Holden Smith
Student loan/investing plan dilemma
About a year and a half ago my wife and I decided that we wanted to get into real estate investing. In particular buy/hold single family homes in the Kansas City area. However between the two of us we had $70,237 in s...
Bienes Raices
Treatment of rental application fees (tax, LLC)
I'm taking applications for a property owned in an LLC. They are always in cash. Do I need to deposit this cash into the LLC bank account in order to do things the right way in terms of the LLC, or is okay to just kee...
Brian Osgood
Short sale done, received letter from attorney
Hello all,
So I'm looking for some advice here. My house was sold as a short sale, we closed on 11/4/09 and there was a first (Washington Mutual, now Chase) and second (Citimortgage) lienholder involved. I recently...
Stan Tallman
way to 'rectify' comingling business funds
So I was buying repair items for my rental at Home Depot and I forgot and used my personal debit card...is there a simple way of expensing the items and paying for them out of the business account AFTER the fact? The...
Yvonne Ruiz
Changing Title After 1031
Father and two daughters bought a house through 1031 exchange. Title is held as tenants in common, 50% father, 25% each daughter. Exchange was completed a couple of months ago. Would there be an IRS issue if father re...
Greg Widdicombe
Final transaction(s) in QBO to close out a flip
Hi many thanks for all the previous discussions on setting up QuickBooks for rehabbing, we poured through the advice and believe our setup and recording of expenditures are correct - now comes the fun part of recordin...
Cade Andersen
First Flip Offer Accepted
Just got my first offer accepted on a fix and flip. It will mostly be cosmetic work no major renovations. Any tips or info anyone can pass along for my first one? Closing in about three weeks paying cash. Doing all t...
Landon Elscott
Accounting Question - Question For Accountants - Property Tax Prorations Home Purchase
Hopefully I explain this in a way that is easy to understand. This is my first rental property purchase and also the first time I've really had to deal with any accounting of this nature, so I would appreciate any gu...
Account Closed
Fellow BPers, what do you spend the most on investing in?
a day to day or week to week basis? i mean to say, i don't mean your obvious occasional big purchases, the loan/tax/insurance payments, and/or all the tax that goes to uncle $am on ur short term flips.buy everyday or ...
Shane Woods
Please help me help my friend - buyer wants to assume his loan
Hi Y'all,
Here's the story, and my thoughts. Please help and correct any misunderstandings I have...
Friend bought a house FHA for $127K about 6 months ago. $5500 total out of pocket at closing.
A buyer (former ow...