Hi All-
So I purchased my first rental property 2 years old. New construction townhome. My question is about Tax write offs. So my account has told me to not take the yearly depreciation on the property for my taxes...
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Hi Everyone,
I am relatively new to rental properties and currently own 3 single family properties as rentals. I’m trying to better understand the cost for a tax specialist. With just three properties, do you think i...
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I've been working with my current CPA for several years and have built a lot of trust, however, she's never worked with REI, rather entrepreneurs in almost every industry but RE. And after reading/listening to several...
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Hi,
Just starting out as a landlord (with a single property), and wondering what the best way to set up finances is. I currently operate out of my personal bank account, but was told it's a good option to set up a se...
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I am just now renting out my first single-family home! I am new to this should I contact a CPA or accountant right now or wait till later and just keep up with basic expenses from the property? I am new to this and c...
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Hi all -I'm quickly getting more comfortable with quickbooks but as I get better I want to continue to learn more. Currently I'm entering my mortgage payments into three accounts: principal, interest, and escrow. I'...
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How much of your profits are eaten up by income taxes on rent paid each year?? I know you get deductions for depreciation, and maintenance but even after that, it seems like any profits would be eaten up and possibly ...
Years ago when I was a bit more naive in my financial knowledge I opened up a Roth IRA Investement account with Schwab. Over a years I have added little bits of money here and there mostly to play around with the mark...
As your income and real estate portfolio grow, reaching the $150,000 marks in my opinion the beginning of your financial journey into real estate. It's at this juncture where you likely have around 20-40k saved up, an...
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TL/DR - I bought a 3.5 down FHA Duplex, I'll be living in one side and renting out the other. I still need to pay towards the mortgage, but I'm saving money compared to renting. Do folks recommend: 1. Just deposit ren...