Wendy Forbes
Setting up Bank Accounts
I will check with my CPA as well, but am interested in BP members' best practices for setting up bank accounts for rentals. I am transitioning my rentals into LLCs and plan to have a separate bank account for each. I ...
Joshua Fair
Balancing Profit
Current mortgage on house with taxes and insurance is $800.00 I can currently rent my house for $1,400.00.
How much of the $600.00 would you put towards expenses and how much would you take for profit. What f...
Brad Penley
Best book about doing a 1031 exchange?
I'm looking to do my first 1031 exchange for my duplex in San Diego, CA and buying a property or properties in Panama City Beach, FL. Since my top unit in the duplex was rented the entire time I owned the duplex I wil...
Kevin Barnard
Under Contract for Triplex OOS
Hey BP, so I joined a few month ago with a house hacked duplex in SoCal I purchased in Dec 2013. I wanted to own a 4 plex by the end of year. Guess a triplex will work. I've listened to audio books and webinars like c...
Alfred Litton
What If I DON'T Want to Be Paid by My LLC?
So, newbie question here. Hypothetical situation: I have an LLC that owns 3 sfh properties, and the NOI for the year is $20,000. Do I HAVE to pay the taxes on that $20,000 if I choose to keep it in the LLC and, for ...
N/A N/A
1031 exchange, mortgage boot, and capital gains tax
I'm planning on selling one property for about $360,000. It currently has a mortgage of about $270,000, or about 75%.
The property I'm thinking of buying would be of lesser value and in a different state. Probably ...
Amanda Sokol
Contractor not paying himself?
Has anyone ever seen this? I'm getting bids for a project now and there is no management fee. The other ones I am getting have contractor fees of $20-30k. Is it that he has low overhead? Thanks! Amanda
J Singh
[Calc Review] Help me analyze this deal
View report*This link comes directly from our calculators, based on information input by the member who posted.
Ken Martin
How to solve for SHARED UTILITIES in Michigan
I may have broken the cardinal rule by purchasing a multifamily mixed use commercial/residential property in Michigan that has shared utilities AND electric heat. The two commercial units share one meter, and the thre...
Joshua Hively
Help me analyze this deal please
View report*This link comes directly from our calculators, based on information input by the member who posted.This is a highly sought after neighborhood in our city. There is a debate between partner...