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Results (10,000+)
Hannah Potter When to hire a CPA?
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.
Yong Jin Lee ?: Tax Deduction on people who are on W2 and do the rental property Investing
18 April 2024 | 3 replies
Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.
Derek Morrison What Would you Do?
19 April 2024 | 5 replies
Me personally, I would save up a little bit more to at least 30K.
Rick Via Phil Grove Real Estate Guru
17 April 2024 | 34 replies
But even going through this program will not guarantee you much, as I have known MANY people paying for this program and not really doing ANY real estate deals their first year or more, and latter, they just struggle to get deals.
Lane Mcdonald Necessary to have someone else do the accounting?
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.
Michael Alexander The Offer Sheet
19 April 2024 | 10 replies
One person's unique could be my ordinary, and vice versa. 
Cody Cavenaugh Investment Property Loan
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.
Collin Hays Lawsuit Part II: Negligence versus gross negligence
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. 
Jason Turgeon Real Estate Software Roundup (long)
20 April 2024 | 33 replies
Personally, I am fine keeping my deal analyzer separate from the management of the properties I already own, but I suppose there is some value to one-stop-shopping.* Platforms that try to be all things to all people: This category is mostly Stessa and Baselane, both of which offer landlord accounting, self-management tools, as well as high interest cash management accounts. 
Melanie Hernandez Who has a successful Airbnb rental abritage
20 April 2024 | 19 replies
@Jake Mercer would be a good person to reach out to and so would be @Fakaradin Floyd.