Anthony Portugal
Purchasing first rental property under LLC with mortgage
15 March 2019 | 12 replies
Meaning both properties (Primary residence and investment) are investment vehicles to get you somewhere long term.
Jason Turo
How do you make purchases and manage receipts for your rentals?
27 August 2017 | 14 replies
i have started using an app called Everlance. i like it very much so far. it tracks mileage and expenses. it allows you to set up favorite locations and different vehicles. it has categories for personal, work, and medical. the expense tracker allows you take photos of the receipts so i don't have to have large stashes of paper for long periods of time. as for paying for things, i do have an llc and business checking/savings however there is very little money in there as we are just starting out. most of my expenses have been put on 2 personal credit cards or paid from my personal account. i knows it's a bad idea but currently have no other options.
Tracy S.
Starting out in Denver/Aurora CO - is my plan crazy?
5 September 2017 | 16 replies
My list of requirements includes concealed parking that can fit 5 vehicles and no HOA - I think I'll also introduce myself to the neighbors to get a feel for the overall personality of the neighborhood before buying.
Geoff Kraemer
Can I rent my 2nd home to myself for business purposes?
27 April 2020 | 3 replies
Examples include office space, machinery and equipment, vehicles, computers and peripherals, and real estate.Besides renting the assets personally, you may use a multiple entity arrangement such as partnerships, S corporations or limited-liability-companies to rent the assets to a corporation.
Lyle Levine
Trust vs. LLC
5 June 2023 | 4 replies
Placing the ownership of a property in a limited liability vehicle is a good backup option to insurance.
Account Closed
Landlording 101
25 June 2009 | 4 replies
Preferably they arrived in a clean, well-kept passenger car that is in a clean condition.Now who was driving the vehicle?
Mark Forest
Other deductions
3 March 2013 | 7 replies
The only problem is vehicle expense I use to travel to and from the various houses for fix up and renovation.
Jacob Forbis
What would you do? Please help!
7 May 2014 | 15 replies
Such as converting from a annual lease to a month to month, or to catch up with market rent rate for that neighborhood...but I wouldn't raise the rent because their chance of paying rent on time is now relatively lower than before the father lost their job.I would do whatever it is necessary to convey to them paying rent should be their #1 priority, before they pay for their leased vehicles, before they pay their cable TV bill, before going out to dinner...
Danny Diaz
REITs
23 February 2015 | 8 replies
@Danny Diaz In my experience, REITS have been an excellent investment vehicle, particularly in 2014 (took some time to speed up, corporate stocks did much better in 2012-13).
Account Closed
Ethics (not morals) and Loopholes. Which ones have you used and why?
19 April 2015 | 19 replies
Some properties went from on revenue stream to 4 different ones...4- I use the business of REI and created an LLC to defer some of the profits through to family members to help pay for their college as they are "employees" of my REI business and I can deduct (pay for their college) As i can use about 5k a year as education expenses. 5- Since my siblings are employees of my businesses and are in sales and marketing for the business they use a wrapped (lettered in advertisement) company vehicle going back and forth to school and other business related venues.