Thang Nguyen
Creating a Property Mgmt LLC to handle expense for 6 rental LLCs
Hi BP community,I currently own rentals in my own name and they are commingled with my personal finance and being protected with a $1M umbrella policy (not smart so please don't judge). I would love your advice on th...
Patrick Nuciforo
Taking out money from LLC Account
Fellow investors. I own 3 properties right now in my perosnal name. I do have a seperate bank account for those 3 properties (3 properties share one account) that is not linked to my personal account.Question is when ...
Emily Chen
Columbus city tax
I live in California but own a rental in Columbus OH, do I need to report my total federal taxable income? Or will I only need to report my Columbus rental income on my Columbus city tax?
Inderpal Chadha
Ira
Hi
What I understood from reading the blog on self directed IRA is that:
1. Money deposited in self directed Ira can be used for buying investment property.
2. All expenses related to the property should be from th...
Patrick H.
Rental Income Impact on MAGI Question
Hello,I was wondering what is the impact of rental income on your modified adjusted gross income (MAGI)? Do you get to take all the deductions and depreciation from the rental income before it gets added in against y...
Pope Lake
Accounts for monthly expenses
When setting aside money for expenses that aren’t necessarily incurred monthly such as capex, repairs and vacancy - where do you store these funds? For example, is there a separate account that you maintain and lump a...
Gregory Schwartz
Buy and hold business structure
Ladies and gentlemen of BP,I am planning out the structure of my fledgling investment business. Any and all feedback is welcome. Thank you in advance…Strategy: Buy and hold with enough equity in each deal to flip as a...
Brandon Heimsoth
How do I report year end expenses?
I'm new to the whole management thing. As for year end expenses, which year do I report them for? For instance, if I pay for maintenance by credit card in 2020 but don't pay the credit card until 2021, do I report t...
Dustan Marshall
how to keep track of net worth
After reading many books on personal finance, a common recommendation is to keep track of your net worth. I like the idea of this. For me, RE investing is about CASH FLOW to grow and sustain the business and NET WORT...
Marty Summers
Anyone ever cash in their 401ks to buy real estate?
I built a sizable real estate portfolio cash flowing about 5100 a month. I want to know if anyone in here ever cashed in their IRA/401k's--- took the penalty and invested in real estate cash flow?