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Results (10,000+)
Brice Alef-Torrisi Managing finances between multiple properties
14 January 2025 | 7 replies
@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.
Ryan Vienneau Buildium users - how do you handle credit card tracking???
14 January 2025 | 8 replies
Buildim has a general ledger so you can record credit card transactions the same as in any other bookkeeping software 1- add to chart of accounts a current liability called for example capital one credit card2- when you want to record a credit card transaction go to general ledger create a journal entry, for example if you swiped your card for a maintenance expense in the amount of 1,000  youshould debit maintenance 1,000 and credit your liability account called capital one credit card for 1,000so your liability account balnce is always the same amount as your credit card balance 3- if you pay intrest on your credit card add to charts of accounts an expense account called capital one intrest fees and when you got charged intrest create a journal entry debiting capital one intrest expense account and crediting your liability account 4- to record a payment to your credit card you can record a check from your bank account payable to capital one you should add them as a vendor or you can do a journal entry It simple for anyone with a little bookeeping knowledge and btw thats how its also done in quickbooks or anywhere else And thats the correct way doing it although there are a few other workaround ways for exemple creating a contra asset or as paying a vendor So i dont know why you blame buildium it would be the same with any other software 
Tyler Perroux What are strange LLC names that own property
23 January 2025 | 1 reply
I do a lot of searching through the MLS and county records, and come across these fairly often, but am curious as to who/what they are.
Alec Jacobs What bank account should I use for my rental property?
23 January 2025 | 1 reply
Keeping clean records from day one really helps when tax season rolls around.
Derek Farmer Fix and Flip plan
10 January 2025 | 18 replies
Long term goals in mind that I need a track record and capital for! 
Marc Shin What Can I do about sound in a duplex with thin walls?
23 January 2025 | 9 replies
It is usually used in conjunction with decoupling clips and the like for listening rooms, audio recording rooms and home theaters.
Don Konipol A Tax Lien Warning Story
21 January 2025 | 6 replies
Of course a visit to the county records office and -correct reading of the legal description would reveal that the tennis court lot was the one being sold.  
Elvon Bowman First time acquisition
16 January 2025 | 12 replies
My belief is that if you can find a good enough deal, you can make it work - even with limited track record.
Chris Magistrado Cybersecurity, Recruiting, or Real Estate?
14 January 2025 | 3 replies
Right now, you may be looking at it as scalable, but assembling a team without a track record is hard because some may end up being leeches.
Donald DiBuono Buying a Trust vs Sub To
23 January 2025 | 7 replies
As mentioned, we "openly and notoriously" record the deed for the world to see so there is no hiding things from the bank (which could be construed as fraud not to mention poses many other risks for creditor liens, etc.)