Noelle Quinn
Best Cash Back Credit Cards for Landlords
Hi All,I have been trying researching the best cash back credit cards to pay my property expenses instead of using my personal credit card and bank accounts. My brother and I share a couple of small investment propert...
Jason R.
Business Structure and expenses
I currently have one property rented out, I own and manage it under one LLC (I am the only partner). My question relates how to properly pay for and deduct business expenses across multiple entities. Especially if the...
Rashid Khalil
s corp possible ?
I earned 90 k as a 1099 contractor working in my LLC. expenses are around 20 k so NOI is 70k. it appears tax efficient if I tax this income as S- corporation. i do have EIN for my LLC and all income and expenses wer...
Kyle Roberts
Banking and Accounting for Single Family Home House Hack
Hi Everyone!I recently purchased my first property, a single-family home in Richmond, VA and am planning to house hack. I'm trying to figure out how to set up the banking for managing the property. I've heard it's bes...
Timothy Heck
Accounting for Personal expenses- payments for credit cards in Property Managment Sof
Hello,I have been using Rentec Direct the last few months and am getting used to is, just a general question for PMS if you have personal expenses on a credit card, do you categorize those under "Owner Withdrawals" or...
Thomas O'Donnell
Setting up a Checking/Savings Account for Rental
I am looking to set up an account at a bank different than my personal one for rental property expenses/income and savings. However most places are saying I need an LLC In order to use the accounts for a rental proper...
Mike Young
Language used to describe Investment levels
Being fairly new to real estate investing I have an odd question...
Are there certain terms or jargon used to describe the steps/levels/scenarios below?
1. Paying for your own mortgage on primary residence and your ...
Tesho Akindele
Taxes on Quick Sale of Rental Property
How do taxes work if I sell a rental property for a gain within a year of purchasing it? Am I able to deduct all of my expenses from operating the rental against the gain from the sale?
Adam Benenati
House hacking
BP members, those of you who have house hacked what was your experience like? I am currently looking for a duplex. Live in one side rent the other. Often I here people say this is a great way to live for free or clos...
Saika Maeda
Buyer Agent's commission and tax write off
Hi all,
I'm about to place an offer on a property with an ADU, which we plan to rent it out.
I understand that if I rent this ADU out, then I can have a tax write off on the mortgage payment and insurance payment ...