Keith Hebert
need pro advice on whether to hire an in-house bookkeeper
15 September 2018 | 10 replies
My total bill last month was $2800 which put's me on track thus far for over 33k per year not including tax returns.I should disclose that I have another business that keeps me traveling pretty much half the year.Our Real Estate business operation looks like this:Property manager handles tenants and collects rents, he deposits all rents into our accounts and coordinates the rent roll with bookkeeping, they cut him a check for his gross collected rent management fee, bank statements are automatically sent to CPA's office for them to reconcile against business credit card statements, they also handle 95% of day to day financial operations from there to include paying contractors, setting up utilities, paying company bills ,bank deposits etc. for 4 and now 5 entities with the short term rental llc.We have a initial goal of 100 doors so I it's pretty easy to see this cost jumping significanly in the not so distant future.
Chris Jensen
Buying Appliances on Facebook Marketplace: Gold Mine or Money Pit
13 September 2018 | 3 replies
This is also where I ask them to agree to a certain amount of time to allow a return should product fail.
Kent Hall
Borrowing against a Thrift Savings Plan
17 February 2019 | 4 replies
The money is withdrawn from the TSP and deposited right in your bank account.
Colin Courtney
HELOC process advice
24 October 2019 | 8 replies
@Colin Courtney I went with Community Trust Bank, pretty sure they also offer services in TN.
Brian Ellis
Question For all you Refinance PROS
29 September 2018 | 7 replies
Some banks let you refi any time.
Miyako Boyer
First Rental property
16 September 2018 | 5 replies
A good amount is one that you are comfortable with putting down on a property, and more you are skin in the game you have better it looks when you approach investors, or banks.
Michael O.
Long Island NY - what do you look for in a buy and hold property?
21 September 2018 | 9 replies
I wonder if people are looking at the math or simply buying anything they can get their hands on and banking entirely on price appreciation.
Mal K.
Cracked water meter on a new rental
17 September 2018 | 6 replies
Recently, I purchased a property owned by the bank.
Joe DeLuca
Septic Install - Deductions/depreciation
13 September 2018 | 6 replies
Not wanting to bear the burden myself, we had a conversation with the seller (who did not want to replace the system), and ended up getting it inspected by a 3rd party inspector to which it failed.
Ike Stephens
Question on Being My Own HML
13 September 2018 | 2 replies
I'd repay the loan I took from my LLC and then move on to the next property.The beauty of this is it won't be a hit on my credit so my DTI won't be impacted at all and I can give myself a better interest rate than a HML would.Would a bank or lender have an issue with the source of funds used to acquire the property when I go to refinance?