Bryan Mitchell
Best Real Estate Investment Financial Accountability Tool?
I would like specific examples of the best financial accountability statements/tools (i.e. income statement, P&L Statement) to help me account for all revenue, expenses, per unit per month in order to determine my...
Chris Seveney
Easiest Predictor Of Losing Money In A Fund
As someone who has worn both hats as a GP and a LP - here is a statistic which to date has had 100% accuracy in determining if the investment will not end up successful.What is it?Having Audited financials completed o...
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...
Mark Miller
What tenant/other information do I require after PMA termination?
Hello all,
This is a follow up post to my previous post regarding the documents/items that I need to get from the PMC to self-manage the property (a SFH where a family currently resides there and will continue to do ...
Nicholas Zumwalt
Can you claim primary residence income
I currently have my Business under lease for the portion of the house that I use and my baswnt rented out. With both incomes the mortgage on my primary residence is covered and I have a positive cashflow.
My questi...
Roc Pilon
What are the actual documents you MUST have when going to speak with a bank/lender?
Hey guys!If you have listened to bigger pockets 135 or heard Brandon/Josh talk about it you know what I mean when I ask what are those documents you MUST have when going to a bank/lender?I would like to use my duplex ...
Nicholas Bronte
Professional project reports to show potential lenders
Hi BP,I recently connected with a lender who is helping me with a cash-out refinance. They asked me to provide the following information:Borrower name and ownershipProject description – address, purchase date, number...
Will Barksdale
Ownership percentage vs. profit allocation percentage
BP,
I have an interesting question regarding ownership percentage vs. profit allocation percentage within an LLC.
I want to have an operating agreement where party A owns 60% of the LLC and party B owns 40%. Addi...
Ralph S.
Beefing up Depreciation Expense - a Q for the BP CPA Collective
FAS 143 and FIN 47, from the Financial Accounting Standards Board (FASB) implemented a provision in 2005 that requires companies to recognize the future expenses of environmental cleanup of facilities (even if leased...
Andrew Medlin
Portfolio Loans
If you have obtained a portfolio loan, do you mind sharing the process you went through with the lender? Did you put together a presentation, business plan, etc and what else did they want to know? I will likely hav...