Account Closed
Ways to monetize you primary residence.
Recently I bought my first house and I had a spare bedroom. So I debated on renting the room out since I live close to a local college. I though it would be easy to rent out a small bedroom to one of the students. But...
Lee Carter
Closing Friday on my first rental property!!! Nervous and excited
Found what I believe is a good deal in Kansas City, MO area from a motivated retired seller. 5 year tenet paying 920/mo (owner pays electric and last 12 month electric bills average to 135/mo). House is a small 2bed, ...
Allen L.
LLC owning other LLCs bank account best practice
Hi all, I was reading a book by Rich Dad Advisor Garrett Sutton and he mentioned opening a Wyoming LLC to hold LLCs operating in other states with weaker LLC protection. I wonder if anyone have done this?
My main qu...
Jeff Bisgier
Form an LLC.....Yes? No? Maybe?
Hi Folks,I was hoping not to have to write an new post about forming an LLC as there are tons of them on BP, but after reading through so many forum posts and reading articles on both BP and other websites, I'm more s...
Kevin Lefeuvre
Need insurance for STR/VR? Read this...
Like everyone here, in the past couple years I was anxious about my insurance coverage. I studied a few policies very recently and changed my provider. This post is to share my findings, and may help you in your asses...
Larry Spradling
Tax question from a newbie
2018 was my first year of owning properties. I bought two turnkey properties and received a 1099 for the rental income they generated. I entered this info into Turbo Tax. I was expecting some tax benefits. Am I mi...
Chad Ramsey
Does a short term rental need to be set up in a LLC?
I'm under contract to close on my first short term rental (vacation home..AirBnB)... I understand the LLC would be helpful if ever I sold the place so there is no need to re-permit. Any tax implications? Any other con...
Ryan Eldridge
More than 30 days Notice on a month to month tenant in Denver
Hello, We are selling a place and want to serve the tenants with notice. They were on a lease that expired and are now on month-to-month as spelled out in the original lease documents. The original lease document says...
Gary Shaw
Deal or No Deal?
I have a lead on a 3 bedroom, 1 bath single family house in a nice suburban area. ARV is $135,000 - $160,000. The house was built in the 50's. The biggest problem is a previous owner added an addition that expands ...
Jasen Bankson
STR Damage Insurance - Direct Bookings
Hey! I rent my home out for weekends about 5-7 times a year sometimes through AirBnb/VRBO, but some customers like to book direct and we can avoid fees and such of the third party. As such, I'm interested in a third ...