Joshua Ferrey
Tax/Legal Implications of Large Deposits into Personal Bank Accou
Hello all! So I was wondering if anyone could help me with advice or possible experience with what the legal or tax implications might be when my investors give me large checks which I deposit into my bank account aft...
Michael Biener
accounting for newbie with owner occupied multifamily
Hi all, i have been lurking around bigger pockets for the last 6 months or so. This site is very helpful, especially for wishful newbies like myself. I finally closed on my first investment property a few weeks ago. ...
Anne Grello
Keeping rental income separate
Newbie closing on my first property, how do I keep my rental income separate from my personal accounts if I don’t have an LLC and therefore can’t open a business account? Should I just open a separate checking account...
Mike Healey
Banking Best Practices for Rental Properties
Just purchased my first investment property in St Louis, MO - A duplex that we'll be owner-occupying. We have about a month before closing and right now, I'm trying to figure out the best way to handle my banking situ...
Jess Azong
Cash-out refi question
Hello! So, friend bought a property cash under their name and now refinancing (cash-out refinance) the property into an LLC that is jointly owned by both of us. The lender insists on paying the proceeds or the cash-ou...
Kyle Frey
Buying Income Property with a friend / partner in an LLC
Bigger Pockets World,I am interested in buying my first rental property and have read a great deal on whether to put this in an LLC by creating a general warranty deed and deeding the property over to our LLC. I think...
Peter Zimmer
Managing Income from STR
We are just about to enter into the STR world as we're putting our previous home up on AirBnB. I'm curious whether most people with one or two STR's just manage income and expenses through your personal accounts vs. s...
Alejandra Tena
Accounting questions for my First Buy & Hold property!
I just purchased my first buy and hold property. I want to know the best way to run my books for this property. If this property is considered my primary home but could potentially be a rental. Should The profit and a...
Marina Macartney
HELOC - Payoff with conventional loan, taxed?
We got a slight discount on a rental property with a cash offer. We are funding with a HELOC but quickly taking a conventional loan to payback the HELOC. Can we have the loan wired to the HELOC account directly or is ...
Sam Morgan
Business Bank Account - first solo RE Investment (owner occupy)
Hey BP folks,I will set up my LLC once I buy a property I won't live in, but this first one is a duplex I plan to house hack and I am really excited. Closing is set for July 10. So, the question is, what name do I giv...