How do you know if a rental property will make enough cash flow before you buy? Budgeting is KEY. When breaking down a deal, it’s critical that you account for the costs of all capital expenditures (CapEx), maintenanc...
Account Closed
Loaning your own money to your own LLC?
After flipping a few properties and acquiring some buy and holds on my own I opted to start a LLC. However the LLC currently has no funds in the account and the bank told me that if I was to transfer any of my own mon...
Jeff D.
taking money from property A to buy property B
Hello,
I just did a cash back refi on property A. Property A is held in an LLC and has an associated biz checking account. The bank put the cash back straight into that account. Now I am needing most of that...
Account Closed
Using IRA money to fund first purchase
I work for a bank and during IRA training today it was briefly brought to our attention that the IRS waives its 10% premature penalty on a Traditional IRA distribution if that distribution is used for a first home pur...
Corey Duran
Looking for a real estate accountant. What questions should I ask?
I want someone who specializes in real estate taxes but it seems all accountants I talk to claim they can do real estate accounting as it is common. I own 13 rentals, do about 3 flips a year, and I am a real estate ag...
Jack Zhuang
If my CPA would told me last year...
Hey BG community,It's that time of the year again for taxes! Since I only had a W-2 and one rental property income, so it looked straight forward enough to do it all by myself on TurboTax, right? By pure procrastinati...
Neetu Patil
about taxes and insurance
Hi,While purchasing property should I add property taxes and insurance in monthly payment and let escrow handle that or pay once a year?Which will be beneficial?ThanksNeetu
Melissa Title
Taxes & Escrow - need advice on mortgager issue
Hey BP fam, hoping to get some advice here. Issues are Legal & Tax.1) I escrow taxes for one of my properties and just received my annual statement from the bank. My mortgage includes 2 PINs, a home and a parking ...
Tom Server
non LLC , use personal checking account to pay mortgage and bills or open a separate
So I purchased a triplex in my name, do not have an LLC. Does it matter if I keep the rents in my personal accounts? Or should i open a separate checking and savings? I do I open a separate account and pay the bills a...
Joe Wood
Inherited IRA Withdrawal Questions
Hey Guys,I recently inherited a traditional IRA (Non-spouse) and would appreciate additional feedback from those who are familiar with what options I would have. I am looking to pull out about $100k right now in order...