If I were to obtain a personal line of credit to combine with my own capital in purchasing/rehabbing a property, how would this affect me when it comes time to cash-out refinance?
I'm a newer business owner with a recently set up LLC and I was wondering if I should be more careful about how I pay for things for the business. Sometimes I pay for things directly from one of my personal accounts e...
Hi,I went into contract on my first rental property a week ago, and getting ready to close the property in few weeks (under my own name, with no LLCs). I am wondering if opening a business checking account is recomme...
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...
I'm not quite sure on how to structure my bank account... currently I have a property account and a cash flow account, to separate the cash flow from the expenses, but should I be opening a business account and within...
Hi BP Community,
I'm in the process of setting up an LLC and have questions regarding the initial funding of the LLC. The plan is to purchase a property under the LLC but in order to do so, I assume I would need a se...
Hi,Beginner landlord here...I plan to have one, 2-4 unit multi-family home by this time next year. I imagine I will be itemizing my returns. My question is should I plan to find a personal accountant, or would some o...
I am currently brainstorming strategies and ways to get into REI and came across a question of, "when I buy an investment property or properties, and I'm not starting an LLC or corporation so I'm not opening a busines...
Hello,I’m closing on my first deal and have decided to hold off on putting the property under a LLC. Since I wouldn’t have an EIN to create a business checking account, am I allowed to simply open a new personal check...
I'm looking for some opinions on a way of personal accounting for the way I finance my properties. I currently only have a condo, but I'm going to try to buy a multi-family the next time I'm back in the States for mor...