Becca Flim
Business Bank Account vs Personal Bank Account
Hey BP community!
We are in the process of purchasing our first rental property in PA and looking at opening up a separate bank account in order to track our expenses. At this time we are not looking at setting up a...
Steve Vanderlay
Taxes for foreigners
Hi BP community,I am wondering how does property taxes work in US? I will be using a LLC when purchasing the property then have an Holding LLC as I will be thinking long term with multiple properties across various St...
Eric La Pratt
MySmartMove or BP SmartMove - Why are these different sites?
I have an account with TransUnion's MySmartMove.com before I ever heard of BP. Now that I love BP, I want to support them and went to TU's SmartMove via BP. It said I didn't have an account... so I made one thinking m...
David Abrass
What to do with $200k and rebuilding credit?
We have $200k in bank savings earning little to no interest. While we have owned several homes over the years we are new to real estate investment. We'd like to gain some passive income with our money and try and buil...
Kevin Luttrell
Forced to take $25k passive activity loss deduction?
Hi All! Hoping someone can help me with this question. For the last couple years I have had losses on my tax returns from passive rental real estate activity. I am not considered a "real estate professional" by the IR...
Kyle Doney
401k Contributions From Personal or Biz Acct?
Hi,I cannot find any literature from the IRS on whether contributions to a Solo 401k from an LLC taxed as an S Corp have to come from the businesses account or if they can come from a personal checking account. My acc...
Account Closed
How do my husband and I pay ourselves in an LLC
Complete newbie here! My husband and I just started an LLC. We are each depositing the same amount as capital contribution so that our ownership is each 50%. My questions are: 1) How do we pay ourselves once we have m...
Barb F.
Primary —> rental: overwhelmed in Virginia
Hi all! Back in here after meeting Mindy Jensen on a recent cruise ☺️My situation: bought my first home in Fredericksburg, VA in December 2019. Cash-out refinanced in November 2021 at 3.75%. I’ve lived in it solo the ...
Kristen Chapin
BRRR Strategy Questions
I am looking at the BRRR Strategy. When analyzing properties, is there a certain percentage of ARV that you can determine if its a good deal without doing the calculator on every property EX: ARV 300K (must get house ...
Greg Wright
Using a self directed IRA for rehab.
Has any rehabber used a self directed IRA for rehabbing houses? How do you handle the profit. Does it have to go back into the IRA which would seem to defeat the purpose as you couldn't make any money to live off. If ...