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6 February 2025 | 10 replies
@Nadir M. you would show 100% of whatever you collected on behalf of an owner.Of course, if tenant pays via credit card, you would NOT include the credit card fees, because you did not receive them.From the funds in your OPERATING account, you would pay any expenses on behalf of the owner, including your management fees - which you woul transfer to your PMC account.Owner will be paid from Operating account.Your vendors (office expenses, auto, etc) would be paid from your PMC account.Year end, you are require by IRS to send a 1099 with GROSS amount collected on behalf of owner.
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15 February 2025 | 8 replies
Gino if I was betting that is what I would bet on.. also many students will put these in CC then try to get the CC card company to reverse it.. sometimes the CC card company will do that.
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6 February 2025 | 16 replies
Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.
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16 February 2025 | 8 replies
I would love to get my hands on some fixer uppers in Baltimore, but it's not in the cards right now.
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21 January 2025 | 18 replies
So if your interest payment is $1000 then the servicer automatically ACH debits your account that plus the servicing fee (assuming you set up automatic payments as @Christian Ehlers suggests).
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11 February 2025 | 20 replies
I have a good credit score (791 based solely on credit cards) make almost $200,000 per year, and have very healthy investment and retirement accounts in America.
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16 February 2025 | 61 replies
I have them process credit card payments.
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2 February 2025 | 2 replies
As far as the business card is concerned, to me personally I think having both things on one business card is acceptable .
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16 January 2025 | 31 replies
I don't take credit cards but I believe stripe does.
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19 February 2025 | 4 replies
Together we make about 120k-ish and as were doing this, were actively paying down our credit card debt which together is about 20k at the moment, just fyi.I feel like this is a solid plan, but I'm not too big headed to admit that I don't know everything.