Joshua Ferrey
HOW DO YOU TRANSFER PROFITS FROM RENTAL?
Hello BP community! Im closing escrow on my first home purchase that I will be living in for a couple of years while I rehab it before I rent it out and move on to the next property, as I want to buy and hold. My ques...
Ryan Alexander
Question for Veteran Agent/Investor: Best way to set up bank acct
I had a question for seasoned real estate agents/investors: how do you set up your bank accounts?I have my real estate license and just getting into investing and have an LLC. Obviously I’m setting up a separate accou...
Marcel Pean
Taxes and LLC
I recently created an LLC back in February and have questions about taxes and bookkeeping, such as do I absolutely need to have a business account or is it ok to spend from a personal account so long as you're keeping...
Jason Malabute
USE BOTH UNITS IN ANALYSIS BUT ACTUALLY LIVING IN ONE
I heard Brandon say that when dealing with an owner occupied duplex you should analyze it as if you renting out both units even if you're actually living in one of the units. The idea of thought behind this is that yo...
Caleb Gray
House Hack Improvements on Personal Side - Tax Implications
Hello BP,I recently did a small amount of improvement (<$1000) on one side of a duplex that I am now living in. Projects included installing vinyl plank flooring in two rooms, refinishing kitchen cabinets, and inst...
Mary Jay
Is it ok to pay mortgages from the property management bank account?
Hi guys,I have a property management company that has a separate bank account and all of my tenants deposit the money into this account. Lets call it "Mary's Property Management LLC"Is it ok to pay mortgages from the ...
Priya Srinivasan
Private Money Lending
I'm borrowing money from a private money lender to close on a quadplex. He mentioned he will transfer the money to my account and not the title company. Is that okay? Also this is my first time with private lenders. W...
Jess Azong
Tax question on refinance and need a CPA
Hello! So, friend bought a property cash under their name and now refinancing (cash-out refinance) the property into an LLC that is jointly owned by both of us and we will be getting funds from this refinance for reno...
Marco Trimborn
FEIN needed for a LLC (for a buy and hold land deal) ?
Hi,
I am considering to buy a land deal in Nevada with other friends of mine and we are looking to set up a multi-member LLC in the state of Nevada for this. The LLC will only hold the vacant land for the moment and...
Account Closed
Creating a corporation and BLOC
I am about to close on my first rental property. I am planning to create an S corp from the advice of a CPA. My question is, I've been searching for 5 tradelines for my new corp to get Paydex credit. However, I think ...