Justin A Edmonds
CPA's: 1 LLC, Multiple, or DBA's under 1 LLC?
I plan on breaking into the real estate industry with rental properties. I hope to acquire multiple properties. Doing so, I'd like to know what is the best way to go about registering these properties. Should I: ...
Jose Batista Abikarram
Should I open a Business Account when house hacking?
Hello BP! I’m house hacking my first property In Rochester NY and basically trying to see your opinions on the following questions/topics. I know doing an LLC whole house hacking is not a good idea based on other post...
Tatiana C.
Should I open a Business bank account when flipping?
Hello my fellow investors,I'd like to ask your opinion regarding bank accounts. At which stage do you guys think I should open a business bank account? My plan is to flip houses and wholesale deals. I am in the earlie...
Jeff Lawlor
Bookkeeping: How Do I Split Personal and Business Expenses?
I have an ADU next to my primary residence and often buy things for both units. I'm using Stessa and looking for the right way to record only the business expenses.Here's what I'm doing:1. Enter an inbound "owner cont...
Kenneth T.
How to collect rent
My parents are starting to rent out part of their home instead of just letting my kids live there. This is great for them, but they aren't really good at management. Thus, I will be doing most of the work for them. Th...
Blake Dials
Multiple Bank Accounts
If I am renting a property of mine just under my personal name do I need to set up a separate bank account and pay the property loan, taxes, insurance etc out of that separate account? Or can i just pay everything out...
Michael Lopez
Hit a Tax Roadblock and I don't know what to do
I am hoping there is an accountant that would be able to assist me with my question because I have hit a roadblock. A couple of years ago I created a Solo 401K account using funds from a frozen pension which was rolle...
Jack Barkow
Co-mingling of Funds? Whats the big deal?
Hey BP,So I just started with my first property in January of this year. I have it in my name currently (No LLC or anything else just yet). I'm having this property managed by a professional property manager. I'm g...
Asher Knudson
Business Checking Or Personal Checking
I'm trying to get some answers regarding what kind of bank account I can use for my rental property. I have an LLC so I'm wondering if I can use my personal checking for my business or if I'm required to have a busine...
Nick Gagel
Bank Account Clarity
Hello,
Looking for the best way to layout bank accounts for a property.
1- account for security deposit
2- account for mortgage to come out of, that tenant pays into monthly via Zelle
3- account for property exp...