Kincaid Ryken
Important Books To Read Before My First Deal
24 September 2020 | 88 replies
@Kincaid RykenRich dad poor dad: this book keeps me hungry Art of the deal isn’t a bad read.Brandon turner books are good: especially 7 years to 7 figure wealth.
Amber Kennon
Arkansas Real Estate Savvy Tax & Business Advisor
30 September 2020 | 3 replies
In fact, I have tried to find someone local for quite some time, and this is the reason that I am doing my own bookkeeping and planning thus far.
Xxavier Odom
Building a team to aquire small multi-family
29 September 2020 | 10 replies
Presumably your on site PMs function as your book keeper for each property or perhaps you have a paid book keeper?
Geoffrey Bissen
Best option out of Corporation/LLC/Inc. ?
4 October 2020 | 5 replies
@Geoffrey BissenIt is NOT always best practice to hold each property in an LLC.This is something you should discuss talking with an attorney/insurance agent with and formulate a gameplan based on your risk tolerance, risk exposure, net worth, etc.Holding a property for someone who has 25 properties would be overkill in compliance costs.1) Costs to form each LLC2) Annual Costs to keep each LLC active3) Bank fees for each LLC(which they may have if the bank requires a minimum balance)4) Bookkeeping fees if required for each separate LLC5) Registered agent fees for each LLCetc, etc etcMaybe the right exposure is 2, 3, 4 or 5 properties per LLC.Maybe you should get proper insurance and have one LLCor maybe you have one LLC that has a maximum value of $500,000 and have it insured up to that amount.
Benjamin Arritt
How do you aggregate personal finances w/ property investments?
30 September 2020 | 7 replies
I’m going to cross post this in a few places, and to be clear, I am NOT talking about software or a bookkeeper that specializes at any of the following:bookkeeping for taxesrent roll and property managementproperty purchase assessmentrenovation budgets and build managementtraditional stock market investmentsbusiness managementpersonal financesI am looking to take information from all of the above areas and create a holistic cash flow, net worth, short term and long-term automated projection of EVERYTHING all at once.
Benjamin Arritt
How do you aggregate personal finances w/ property investments?
30 September 2020 | 7 replies
I’m going to cross post this in a few places and to be clear, I am NOT talking about software or a bookkeeper that specializes at any of the following:bookkeeping for taxesrent roll and property managementproperty purchase assessmentrenovation budgets and build managementtraditional stock market investmentsbusiness managementpersonal financesI am looking to take information from all of the above areas and create a holistic cash flow, net worth, short term and long-term automated projection of EVERYTHING all at once.
Benjamin Arritt
How do you aggregate personal finances w/ property investments?
30 September 2020 | 4 replies
I’m going to cross post this in a few places and to be clear, I am NOT talking about software or a bookkeeper that specializes at any of the following:bookkeeping for taxesrent roll and property managementproperty purchase assessmentrenovation budgets and build managementtraditional stock market investmentsbusiness managementpersonal financesI am looking to take information from all of the above areas and create a holistic cash flow, net worth, short term and long-term automated projection of EVERYTHING all at once.
Sue Chen
Justifying pricey advisor fees
30 September 2020 | 3 replies
@Sue Chen I think you are misunderstanding what they do, they provide specific services such as entity creation, bookkeeping, estate planning it doesn't appear that they just give you general advice.
Alyxandria Welch
Tax season questions
17 October 2020 | 7 replies
If you want to understand more how I handle this bookkeeping, I’d be happy to chat with you.
Joe S.
If you was to hire an employee??
19 October 2020 | 13 replies
If you’re talking about having a bookkeeper etc.