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19 April 2024 | 15 replies
@Hannah Potter Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.
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19 April 2024 | 5 replies
Me personally, I would save up a little bit more to at least 30K.
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19 April 2024 | 8 replies
There are several popular programs out there, but personally I like Baselane because it's specifically for real estate investors so all your transactions will fit into the Schedule E you're going to need at tax time.
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16 April 2024 | 7 replies
-STR / MTR-Section 8-Single tenant triple net-Other commercial RE investments such as storage facilities or RV parksThere are so may options and I'm at the point where I realize I know what I don't know, so I am open to any and all ideas.
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19 April 2024 | 10 replies
One person's unique could be my ordinary, and vice versa.
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19 April 2024 | 14 replies
A Debt Service Coverage Ratio (DSCR) loan for investment properties is often considered better than a traditional mortgage for several reasons such as: it focuses on the property's income rather than your personal income.
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18 April 2024 | 16 replies
CGL coverage will cover property damage, personal injury and bodily injury but not many other issues that often arise, particularly during construction.
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20 April 2024 | 19 replies
@Jake Mercer would be a good person to reach out to and so would be @Fakaradin Floyd.
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19 April 2024 | 16 replies
Anyway, just something to think about.At the end of the day you are personally responsible for the success or failure of your business so you need to decide how you want to run it.
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18 April 2024 | 4 replies
Personally, I would look at the equity and would let that be my deciding factor.