Alec Jacobs
Should I get an LLC for my first property?
Hello everyone.I am brand new to real estate and I have heard about the benefits of LLCs but was wondering if they are necessary when starting out. If an LLC is unnecessary at the start, what other options are there? ...
Yashank Choksi
Recs for Good CPA in the CLT Area
Hey everyone, I am looking for recs on good CPA for me. I have just started investing in real estate and I have 1 property under my belt so far. Does it make sense to have my own CPA when I am starting out or I should...
Dameron Shore
Local Bank or Broker Cash Account for Solo 401k Account
I am about to initiate an i401k and have put in an inquiry with my preferred CU as to whether they can (or actually whether THEY think they can) handle the checking account for it. The assets are currently in an old 4...
John Matarazzo
Taxes for a newbie (please share exp/advice)
Hey all,I just closed on my first property (duplex) a couple of weeks ago. I plan on doing most things myself, management, bookkeeping, etc. However, was thinking to get an accountant for the first year doing taxes. I...
Daniel Mrestani
LLC v. Personal Name & Bank Account for Rent Collection?
I think this is the right place...
Getting some of my ducks in a row to dive in.
I know an LLC cannot get a loan on property through a bank. But curious on once I start collecting rent (yes, getting a bit ahead of ...
Danielle Cage
Creating an LLC - use my CPA or diy?
Hey all,I'm finally at the point where I'm going to file for my LLC. There will be four members (all close family) involved. I'm in Illinois and the cost to fill out the paperwork myself is $500. My CPA will do it for...
Jeffrey J.
Accredited Status - Net Worth Requirement
Random question that I couldn't find when searching BP. When calculating your net worth for accredited status, how are investments in syndications treated? Are they completely excluded from the calculation or are we a...
James Stewart
Solo 401K checkbook - Local bank vs Fidelity brokerage
I'm in the process of rolling over my existing 401k from an old employer into a new solo 401k through sense financial. The solo 401k trust is paid for and created but I need to complete the rollover. I have the option...
Garrett Canter
LLC Structure to simplify Taxes and Operations
Hello All,I am getting to the point in my real-estate portfolio where the taxes are getting a little unruly. I have 4 rentals that are each held in a separate LLC for maximum asset protection (I know there seems to be...
Scott Klingman
Tellus App. Anyone actually using?
Is anyone using Tellus? It appears to be similar to Cozy, but offers free background and credit checks (no cost to landlord or tenant), and also has a decent android application (cozy does not). I've seen it mention...