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22 January 2018 | 2 replies
I looked the house up online and the fire happened about 5 months ago.
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20 November 2017 | 6 replies
There is only one tax ID number for the Series LLC so the tax reporting if you are the sole member would be as a disregarded entity (pass through) and you would keep separate accounting records in your quickbooks to "tag" the income and expenses of each individual series (just like you would for separate LLC's). $1200 is expensive when you consider the alternative that I am suggesting is infinitely expandable at no additional costs for the rest of your life.
2 December 2017 | 11 replies
Are all docs and invoices available online?
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21 November 2017 | 9 replies
In return perhaps I can be of some assistance with online marketing and video production.
20 November 2017 | 4 replies
You're correct in saying that it is misleading to say "there are no deals on the MLS" because a deal has a very different meaning to each individual.
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22 November 2017 | 12 replies
Current rents: you can glean this information through online sources as well as old-school searching (walk-ins, calling the buildings)Talk to local brokers to get the inside scoopMarket analysisCheck to see if building is in a flood plainYou can ask for, but these items are usually provided after signing a contract: Leases for lease auditing against bank statements, tax returns and leases (usually not provided before a contract has been signed).Tenant payment historyViolations, delinquenciesLease addendum and/or other agreementsTax ReturnsBank StatementsUtility billsCan RUBS be implemented (some municipalities may not allow it)Service contractsReserve fundsEnvironmental assessmentEmployee recordsStructural issues including foundationEmployee historyOther value-add features that can be added include:Trash valetCar portsStorageDog parksTo be honest, a similar level of due diligence is required across multifamily and manufactured housing (mobile home parks).Best of luck!
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22 November 2017 | 6 replies
.- Any expense on line 18 "depreciation" can be "added back" to income no questions asked (your new roof being depreciated over X years being a good example), meaning that it will have zero impact on your DTI.- Any expense on line 14 "repairs" can only be added back with a bunch of supporting documentation matching exactly & based on a human underwriter's judgement call on the "one time" nature of it (and how that underwriter's mood is on that given day) on a one-off basis.
22 November 2017 | 17 replies
Smaller banks, credit unions, and hard money lenders may have an individual or department that you could contact regarding the REO asset.
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20 November 2017 | 5 replies
@Stephen Rossi and welcome to BP, it has everything you need from free online educational videos to connecting to other investors, you can't go wrong on this site!
21 November 2017 | 11 replies
For SEP and qualified plans, net earnings from selfemployment is your gross income from your trade or business (provided your personal services are a material income producing factor) minus allowable business deductions To learn more about self-employment income rules, see the following. https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center