Rodney Wright
Title company problems (Earnest Money Deposit)
I brought a house on a on-line auction and I'm using the Title Company they suggested. I wired the EMD deposit to the wrong account. When I found out it was to the wrong account I immediately sent another EMD to the ...
Ricardo Hernandez
Should I use a bank with no branches in my state?
Hello. I am new to real estate investing, and had a question about banking for my business. Does it matter if the bank I use does not have branches in the state I am in? I already have a personal Capital one 360 ac...
Reese Shulman
Real estate wire fraud
Real estate wire fraud is becoming more common every year. According to the article in 2015 consumers lost ~$9 million from this fraud vs nearly half a billion dollars in 2022.A Silicon Valley executive had $400,000 s...
Joanne Potros
Robinhood investing = $217k IRS tax bill?
I invested some money into stocks and some crypto over the past few years. I noticed that robinhood reports much higher numbers than actual purchases to the IRS. I've never actually sold anything at much of a profit e...
Jason Heath
Depreciation Recapture for rental property
I sold a rental property. Half-way through owning it, I realized that I had failed to begin depreciating it when I bought it, and I started depreciating it. Had I depreciated it from the beginning, I would have acco...
Nevin Wilkie
Paint and Cabinets recommendations
Hey you guys, I just recently finished Sheetrocking and taping my current BRRRR and now I need some suggestions on what paint and cabinets I should use. The unit consists of two beds, one office and one bathroom. This...
Brett Sayers
Does Everybody Need Help With Quickbooks Like I do?
Hello all. I'm not sure if I am doing this right or not. I purchased QB Desktop last month to convert my 6 spreadsheet rental property tracking system to one program. I have never used any accounting software before a...
David D'Ambrosio
Pro Forma Evaluation
I was wondering if anyone had input on the percentages to use when evaluating a pro forma for a rental property. Specifically the vacancy rates and maintenance rates I am seeing are 5% each for Orlando and Indianopol...
Philip Hy
How do you live off your cashflow?
I've never heard anyone on any podcast or webinar talk about the mechanics of how they live off their cash flow. Do they have a bank account for each property? Or does it all go into a single bank account? How much, h...
Claude Hodge
Start-up capital deduction?
Hey everyone! Been a while since I was on. I want to know what to expect come tax time. I started my L.L.C., and have a business checking account for it. For the entire year of 2009, I have been and will continue ...