Troy F.
Seeking debt reduction advice
10 September 2024 | 7 replies
My first question is do you have appropriate reserves for these properties?
Andrew C.
what do you use to track FixedAssets for depreciation/amortization?
9 September 2024 | 12 replies
., we track all the data per each fixed asset in Google Sheets and it's a part of our monthly/yearly processes to input the appropriate adjusting journal entries so the depreciation and amortization are reflected on the financial reports on a monthly basis for each fixed asset.We have a depreciation worksheet, an amortization worksheet, and another worksheet that details all other aspects of each fixed asset (placed in service date, type of property, partners, etc etc) per client.It's nothing fancy but it works for us.
Peter McCauley
House Hacking a Single Family within Year 1 of Mortgage.
9 September 2024 | 9 replies
As long as you intend to live in the property as your primary residence, then a primary residence mortgage is appropriate.
Cosette Trantow
In desperate need of help
12 September 2024 | 27 replies
A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.
Allen Higbee
Sharks in the water in the my new city.
7 September 2024 | 2 replies
hello, I’m living in Augusta, Georgia, and there are many sharks in the water when I go to buy something I have to be very very very very calculated and very ready looking forward and how the money is gonna come in and how to market appropriately. if anybody has any advice on how to work along sharks and red oceans, please let me know.
James McGovern
Has anyone figured out a cheaper alternative to Cash for Keys
9 September 2024 | 23 replies
Issue appropriate notice immediately whenever the tenant breaks any of the terms they agreed to in the lease, which starts the process and shortens the timeline if you need to take the next steps towards eviction.
William Harvey
Accounting for house flippers
10 September 2024 | 29 replies
We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.
Tiffany McKinney
SDIRA for private lending
7 September 2024 | 9 replies
Jeff agreed that is not an appropriate loan for a SIDRA or private individual.. also in 22 years the collateral could be toasted..
Christopher S.
Unlocking Chicago's Community Development Grant Program: A Streamlined Financing Path
4 September 2024 | 4 replies
(Note: These are non-negotiable requirements) Other Incentive ProgramsSmall Business Improvement Fund: Best thought of as a storefront/small business rehabilitation program, this small grant program ($150,000 for commercial properties and $250,000 for industrial properties) is targeted for smaller renovation projects and can cover anywhere from 30-90% of the cost of remodeling a storefront facade, roof replacement, major systems replacements (HVAC, plumbing, electrical, etc.) or an individual interior space build-out within a larger building to get it tenant ready.
Anthony Vaudo
When to ask for P&L, tenant ledgers, etc.
5 September 2024 | 2 replies
Hello,I am looking at a mixed use property on Long Island (first floor retail plus 4 residential above) and would like to know when the most appropriate time is to ask for things like audited financial statements, tenant ledgers and/or anything I else I should be asking for?