Sheri R.
RENT AND REPORT OR NOT
I will be paying cash. He will live in the house alone. I will be paying the tax and insurance. Hopefully he will be able to reimburse me for my expense by making monthly payments to me. I am unsure whether I should r...
Nicholas Jose
How do you calculate applicant's monthly income after expenses?
Good afternoon, BP.Let's say you want an applicant's monthly income to be at least 3X the monthly rent. A) If the applicant is an employee, would you just subtract the average expenses found on the bank statements fro...
John H
Multifamily Analysis Question
What do you guys look for when considering multifamily properties?
I'm looking at a 7-unit property currently with the following figures:
*Total Gross income (Rent + Laundry): $78, 000
*Operating Expenses: (Based on...
Andres Alava
Is it wise to purchase a rental property and rent it to myself?
I am fairly new to the corporate/business world. I have started my S-corp ~1.5yrs ago. I have definitely seen the savings as I had been able to keep a lot more of my money and tax savings under this new corporate sche...
Nathan Waters
Profit and Loss Statement on Rental Properties.. Mortgage?
When you write up your profit and loss statement, how do you break down the mortgage? Is the interest, taxes and interest the only loss? I'm assuming principal is not written in the loss category even though it goes a...
Austin Bull
House hacking expenses
Hi all,I'm learning how to analyze deals using the BP calculators. I think I am messing up the expenses portion of the calculator.In the context of house hacking, when it comes to small multi-family housing, or even a...
Nasir Smith
Is there a vacancy expense?
I am still new to all of this but I want to know. As a landlord when you have a rental property and a tenant moves out and the property is vacant, are you required as the landlord required to pay the mortgage, or is t...
Ranjith K.
Tax write off mastermind course as business expense
I am planning to take mastermind courses for real estate investment business. Different programs costs $2000-$13000, yet to finalize. I wanted to know what's the best way to go about it so that I can tax write off tha...
Rivy S.
Initial vacancy-- how to classify expenses?
When you first buy a property, and don't find a tenant until after the first couple mortgage payments are due, how do you pay for those expenses? Do you pay those out of your own cash, and consider those payments as p...
Don Ireland
Owner Occ Duplex: Accounting
I'm in the final stages of buying my first rental. This will be an owner occupied duplex. Since I can't include expenses for my unit for tax purposes, I'm wondering how I should handle accounting for my unit.
Shoul...