Justin Davis
Water usage and billing tenants
Does anyone know the best way to charge tenants, at a triplex on one water bill? I have a tenant with five kids. I live in another unit and another guy lives in the other. That's a total of 8 occupants using the water...
Anthony Charles
Interest deduction
I am going to buy a house and currently plan on paying the downpayment with cash.
What I would like to do is after closing, take a cash advance from one of my credit cards to reimburse myself for the downpayment. Th...
Evelyn Randolph
How to cover roof repair before purchase
Hello, BP Community!I reached agreement with a seller to buy their 12 unit building at a very good price, but the property is located in an area where I'm required to have windstorm insurance because it's location clo...
Justin Pumpr
Lease to rent on Airbnb
Hi all, I am thinking of trying the lease-to-rent business model as advertised by Brian Page and I had a tax question. Can you deduce the amount you pay as rent as a business expense? So say I rent the property for $1...
Marysue Connelly
property management access to our checking acct?
We just closed on our first apartment complex. In the past we have done our own management. This 24 unit apartment complex is out of state. We have chosen a property management company we are comfortable with. The...
Michael Madden
Financing the whole amount of a property...
Im buying a 4 unit building.price is 150K.rents are 25,200/yrtaxes are 6,000/yrwater/insurance 2,300/yrIm paying cash and doing a cashout rifi at 4.75 amort. 25 yearsSince my out of pocket is basically 0, am I in bett...
Chelsea Allen
American Express Platinum business credit card
Hi everyone,I currently have an AmEx platinum for personal use for which the annual fee is $695. I was thinking of getting one for my property's LLC and then adding myself as an employee with a separate card, cancel ...
Johann Jells
Liabilities of using personal VISA for LLC expenses, paid by LLC?
As I'm shopping for a new business credit card, I'm wondering if there's a legal or tax downside to using a personal card as a business card like we did before forming an LLC. Just use it only for business and pay it ...
Katlin H.
Analysis without all the itemized expenses.
Hello All,
What is your work around for your initial analysis of a property when all the expenses are not available?
For example purchase price of $324,900
Gross Income:$49200
Expenses: $8000
Net income:$41200
Cap r...
Syed Naqvi
Checklist to buy a Multifamily building or an Apartment complex
Hello Folks: I am trying to make a checklist in which I want to include almost all the points to be considered in buying a Multifamily or an Apartment complex of 40 or more units. This checklist can anyone use to quic...