David Kirkpatrick
Self Managing Multiple Portfolio's
Hello Friends! As a brand new investor I own two portfolio's totaling 11 properties consisting of 19 & 16 Units. Both portfolios are owner financed and in two different LLC's. I am self managing for now as I want ...
Ray M.
Would I be double taxed?
If I were to direct deposit money from my 9-5 job into my business bank acct. Would I be taxed on that money 2X....Once for personal and once for the business?Also, would this violate keeping personal money/business m...
Kevin Galus
Security Deposits
How do you handle security deposits? I know that they are placed in a seperate account, but I am wondering how to account for non-refundable pet fees? Can I treat this as income and move it to my day-to-day checking...
Karl Eisenhofer
Security deposit compliance in Maine
Maine law states that security deposits must be held under terms that make the funds protected from bankruptcy and judgements against the landlord. Talking with my bank, they offer escrow accounts where funds belong t...
Shera Gregory
Rent deposit for house owned in my SDIRA
I have a checkbook control Roth IRA in which I recently purchased a small single family home for long term rentals. For my non-IRA rentals I have a separate savings account to hold all the rental deposits since yo...
Satyam Mistry
Bank Accounts for Multiple Properties
Hello, I am a newer member to BP, but am looking forward to learning as much as I can from all the experienced investors here. I currently have 6 rental properties and am curious to know how others with multiple prope...
Andrew Reis
Opening Up Tenant Escrow Account before choosing tenant
Hello - I am told I can open a tenant escrow account before choosing a tenant. How do I open a tenant escrow account without having tenant W9, a SSN and a birthdate? Called one local bank who said I would need my SSN ...
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...
Justin Sumulong
Handling funds for different rental properties
When one owns multiple rental properties, would it be recommended to have multiple checkings/savings accounts for each property or can more than one property be handled in one set of checking/savings accounts?I unders...
Bryan Hylenski
Quick Question for Quickbook experts!
Hello AllTwo tenants. 1. Move out Tenant, left the place a mess. House needed cleaning, so we billed him 75$ for cleaning penalty fee.2 Move-in Tenant said she would clean the place herself in exchange for the 75$...