Theresa P.
Specific Question for Illinois Landlords Regarding Security Dep.
We own a 3 unit building in Chicago. Do we need to keep security deposits in a separate bank account? Any information I see on the matter only references larger properties. Just wondering if there are any rules smalle...
Aaron Duthie
Selling 1 Unit of a Full Duplex - Tax Implications?
Scenario: I have house hacked a Full Duplex for 2 years (lived in unit A, rented out unit B). The Full Duplex has two tax IDs, one for each unit, so I can sell each unit separately. Let's say I now sell the rental uni...
Sohil Shah
Renter asking to add another person on the lease
Have a renter who already signed the lease. Now she wants to add the another person on the lease who is staying in the house with her. Is this a red flag and how do I handle this? The lease was approved in her name. S...
Bryan Igboke
Househacking: How to Separate Mail
I'm doing a househack and living in a separate ADU conversion in the back. Any tips on how to make sure my mail is separated from my tenants? My only idea is to get a separate mailbox and label it "unit B" or somethin...
Michael Joseph
Recommendations on how to manage the finances of my real estate investments
I am in the process of buying my first property. I will be setting up an LLC as well. How do most people manage the money for their properties? Should I setup a separate bank account and have the money flow in and ou...
Harry Nima Zegarra
Banks accounts for Series LLC (series A, B, etc) in Dallas
Hello guys,New in Real Estate, started last year and opened a series LLC. Initially (as I am still learning about this) bought the property, got the Tax ID and opened the Bank account under the "mother LLC"... now I a...
Mike Cotter
I'm Paying for Heat on My 14 Unit Apartment and its Killing Me
Looking for some advice regarding my extremely high heating bills. I own a 14 unit apartment building located in Commerce Michigan. I currently pay the gas and water for my tenants while they pay for their own elect...
Anita Andrews
How to deal with non-separate utilities in a multi-unit in Philly
How do you deal with getting tenants to contribute to water, gas, and electric if there are not separated meters in a multi-unit in Philadelphia?
Zander Dragony
Where to get a business license?
Hey so I'm setting up a separate bank account to keep the funds from my Real Estate deals and personal finances separate. In order to do so I need a business license but because I'm just setting up a sole proprietorsh...
Gregory Stone
Should I use equity from my home refinance to make a cash offer
I am currently in the process of refinancing my home. I have locked in a low rate and can pull additional equity out of the loan. The equity should be enough to help me pay for my first rental property with a cash off...