Will F.
LLC for flipping or Peronist name w more insurance ($800 LLC fee in CA)
This may seem controversial or “not by the book” for many. but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips) a year and many years do 0 flips
Do most fl...
Jeff Caravalho
quickbooks online - setting up books for investing
Hello BP,I use Quickbooks online for my drafting business & was wondering how self-employed people set up their books for their personal finances, personal business & a rental, or two, or ten...I was told Quic...
Jay Richards
Not piercing my own veil
I have recently begun my journey into investment real estate. Two houses held under seperate LLCs. I am concerned about how I can expense things that were purchased on a personal credit card (building material and h...
Matthew Rembish
Home Equity Line of Credit
So I recently met with a contractor who does many rehab flips a year and being a new investor, I asked him what was the best way to fund these kinds of deals with the limited money I currently have. He told me to go t...
Michael Zagorsky
Cost Basis and Losses for converting rental to personal residence
We had a tenant leave our rental property in May of this year. We received about $5,000 in gross rent. The tenant trashed the property and we had to spend about $8,000 on repairs. Including new paint ($4,400) an...
Steven Silbert
Separate Bank Account
As I move toward acquiring my third property, I realize that I really need to start separating my finances. I plan on opening a separate account for my two rental properties. Do any of you have advice about what banks...
Carlos M.
Personal vs. LLC
Hello Everyone,
Currently I am looking to refinance an Investment property I own. The question I have is should I borrow through the LLC or borrow through my personal credit?
The reason why I ask is because I have...
Scott Hraska
Owner occupied rental question -What if the account has no money?
All,In the next few weeks I'll be closing on a 4-family house, and my 1st owner occupied rental property. I read the forums and a few books and understand that keeping business and personal finances seperate is key. I...
Tyler England
Am i able to claim a vehicle during tax season?
Im about to buy a 2nd property with plans of expanding further. Im going to be setting up a business account to separate my personal expenses. If i were to buy a truck to help with the business im building but still u...
Eric F.
Policy Bundle for Sole Proprietorship?
I'm closing on my first property (SFR), starting a sole proprietorship, and getting insurance.The article below mentions policy bundling (personal home, car, investment property, etc.) to save money. This sounds great...