I am very new to the industry, to the point that I think I should start an LLC as a holding company. The local title company says I should talk to an attorney first, but I'm wondering if this is necessary. Can I go st...

I’m currently reading “How to Invest in Real Estate” and just finished Chapter 4 & 5 which explain the different niches and strategies you can use in investing. There are SO MANY! The one main piece of advice that...

Investment Info:
Buy and hold duplex in Minneapolis, MN
Purchase price: $275,000Cash invested: $85,000 (~73k for 25% down payment and closing costs, the rest for renovations).Monthly cash flow: $520 (will be $750 on...

Hello, let me start by admitting I know I should have had an accountant do my taxes!  I have a single member LLC for a property management company. The company collects all rents, so I have 1099 MISC from several agen...

I've been doing a lot of research on rental property tax accounting the past few days and am amazed (frustrated) at how many different answers I'm finding. For example:

1. Pre-rental expenses. On the one ha...

If you only have $5,000 to invest into real estate. What would you do being a newbie?

I'm thinking myself around in circles, and hoping for the input of the BP community to settle me down. Feel free to skip down to the bottom if you just want to look at the numbers, but the numbers aren't what are real...

Hey guys, been setting up my LLC this week. Want to open a business account in the LLC's name. My understanding is I need to get a tax number. Do I get this from the IRS or from the state of North Carolina? Anythi...

I'm a recent addition to the community via the podcast - and like many of you here have the ambition of becoming financially independent (the sooner, the better!). Now, that I have a solid security fund on standby, an...

Hey guys, A little background: I've been renting a house for 2.5 years and my landlord is looking to sell. 2 Years ago they moved to Chili and now they decided they're going to stay. Before I moved in they had the hou...