When you have a single member LLC, it seems a bit silly to say that you held a meeting.  But without meeting minutes, how do you track what you are doing for legal purposes?  Prepare a quarterly report of some kind, p...

Hi BP family! Are there any investors whose primary source of income is 1099 or other contract work? If so, any tips on how to appear as stronger candidate for conventional loan? Especially if your income fluctuates m...

I paid a project manager to manage a new construction. When I asked him to issue 1099 MISC to all the subcontractors, he said since I paid them directly ( I issued checks), it will be my responsibility to issue them 1...

I really need help making the best tax situation here.I bought a note (owner in my name) from a bank at a discount.  For ease of analysis, lets say I paid $10,000 on a note with a balance due of $100,000.I then bought...

Hi- I purchased a house at a trustee sale in September in California.  Property tax is current through June.  I assume the bank needs to pay the amount accrued up until the trustee deed being filed.  Is that right?   ...

Hello BP! I am 22 and I am not currently in a position to traditional finance through a bank. So, over the past year and a half I've been looking on and off market for potential properties (residential and commercial)...

Hey BP.I was wondering is there a way I can refinance 2 properties that I have which are both free and clear WITHOUT a job. I looked into a hard money loan which based off an individuals' assets in total and it is a 3...

Keeping with our new thing for buying commercial properties in Independence, MO (of which, this is the second, sort of) here is another recent close we had that my brother @Phillip Syrios found.6 units; 3 houses and 3...

Why can a mortgage be only 50% of your income? For many, we pay 90% or more towards rent. Why so strict for a mortgage?Seems like the system is designed to make you fail...

If you are applying for a new loan during the year in which you purchase in which case you have not yet filed a tax return to claim the rental property will be 75% of gross rents evidenced by lease agreement and...