Ben Hendricks
Sq. foot on tax records is HALF of actual-will I owe back taxes?
17 February 2020 | 0 replies
I know county-by-county may have different rules and a lawyer/CPA may need to weigh in, but I'd love any and all advice, thoughts, etc!
Vibhu Arya
PM insisting form 285 in AZ - CPA says not needed-Is it normal?
18 February 2020 | 5 replies
My CPA files state & federal taxes.
Mark Negley
The Book on Rental Property Investing by Brandon Turner summary
17 February 2020 | 2 replies
Or offer to help them fix up a unit for free.Real Estate Agent Invests themselves Responsive Hungry Tech-savvy One-on-one supportTo find: ReferralsAfter you find 3: Sit down with each of them Lender(s) Start looking now and start building a relationship with a few Contractors and handymenHow to find: Ask for referrals Check references The 6:00 a.m. home depot trick Ask store employees Make them compete Bookkeeper Keeps you organized and get your taxes ready CPA Looks at the bigger picture Saves you money in taxes Ideally, someone who specializes in real estate Lawyer Helps you set up leases and other forms and prepare you for the best legal entity for holding the properties Help with evicting a tenant Advise on any sketchy situationHow to find: Ask for referrals Insurance agent Ideally a broker Property manager Cost around 11% of monthly rent Interview a couple to get the detailsCh. 5Analyzing a Rental PropertySunday,September 8, 20199:20PMCalculating IncomeTo determine rent, look at: location Number of beds and baths Amenities like ac, parking, and appliances SizeHow to determinethese: Constantly scan the local paper (daily and weekly) Check craigslist often Check the competition and property management companies’ websites Read “for rent” signs - call the phone and act as a tenant to gather info Talk to other landlords - look for REIA When your unit goes vacant, bump up the rent Too many applicants = price too low Check the MLS (multiple listings service)Estimating Rental ExpensesEasy to calculate: Mortgage — mortgage calculator Interest rates - ask a lender Insurance — call the insurance salesman for quote Water — call the local water department Tenant can pay Sewer — call local water of sewer department Tenant can pay Garbage — call rubbish company Tenant can pay Gas — call the gas company Tenant can pay Electricity — call electric company Tenant can pay HOA fees — call HOA president Snow removal — ask local landlords or snow removal company Tenant can pay Lawn care — ‘’ Tenant can pay Property management — Ask local managers in the area Usually around 10% of monthly rent and 50% of a first months rent (just call it 11% Incase they charge a fee) Even if you don’t want the manager now, you will eventually.
Jerry Kim
Paying taxes when sell larger home & move to smaller one in CA?
17 February 2020 | 1 reply
So it's important to talk to your CPA to see what the actual impact would be.
Cory P.
Seattle Area CPA & Attorney?
17 February 2020 | 0 replies
Looking for referrals for an REI-knowledgeable CPA and real estate attorney in the greater Seattle area.
Michael King
Self management income reporting, how to?
18 February 2020 | 6 replies
Just tell my CPA and he'll take care of it?
Cory P.
Seattle area CPA and Attorney?
12 October 2020 | 3 replies
Looking for referrals for an REI-knowledgeable CPA and real estate attorney in the greater Seattle area.
Paul D.
Who to consult with regarding structuring ownership of rentals?
19 February 2020 | 4 replies
Should I just be looking for a CPA who is experienced with RE investing?
Jordan Sitzler
Looking for 1031 exchange company
18 February 2020 | 9 replies
Starker had performed well for me and deserved a reference.That said, I also realized that I used Starker because my CPA, who's a bit of an REI expert, recommended them.
Leslie Awasom
Find the deal the money will come!!! Myth or Reality??
21 February 2020 | 23 replies
These are usually accredited investors who have CPA's, attorneys and business people to bounce ideas and deals off of, plus their own experience.