
22 February 2024 | 50 replies
I also negotiated 3 months pre paid rent.

19 February 2024 | 20 replies
@Sam Deb It can be done for sure, but I you have to factor in renovations taking longer than 3 months )especially in hot markets where good contractors are hard to find and might not be ready to start as soon as you are closed), a 6 month seasoning requirement for some lenders and 12 months for conventional, that you may or may not get ALL your cash out (doesn't make it a bad deal), the bandwidth to run multiple projects at the same time....

17 February 2024 | 27 replies
Then you make a recurring JE that debits Depreciation and credits Accumulated Depreciation each month for the prescribed amount.

17 February 2024 | 3 replies
Is there an easier way like direct debit from my bank account?
16 February 2024 | 4 replies
Remote can be...Marketing, Lease Signing, Lockouts (install coded smart doors), background checks & screening, Virtual Tours, Payments (online or ACH debits)Live In Person (local team)...Showing units, Posting Notices, Evictions, Dealing with Complaints (some need live interaction), Maintenance Calls, Property Condition Tours, Meeting Utility Companies, Meeting Contractors, verifying Contractors work, Live personal touch with residents (can improve tenant relations depending on property), Cleaning, Turns, Police CallsThrough the years, I've learned that there are places to save money and places to invest.

17 February 2024 | 40 replies
For example, there is a large national retail lender that advertises heavily (and I am sure will have a super bowl ad later today) who regularly will show unsophisticated buyers a great rate but then when the LE comes there are 2-3 points (which is just pre-paid interest) and high fees.

16 February 2024 | 6 replies
You can transfer the funds from your rental account to your personal account each month.Having a separate checking account for your rental side is a good idea, so that you can easily track any expenses specifically for that side of the house and directly deductible from your rental income.I setup a checking account for each property I own and use a debit card for the account for any specific purchases.

15 February 2024 | 17 replies
Problem is of course I'm not a US resident for immigration purposes, no SSN, and have no credit history in the USA...although I have a US bank account and debit card and I pay utility bills, etc. so maybe I do have some credit history?

16 February 2024 | 4 replies
.- Not saying it is an industry standard to charge 16% in closing costs but it once you add up all of your prepaids, other costs, and unfinanced fees its not completely unheard of.In the end, yes - always get a second opinion.
16 February 2024 | 15 replies
You want your accountant (tax preparer and/or bookkeeper) to understand how to classify your business items - fundamentally, there are just 5 categories of entries (asset, liability, equity, income, expense) and the transaction is booked as a debit or credit to the appropriate category.