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24 February 2025 | 21 replies
I did not find them via Bigger Pockets but rather through another investor, who had them quote on project for them.
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1 February 2025 | 1 reply
Transaction volume is basically non-existent.
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15 January 2025 | 9 replies
The further you get into the deal the more skin in the game you end up having so it just makes sure you see the project through so you recoup the time and cash invested.
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5 February 2025 | 5 replies
So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000.
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24 February 2025 | 13 replies
•Managing accounts payable and receivable•Reconciling bank accounts•Generating basic financial reports (e.g., Profit & Loss statement, Balance Sheet)Credentials:No formal certification is required and may or may not have a high school diploma, but some bookkeepers pursue:•QuickBooks ProAdvisor Certification•Certified Bookkeeper (CB) from the American Institute of Professional Bookkeepers (AIPB)•Certified Public Bookkeeper (CPB)Caveats:Bookkeepers do not handle and probably should not handle tax planning, financial analysis, or compliance work.
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24 February 2025 | 16 replies
I realize this is a real estate focused group, and I have some basic questions.
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5 February 2025 | 29 replies
I'll give you the basics at REI.
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10 February 2025 | 5 replies
You might want to consider a bridge loan for this project.
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21 February 2025 | 6 replies
Here’s why selling your primary residence to your LLC and then renting it back isn’t a good idea from a tax perspective:Self-Dealing Doesn’t WorkFor tax purposes, a single-member LLC is considered the same as you, so paying rent to your own LLC is basically just paying yourself.
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21 February 2025 | 17 replies
I’ve done 4 cash out refis to buy 14 houses basically for free, since I didn’t have to come up with any out of pocket cash for my 20% down payments on the new houses.