Helen Fradette
Newbie here, How do I calculate percentage amount to save?
Hello, I'm in the stage of figuring out where my money is going. When I hear people say, "Live off 50% of your income, invest/save the rest" how would I calculate that amount? I know the difference between GROSS and ...
Otis Clayton
How do closing agents fund private money deals?
In my search for private money , I have heard there people use SDIRAs to fund real estate investments and be in the first position.I wanted to know what are the pros and cons of using SDIRAs for fund Real estate?
Bellman Tumasang
Collecting rents with a property management company?
Let’s say my property rent not NOI is $1m a year.
All tenants pay online using an online service or app etc.
I have a property management company that I pay 10% so $100k.
As the property management company manage...
John Fider
How do you organize your portfolio finances?
Does your entire portfolio go into 1 bank account? How do you know how much money is allocated in each property so as to not use up funds you saved up for rental A, to pay for rental B's expenses? How do you keep it a...
Chad C.
How does LLC owner get paid and tax consequence?
Hi, all, I see in this forum many people are recommending form a LLC and use the LLC to hold rental for asset protection purpose. In doing so, one of the main step is keep all the funds separate from personal funds, w...
Jasper Cooper
Tax-advantaged Accounts for Real Estate Professionals
Hello,I work a normal job, and my wife is the real estate professional who helps manage our investment properties. Due to depreciation, we report negative taxable income from our real estate investments, which helps ...
Troy DeLong
Renting Out Basement
Consider this a hypothetical situation. Say a family member (different last name) was to rent out a room in your basement for $500/month (Market value for similar would be around $700/month). Most people (homeowner) w...
Jonathan Pizarro
Structuring LLC/Banking with partners
Hello,
My brothers and I would like to start investing in Real Estate and would like some input on how to go about LLC/banking with them. I do have my own LLC and was wondering if it would be better to create a new ...
Deanna McCormick
Trust, Do I split accounting for year of death ? EIN & Grantor ?
I'm trustee of family rental property, Grantor passed away this year and I'm wondering if I split the accounting as of 1/1/16 to date of death, and then from date of death to 12/31.How does this work for property taxe...
Seth Nowak
accounting and tax basics for one rental property in my LLC
Last December I bought my second rental property and have deeded it over to my LLC which I set up for this purpose.It has been cash flowing very well every month, so I'm thinking I'll have to pay income tax on the pro...