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27 January 2025 | 8 replies
Are you going to keep the separate bank account, keep corporate minutes?
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15 January 2025 | 49 replies
I already have a Stessa account.
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7 February 2025 | 16 replies
Thus, they take extreme risks and look for corresponding discounts.Additionally, after the first position lender accounts for default interest, penalties, legal fees, foreclosure fees, accounting fees, and everything else, the equity in your combined <65% ARV loan can easily erode to zero.
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16 January 2025 | 9 replies
I'm currently exploring opportunities in real estate, particularly in accounting roles.
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22 January 2025 | 2 replies
Account holders can't take any write-offs personally for investments made in the 401k.
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7 February 2025 | 14 replies
Typically seasoning means that the funds have been in a bank account for a set amount of time (usually 60 days), so ANY lender should love that....I thought maybe you meant un-seasoned funds?
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1 February 2025 | 0 replies
Here are five dangerous provisions to watch for in an Operating Agreement:Dangerous Provisions to Watch:Authority to incur debt without investor approvalPower to make loans to other entities/projectsAbility to cross-collateralize with other propertiesPermission to use investor capital for other venturesCommingling of funds across different projectsWhy These Are Potential Ponzi Indicators:• New investor funds could be used to pay existing investors• Project-to-project lending can mask poor performance• Cross-collateralization puts your investment at risk for others' failures• Commingling enables masking of financial problems• Lack of project segregation enables fraudulent schemesProtective Measures to Look For:Strict single-purpose entity requirementsProject-specific bank accountsDebt limitations and investor approval requirementsProhibited related-party lendingClear fund segregation requirementsProfessional Best Practice:Request bank statements showing separate accounts for each project.
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30 January 2025 | 7 replies
Alternatively, you may want to consider switching to a platform that offers this level of transparency.Additionally, on both Airbnb and Vrbo, if you have access to the account, you can view the transaction history.
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15 January 2025 | 9 replies
this is where the gray area comes in with accounting.