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31 May 2024 | 9 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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2 June 2024 | 1 reply
It has not been well maintained over the last 19 years with a string of just bad renters and the person I had managing it just didn't do good quality repairs or work to it.
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30 May 2024 | 12 replies
I have not heard of a Personal or Business policy that covers loss of rent due to a tenant chosing not to pay.
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1 June 2024 | 3 replies
I would prefer to manage everything through the LLC's account for bookkeeping and tax purposes.Proposed Solution:Open a new joint personal account specifically for making mortgage payments.Transfer the monthly mortgage payment amount from the LLC's business checking account to the joint personal account.Document these transfers as "Owner's Draw" or "Owner's Distribution" in our accounting records.Use the joint personal account to make the mortgage payments.Questions:For the CPAs and accountants out there:What are the tax implications of this approach?
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1 June 2024 | 17 replies
Everyone is going to give you their own "personal" preference.
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1 June 2024 | 18 replies
It only says "some personal use" with no quantity specified.
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30 May 2024 | 93 replies
How did stocks and bonds perform vs?
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2 June 2024 | 2 replies
They will allow your mortgage payment and any personal debt payments (credit cards, cars, etc) to reach about 45% of your monthly income.Programs vary all over the place so it's best to ask a mortgage broker which programs you qualify for.They like two years on the job, rent paid on time, no liens or judgments, pay stubs, tax returns and so on.FHA has a 3.5% down program plus closing costs.
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1 June 2024 | 7 replies
I personally use US Bank [Big stable bank with Zelle capabilities], Relay [Checking and Savings 3%] and then Quickbooks [high interest rate 5%].
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1 June 2024 | 1 reply
Find a group or person that can give you both education and mentoring.