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7 August 2022 | 35 replies
If these "special conditions" are the case, then consider opening a LLC in the state in which the properties are located, but then plan on paying the $800 CA franchise fee (which it sounds like you are), along with extra bookkeeping fees, tax preparation fees, etc. and commercial financing probably under less desirable terms than on a conventional mortgage in your name or buying them all cash and holding them free and clear.
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17 February 2014 | 30 replies
My main purpose with naming the business was so that I could keep it separate from the Realtor business, mostly for book-keeping, accounting, check-book, etc.
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18 February 2014 | 7 replies
It may not include marketing an area, like a resort or answering the phone, bookkeeping or admin tasks, but dealing directly with any unit is an RE issue.In vacation rentals, such as in a condo development or recreational development where the owners employ managers can be exempt as they don't act as agents but employees under one operation.
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5 July 2014 | 10 replies
Hello BP,I was wonder if somebody use Mint.com as bookkeeping solution (for small portfolio of 1-10 properties), and if it does, what is your experience?
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3 March 2016 | 33 replies
Both the PM, and the bookkeeper (she pays the bills) for the PM failed to notice.
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10 February 2016 | 29 replies
Here are some areas to think about:RE Agent; Property Manager; Contractors; Handy-persons (different than contractors and these are key); bookkeepers; CPA; Attorney; Hard money/private lender.
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11 January 2015 | 12 replies
Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.
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15 January 2024 | 64 replies
You explained it perfectly, as you well know the bookkeeping out of Sacramento is "creative".
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19 October 2015 | 177 replies
I hope to get a good handle on earnings and expenses with the help of my bookkeeper and to position myself for making more purchases as soon as I am certain that my numbers will work!
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4 January 2022 | 4 replies
Also when you need to get help from your bookkeeper or CPA it will be easier to get that help because they can have that quick access.