tenants are responsible for the damage caused.
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4 December 2024 | 32 replies
I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal.
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5 December 2024 | 2 replies
Read: The millionaire real estate agent; Hyper Local Hyper Fast AgentWhat are some effective ways to network with individuals at all levels?