
11 October 2024 | 8 replies
I found the new job the prospect was hired for (Provided me with a job letter stating the rate and date started as Sept 30) at the end of last month, shows that the LLC the prospect works for has been administratively dissolved a few months back.

16 October 2024 | 7 replies
It seems you are the only person who understood the question wanting to know what a seller makes (not even sure how or why you think that).As a typical part of the DD process it is not uncommon to ask for property/entity tax returns.

18 October 2024 | 15 replies
Rent collected way under fees paid lease, extra utility charges to me, management fees, taxes, insurance, do not even come close.

17 October 2024 | 12 replies
I feel a bit stuck in this scenario, and I could use some advice.I'm raising some money from private investors and wanted to run some options by more experienced posters, because I'm a bit unclear as to what the best way is to structure my deals with private investors, or if there are better options that I'm not considering.Here are some rough numbers to capture a deal that is on my radar:Loan amount from investor: $110kYearly Interest Paid to Investor: 7%Monthly Rent from Property: $1300Monthly Interest-Only Payment to Investor: $642Monthly Property Taxes: $71Monthly Insurance Payment: $71Property Management fees: $104Net Cashflow: $412Now, this is not a bad outcome, and I am fine with it, but I am wondering what someone else might do differently if you were in my position - Should I charge an upfront fee to my investor (maybe $5k or so for this deal and also keep the cashflow as my monthly management fee), or would you instead use the $110k from the investor to BRRRR a bunch of deals, or would you try to just use the capital for one deal at a time?

16 October 2024 | 5 replies
Are you using Buildium for your accounting records and for tax purposes?

16 October 2024 | 4 replies
As a tax professional and fellow investor, it’s good to have a great time around you

16 October 2024 | 2 replies
The no state income tax in Nevada appeals to me vs. high state income tax in California for retirement or semi-retirement.

16 October 2024 | 1 reply
What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

16 October 2024 | 9 replies
Seller really shouldnt be paying any fees to title company unless they did their conveyancing (ordering U&O, tax and sewer certs etc.).

17 October 2024 | 4 replies
Real estate taxes are higher in this example.