Ryan H.
Single Member LLC: Self Charged Interest to Reduce SE Tax?
Questions: (1) May the owner of a single member LLC loan money to the company and charge the company interest for the loan? (2) If so, is the interest paid by the company a deductible expense to the company reporte...
Bryan Petrinec
QuickBooks and Security Deposit
I am looking for some guidance on managing security deposits, repairs, and return of the balance from a bookkeeping standpoint. This is the first time I am going through this and I want to make sure I am handling it ...
Nghi Le
If you have just enough for down payment, you don't have enough
I see a lot of people asking, "How much down payment does a hard money lender require?" My quick answer is 10-25%, primarily dependent on the lender, but can also depend on experience, credit, etc. But I honestly thi...
Daniel Kong
Partnering with the Seller
Hi BP! I'm talking with some sellers now, and they are interested in partnering together. Something along the lines where we would come and fix the property and their sale price to us would depend on what we actually ...
Coco Poyet
Seller holding funds in escrow for repairs or lowering price?
Hi BP community! My husband and I are in the process of buying our first property, a residential 4bd, 1 ba house in the Catskills in NY. The 2,500 sqft house was purchased 2 years ago as a foreclosure for $140K and fl...
Bob H.
Renting to Tenants With an Insurance Loss
I am considering renting to a couple who say they had a house fire. They say their insurance company will pay the rent. I see some red flags, and I'm wondering what other investors' experiences have been in this kind ...
Callaway Pate
Different MTR Guest Pools
Hey BP family!I am curious about different medium-term renter pools in the DC-Metro area. It's common that people bring up travel nurses and insurance placements, but in the DMV are there any other occupations or scen...
Michael Voltner
First Time Private Lending....Good Idea??
Hello, I have a 3 acre lot in a very well upcomming and popular area in Fenton Michigan. I want to build a home and then sell it when completed. I have been building homes for 20 years and have my Michigan Residential...
Hubert Chen
Hard Money Lender that offers intial construction draw advance?
Has anyone worked with any Hard Money Lenders that are able to offer a construction loan advance/pre-construction draw? Basically not looking to come out of pocket before getting reimbursed. I currently work with one ...
Jake Sablosky
Accounting Question - Tenant Paid Utilities
Howdy BP!
I have a business accounting question. I own a 4-plex in an LLC that has shared water and gas. I am using QBO and want to account for utilities that I initially pay for (since they are shared throughout th...