Blake Dials
Multiple Bank Accounts
27 September 2024 | 13 replies
When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.
Samuel Hopkins
Virginia Wholesaling Questions
24 September 2024 | 22 replies
My title company has told me that it is impossible to do a simultaneous closing using only the end-buyers’ money to fund the transaction on a wholesale deal as they say it is considered a “dry closing” and is illegal in the state of Virginia.Someone from the title company also told me that there is a limit on the number of assignment deals that you can do before you are forced to get a real estate license or it is considered brokering without a license.
Adam Hoeker
Managing the Finances
27 September 2024 | 15 replies
You should only consider switching when your current software has a significant flaw or lacks features that force you to spend excessive time on workarounds.
David V.
IRS Form 8824 Review
25 September 2024 | 4 replies
I reviewed Form 8824 and after much research I generally feel comfortable completing the form as well as how to depreciate the carryover basis and additional (or excess) basis using either of the two allowable methods (general and simplified methods).
Diem N.
Dryer Vent Cleaning - who pays for it?
26 September 2024 | 11 replies
The tenant wants us to clean the dryer vent duct since her dryer is not drying well.
Rheis Cloutier
Financing through HELOC
26 September 2024 | 2 replies
I have seen a Heloc lower an investors scores due to excessive tradelines and due to the balance to credit limit percentage.
Vi Huang
Tenant Keeps Making Maintenance Requests
27 September 2024 | 11 replies
Jammed garbage disposals are a tenant responsibility and they should have paid the bill.Your property manager is going to suck you dry.
Aaron Sweat
ADA Units and Their Market Value
26 September 2024 | 17 replies
Currently, the CBC mandates a percentage of new dwelling units to be ADA compliant, but I wonder if these units are quickly filled or if there is excess in certain regions.
Michael Davis
Need someone to stamp plans ASAP
26 September 2024 | 10 replies
Getting a building permit is rarely a cut and dry process.
Nikhil Mascarenhas
CA out of state investors, what asset protection strategy do you use?
25 September 2024 | 7 replies
California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.