James Baker
How to separate business from personal?
I recently had a mess up in my taxes due to my personal finances being too intermingled with my business finances. I own a Triplex that I live in. My book keeper and CPA have recommended me to open a separate bank acc...
Emily Muhoberac
Splitting Electric Bill For Owner/Occupy Property
Hi! Looking for some advice: I have an AirBnb garden apartment attached to my main residence. I pay all utilities for the unit, as they are not separated (internet, water, sewer, electric, gas). As I'm doing my bookke...
Jon Pakula
1st Rental Property Questions
In April we are moving into a new home and will be renting out our current home. Our current home is paid off and does not have a mortgage. This will be our 1st investment property. My question is...In Texas...is it a...
Alex Zuroff
Starting Out Nuts and Bolts - Checking account
I understand that I need to have separate checking/savings accounts for my REI activities for a variety of reasons. If I'm not going to be using an LLC to start, does that account need to be a true "business" account,...
Greg Westenhoefer
What is the best way(s) to set up banking to manage properties?
I'm inquiring about the best ways to set up my banking in order to best manage investment properties. I would greatly appreciate any recommendations to assist in managing property finances as effectively and efficient...
Patrick Torres
Setting Up LLC & Bank Account for Buy and Hold Strategy?
If I purchase a property to rehab and hold long term, how should I consider setting up my financial accounts? Assuming I wanted to transfer it into an LLC, does my LLC needs it’s own bank account in the companies nam...
Kim Hopkins
Electronic Distributions to Investors
Hello!
It seems like this answer should be out there everywhere, but I searched Google and the BP forums and can't find it..
We have a few investors in our deals. We want to be able to send them their distributions ...
Mary Jay
What is the proper way to
Can you guys help me out with this?I know that the rents deposited into my LLC bank account can not be just transferred into my personal bank account (Because if I do it then it pierces the corporate veil) 1) But what...
Navid A.
How to fund a new LLC the "proper way"
Good evening BP,I started a new LLC for my buy and hold properties and I'm trying to figure out how I should "properly" fund it. I opened up new bank accounts under the LLC and want to move funds from my "personal" ac...
Thilan Ganegedara
Too good to be true financing option ???
I have the opportunity to buy three properties to close but I can't put 20% down. I posted in a Facebook forum inquiring about other funding options. Then out of state lender contacted me and offered the following ter...