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What application/program do you recommend for managing your books/portfolio. We are currently using quickbooks but as our portfolio expands I was wondering if there are any other user friendly applications that anyon...
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Let me make sure I get this straight...Just for example, I buy a house today and rent it out tomorrow. From the day I begin to receive rent from the tenant through the Dec 31, this is looked at as "income" by the IRS...
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Wife and I have a few separate retirement accounts throughout the years of working at different places. None of them have the capability to direct the custodian to use the money for real estate investments. 1. How ...
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I know STR income is treated as active by IRS (like a hotel) and I have S Corp. My accountant used form 8825 (rental real estate income for S Corp). Is this correct? I would have thought it should appear in a differen...
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My wife and I are considering an investment in a small apartment complex and we're debating whether we should use existing available cash, take out loans on our 401ks, or convert 401ks into sd401ks. Any opinions or a...
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Hi all,This year, my fiancé and I bought and moved into a house, and started renting out the old house. The old house is in just my name (the new house is in both our names). Both our names are on the lease as the lan...
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Hello BP!What software have you seen helpful for tracking income and expenses for record keeping?Thanks!
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I currently have one rental property so obviously it's been easy to manage the financials. I only have one account. However I came across some money and I'm about to really grow my portfolio. My lender doesn't escrow ...
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Hi everyone!Just closed my first flip!Me and my partner created an LLC and purchased it in that name.How will I file my taxes if we make money on this first flip? Is it the regular way I always file my taxes as ordina...
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I’m interested in taking control of my 401K and using the funds to finance my real estate investments. I see this as a good idea for two reasons. 1.) it will help me on my path to financial freedom through real esta...