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2 May 2024 | 18 replies
For background checks, TurboTenant and MyRental offer robust screening tools.
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5 May 2024 | 5 replies
Your accountant may have some recommndations.
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4 May 2024 | 3 replies
This will be your main reference for your loan numbers.To track it in an accounting software, any software will work.
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6 May 2024 | 10 replies
Check out zen business.
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4 May 2024 | 6 replies
Or Cash-out refi, but have that money just sit in my bank account until I return to the states?
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5 May 2024 | 1 reply
We are currently using Excel for the most part for tracking the rentals, and using a third party account servicing company for tracking most of the seller financed loans (Weststar).
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6 May 2024 | 12 replies
Reason for the LLC is I have 180k of equity in this home, additional 150k in retirement savings and another 60-80k in cash in my bank account and I want to make sure im protected if I rent it out and the renters sue me (im told that is a thing) - the nw home would become my new homestead2) Put a heloc on the home (im told I should be able to get about 100k on top of about 60-80k cash I have), keep it as my primary and use the money as a downpayment for flips and either payoff upon completion or put a tenant in and refinance out3) Refinance out 90-100k from my current home, mortgage payment would go up $300 per month ($3600 a year) and just use that money for flips/buy and holds or even just stick in the S&P at an average of 7-8% return so I am making 3-4% more on my money then it being in the houseI am super new to all of this, have been saving my pennies up for awhile and need to get going.
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5 May 2024 | 2 replies
Cost seg studies have many different price points, depending on the complexity of the property but I would budget a few thousand dollars for a property the size.Regarding material participation, you should check with your CPA or tax advisor but generally speaking yes that would be enough time.
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5 May 2024 | 7 replies
To get a good rental income, be sure to check who you rent to very well, write a clear rental contract, take a security deposit, make a smooth way to get rent, keep the house in good shape, think about getting landlord insurance, keep talking to your renters, and follow local rules strictly.
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4 May 2024 | 5 replies
That would be around $90,000 sitting in a savings account!