Kyle Kulhanek
Retitling a property to an LLC - Chicago
23 January 2025 | 7 replies
If so, there are no transfer taxes due.
Rohit Raturi
Advice Needed: Buy Property under LLC or buy under personal and then move to LLC
30 January 2025 | 6 replies
Far more costly to transfer property at a later point than simply purchase in an LLC on day one.
Nadir M.
How Do You Handle Rent Collection & Payouts for Accurate Accounting?
5 February 2025 | 4 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.
Joseph Sakic
Thinking of changing my PM but am terrified that the process will be a nightmare
5 February 2025 | 11 replies
It is far cleaner to transfer a vacant unit than a leased one.
Chrissy Grimm
Recent experience with PayRange or ShinePay?
31 January 2025 | 5 replies
I'm still in the process of finding an alternative solution but I thought I'd leave this here as a warning for others looking to make a decision.For reference, I'll just post their email response to me here:As we review your inquiry, we would like to remind you of the following key points from our Terms of Use:In no instance shall ShinePay be liable for any of the following:"Lost revenue from service interruptions.Lost revenue stemming from delays, malfunctions of any product.unauthorized gains access to your account or due to shared passwords or if your password is hacked.Destruction to properly, places, or personal injury resulting from the installation, misinstalling, or misuse of any product.Lost revenue from entering the wrong account number for ACH or other bank transfer or money transfers or due to any delay in receiving funds.Damage to your structure, machines or car resulting from use or installation of our products.Any funds collected that are paid to a person that does not own the property.Any harm from defeating the lock and technology that controls the lock to a device.Failure to properly service any product or machine."
Marc Shin
What Can I do about sound in a duplex with thin walls?
29 January 2025 | 10 replies
If you can access the wall cavity, adding rock wool (mineral wool) insulation will make a big impact by reducing vibrations and sound transfer.
Martin Reinke
300 Avoca House
3 February 2025 | 0 replies
Purchased with all Cash, title transferred into my name in 6 days Lessons learned?
Will Greenlee
RentRedi Personal Experience - Do not recommend - Noticed BiggerPockets promotion
4 February 2025 | 3 replies
I unfortunately basically had to switch to desktop to use the software. 4) Tenants have to pay a $1 transfer fee to pay through RentRedi.
Anirudh Reddy
Who can claim interest paid on a seller finance property?
4 February 2025 | 17 replies
As far as bank is concerned, I am still the borrower, because we did this transfer behind the bank's back.
Ken M.
How To Buy Distressed Properties "Safely' Using SubTo and Wraps
29 January 2025 | 1 reply
Mortgage laws, title and Deed laws, wire transfer laws, landlord tenant laws.Realize the seller of a distressed property has rights.