Account Closed
question about who owns and controls deposit bank account
Hi, have just purchased a 60 SFR portfolio.my question is:Do I allow prop management company to open and control bank account for deposits that I draw from(and they also have draw access) or do I open my own account a...
Bienes Raices
Treatment of rental application fees (tax, LLC)
I'm taking applications for a property owned in an LLC. They are always in cash. Do I need to deposit this cash into the LLC bank account in order to do things the right way in terms of the LLC, or is okay to just kee...
Alicia Zhao
Is interest from private lending passive income?
Hi,I lent some money to 3 people last year as a private lender. I told my tax accountant that it should be considered as passive income to offset the passive loss from my rental property. But my tax accountant said it...
Brian Whitney
Personal Mortgage vs LLC - Bookeeping and Accounting Question
Hi All, Last year I did my first BRRRR on a duplex, which I refinanced in my name. I'm finishing a 3 unit BRRRR and will most likely put this one into an LLC. I would like to separate my name from the duplex and start...
Andrew Clark
Single Family Home House-Hack Tax Issue
Hello All,I am experiencing an interesting problem…I am a new real estate investor in PHX, AZ. I bought my first property a month ago, a 3x2 SFH, with a 5% down owner occupant conventional loan. I just signed 2 tenant...
Ryan Vienneau
LLC structure for separate holding LLC's, property management LLC
Need help from the accountants out there, there are a lot of posts on this topic but none I could find that address this question and my CPA wasn't much help (may need a new CPA)...I just moved my buy-and-hold rental ...
Akash Y.
Canadian investing in USA. LLC or personal name?
just like the title says should I purchase homes in my personal or under entities like an LLC.
I have read if I use an LLC I will get double taxed in the USA and in Canada
Does anyone know if this is true or not I a...
Gerald Lunetta
How do you pay yourself?
I'm about to finish up with my first flip. I have it in a LLC, after I finish and sell it my accountant suggests I should open either another LLC or land trust to pay myself from. What do you guys do and what are your...
Chatree C.
How do you manage rental income into maintenance, capex, etc
Hi, newbie buy and hold investor here! I wonder what's the best way to manage or bookkeep rental income so I set aside part of the money into profit and future expenses such as maintenance, capex, tax, etc.
If I leav...
Jay S.
Beginner Landlord Questions
Hi all,I just went into contract to purchase my first rental property. I'm getting everything set up in the 30 days I have prior to closing. I had a few questions:1. Florida requires that tenant deposits are kept in s...