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23 July 2024 | 8 replies
I used to use spreadsheets, then moved to when QB as my portfolio grew, now on Digb because I have multiple LLC and I don't want to have to buy QB subscription for each.
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22 July 2024 | 8 replies
After we live in it for at least a year, we will move out of the 4th unit and buy another multi-family and do the same thing.
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22 July 2024 | 5 replies
However, if I sell my business then do I no longer qualify to buy a property in the future?
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24 July 2024 | 11 replies
Quote from @Emma Campbell:If we have a Lowes business pro account, and in Month 1 we buy $1000 of materials for properties in 3 different LLCs, it sounds like manual effort is needed both to pay off the $1000 balance by making payments from each LLC's bank account for the amount it owes, and then a separate manual effort to record and assign the expense transactions in the bookkeeping software.
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23 July 2024 | 2 replies
This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Any lawsuits should be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced, some debate as to SMLLC).
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22 July 2024 | 1 reply
I have a current tenant who would like to buy a rental house he's leasing.
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23 July 2024 | 5 replies
@Tim JohnsonThere are essentially two ways (and a few variations) to purchase this deal, depending on how the owners are selling it:As a going concern: In this instance you are buying the business, so it is the business you evaluate: assets, liabilities, revenues (historical: 3 - 5 years), operating costs (historical: 3-5 years), future financial projections, goodwill, etc.
22 July 2024 | 7 replies
Hello, I think it’s really awesome that you’re just now beginning and you are already coming to the forums to learn so the first thing you need to do is to continue to stay on the forms and you also need to be reading all of the bigger pocketbook and start listening to their podcast to soak up as much knowledge as you can and as long as you do that, you will have all the knowledge you need to start and regarding your question I do not advise to buy a single-family house just to live in it without a rental property aspect so it’s OK if you want to live in the house as well but you will have to either get a multifamily property or you could also buy a single-family home and rent out the other rooms now see when you have a property that you use just for your family then you have to pay the mortgage every month which is building your equity, but that responsibility is solely on you whereas if it has some sort of rental property aspect, there will be other people helping you build that equity if you were to buy a property just for yourself that is something that will be taking money out of your pocket every month while as a rental property if you buy right will be putting money in your pocket every month the only exception to what I just said is if you buy a property for yourself or just for your family to live in, you could do a live-in flip to where as you’re living in the property you rehab it while your living there and if you buy right with enough knowledge, then when you turn around to sell the property, you will make profit
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22 July 2024 | 0 replies
Would anyone have any interest in a monthly breakfast/coffee meetup for private lenders and those buying/investing in notes?
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22 July 2024 | 7 replies
Thank you very much for that answer I will look into all of this further.In your opinion should I first line cash buyers for deals like that to understand if they use any finance at all or buy with cash?