Mike Reynolds
LLC questions for a series LLC
I'm not sure if this is the right place to put this question but here goes. I am about to open a series LLC in Texas. If I have LLC's in other states, can I merge them into the Texas series LLC? If not that won't real...
Account Closed
Business credit card
Hello BP. I am just starting to develop a real estate portfolio and I would appreciate your advice with reference to tracking business expenditures. I have not done a single deal, but will enter real estate with sin...
Mary White
Accountant says, "I'm screwed on taxes for the BRRRR I did..."
In 2017 I purchased a foreclosed 4-plex to do a BRRRR. We cashed out a state retirement account from a previous job, used cash and also partial 1031 money for the all cash purchase. In March of 2018, I got a loan on t...
Alfred Litton
Paying Myself Electronically from My LLC
Dumb question, I know, but when I pay myself from my LLC, do I need to write a physical check or can I simply transfer the funds electronically to my personal checking account? I ask because with an electronic transfe...
Julie Dillon
401k borrow or withdrawal/ cash-out?
My husband and I are 51 and 52 and only recently got into real estate investing so we want to be aggressive in growing our doors. We have 2 single family homes and 1 duplex and now we are pursuing a 4-plex. We cant de...
Mike Wilson
Series LLC for management of single family rental properties
I am looking for input from folks that use Series LLC's for their rental properties or attorneys that have legal experience with the concept. I attended a local REA meeting where an attorney discussed asset protection...
Mike Mitchell
Taxation of single member LLC
My accountant reported my interest income from my mortgage note portfolio as interest income with no schedule c. Could I lower my tax liability by reporting the interest in another way? This came up because I had an...
Frank Jiang
Spreadsheets! (Pro Forma & Accounting)
Hi BP! I wanted to share the spreadsheets my wife and I created to do deal analysis and accounting for SFR rentals.Proforma:http://www.biggerpockets.com/files/user/SpiralLoxo...- Assumption inputs can be entered as e...
Alex Lunsford
House Hacking advice
I'm coming up on my first property purchase, where I'll be the primary resident of a single family home. I'm getting my start in the Houston, TX market, and was wondering what advice or experiences some of you may hav...
Account Closed
Another Entity Question
Hi BP Family:I apologize in advance if this question has been answered in previous posts. I did several searches, however the results seemed to be fairly scattered and I wasn't able to find an exact answer to my situa...