Kelvin He
Will putting my properties in an LLC lower my DTI ratio?
22 May 2024 | 5 replies
To keep the home loan people from getting confused, you will want to NOT report the rental income/expenses on your personal tax returns Schedule E, instead have the LLC do an S-Corp election, and report the income/expenses there (after confirming the truthiness of all this with your tax professional, of course).
Kyle Brown
What to look for in a property management company
22 May 2024 | 5 replies
A few important things I would be looking for:1) the experience and credentials of the broker who supervises the company as well as the lead property manager2) the services they offer and how they line up with your needs and expectations3) the use of technology to make their job and yours easier 4) if they have a landlord-tenant attorney on retainer to help guide them on legal issues (not to mention the creation of lease agreement, landlord forms and notices, etc.)5) their process and policy for a) listing, b) application, c) tenant selection, d) routine inspections, e) maintenance services, f) property and tenancy update reports to you, g) lease enforcement policy, and f) move-out process.6) property owner reviews (you can't always rely on Google reviews, because they may not reflect actual quality of the company, but still) 7) beneficial programs for both owner and tenant 8) a property management agreement that would indicate they know what they're doing and have the experience to know what matters in a PMA.
Jonathan Baptiste
How to distribute utility bill in a single family home? (House hacking)
23 May 2024 | 11 replies
However, currently here in CA, PG&E is getting extremely expensive, that is why do not include electric/gas in their rent.
James Iantosca
What would you do in this situation
21 May 2024 | 0 replies
asking price $2 000 000 seller financing has been offered here is the I/E sheet
Seth James
Finding and keeping a good CPA/tax preparer
21 May 2024 | 1 reply
Preferably contact them by e-mail as we are not allow to self promote.
Skyler Lehman
Property management Pricing
22 May 2024 | 19 replies
As a PM, you know there's other things which are involved with running a business (insurance, E & O, supplies, rent, utilities, taxes, gov't fees, etc.)
Alex Kenny
Future Planning Advice
21 May 2024 | 8 replies
What will be the cost of THAT money compared with the cost of a refinance of your current home at today's interest rates - taking into account that you will be able to write off the mortgage interest for a rental on your Schedule E once you turn it into a rental?
Sunny Karen
Planning to start investing in Detroit - any one use Upside investments?
22 May 2024 | 48 replies
What about Detroit's little brother called "Toledo".S#@%, you can get A class for low $100,000 - $120,000Solid B class for $80,000 - $100,000C class for $60,000D class for $0 (Yep, the seller will give it away almost lol)And E class for -$15,000 due to back taxes and vandalism hehe Shout out to lil Detroit.
Molly Jones
How can property taxes go up by 164%?
20 May 2024 | 7 replies
I am very new to this, so I was floored when I found a property that had a tax increase of 165% in one year. https://www.zillow.com/homes/3800-36th-St-E,-Minneapolis,-MN...Is this normal?
David Chwaszczewski
Setting up a eQRP vs. SDIRA
21 May 2024 | 138 replies
An IRA account is established with a specialty self-directed custodian (think E*trade with different processing paperwork to get beyond stocks) and then that IRA is invested into a specially created LLC.