Andrew Rogers
Separate Bank Accounts for Property Income/Expenses?
So I'm still in the learning process of real estate investing and this question randomly came to me. For those of you who currently have property and have (rental) income generating from it, do you have separate bank ...
Patrick F.
Type of banking accounts & credit cards for managing first property and beyond
Hi All,I am looking to buy my first property as a short term rental townhome in South Bend. I am an out of state investor from Northern VA so I plan on using a property management company that pays me monthly after de...
Kenneth LaVoie
pet fees separate or part of rent
We charge a $400 "entrance fee" plus $40 extra per month per pet. My wife thinks we should list and account for the extra $40 separately while I think it should just become part of rent for simplicity. We don't send m...
Michael Smith
How to handle security deposits
Hey BP,
I'm about to close on my first investment property in the next week or two, and after doing some renovations I plan on renting it out. I know that in the state of Florida landlords are required to put securit...
Robert A Lawson
What to do with security deposits in Indiana
I have been a property manager (and my wife a realtor) for many years on a smaller scale; helping out relatives and friends. But recently my company has exploded in the Hamilton County, IN area. I knew never to touch ...
Wileyka Lara
What bank should I use as a landlord
Hello, I’m currently in the process of purchasing my 1st 3 unit home as an owner occupant. I’ve been trying to cross my t’s and dot my i’s as I’m getting ready for this process (I’m both nervous and excited!). I have...
Karen Higgins
Property Management Trust Accounts
I have a question about property management trust accounts. My husband and I currently own and self manage 105 units in Minnesota. We are looking to expand our business this year and potentially start a property man...
Jessie Sykes
Tons of Newbie Questions
Hi everyone,
My wife and I are in the process on closing our first property. It is a duplex outside of the Charlotte, NC (Kannapolis). I had a few questions if you all wouldn't mind giving us some tips.
We want to f...
Andrew Threet
How to Setup Bank Accounts
Are there any CPA's or experienced investors on here that can help me out with how to setup my bank accounts or offer advice on how you setup your systems for your real estate investments?I'm looking to close on my fi...
Barbara Engels
Acquired first FHA owner occupied duplex...now what?
Rent from inherited tenant will cover most of mortgage payment. Open new acct and transf to personal? Or deposit into personal directly? Not sure how to set it up...Thanks!