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10 July 2024 | 11 replies
@Patricia Andriolo-Bull Thank you so much for that clarity.
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8 July 2024 | 2 replies
This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.
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5 July 2024 | 5 replies
Would love your thoughts on how I can best get clarity on this before making an offer or at least before closing.
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4 July 2024 | 9 replies
Time will provide more clarity.
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3 July 2024 | 21 replies
We are going to check it out this week on a little weekend getaway so hopefully that will give us more clarity too.
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1 July 2024 | 7 replies
I hope that adds clarity on the value Rent To Retirement provides to our investors.I see you are very active on BP forums daily.
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1 July 2024 | 27 replies
And best part, you get full clarity of exactly what there take is, good luck finding that with a "wholesaler".
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26 June 2024 | 4 replies
Explain your worries about potential damage to the new porch and noise disturbance, especially if it's causing vibrations that could affect the structure or annoy neighbors.Consider Amendments: If your lease agreement doesn't currently address items like punching bags specifically, consider adding an amendment that outlines rules for using outdoor spaces to prevent future misunderstandings.Document Agreements: Whatever agreement you come to with your tenants, document it in writing to ensure clarity and as a reference in case issues arise later.If you need any further assistance or would like to discuss please feel free to DM me!
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26 June 2024 | 9 replies
Tough question to answer without some more clarity.