D King
HOA - accounting issues and late fees
I have a multiunit (6 units). The condo association is the worst I have seen. They don't send invoices for association fees and there is no web site to track account. Sometimes they just don't cash out the checks whic...
Matt Davis
Quickbooks vs Excel for expense tracking
Hi all, just closed on my first property last month and have been tracking all associates expenses in excel. Have been reading the Tax Strategies for Savvy RE Investor book and they recommend using Quickbooks Pro. Was...
Brice Connors
Holding On Vs. Selling
Greetings! So here is a predicament that I'd like counsel on. My wife and I recently purchased a new primary residence. This has left us with the townhouse that we had prior to our marriage. My question is should I ho...
Michael Masters
Freddie Mac Liquidity Requirements
I have a multifamily property I'm interested in but it would put me on the edge as far as post-close liquidity. Consider the following:Required liquidity = $200,000Cash accounts = $150,000IRA accounts = $500,000Would...
Kenneth McCormick
The best way to buy from a close relative?
Preface: Fairly new to all this.I have the opportunity to buy a two unit property, where we currently live in both units, from my brother. I intend to purchase the property, live in one side and rent the other when he...
Jane S.
They havent filed tax returns for 2021 or 2022
Showed house to a married couple who actually completed their rental applications quickly, mostly accurately, and have good rental history and working the same jobs for years. They are the first folks to ever accompli...
Dean Valadez
Is a W2 needed for a commercial loan?
I am looking to leave my W2 because it is an extremely intense and unhealthy work environment. I would like to get into the real estate industry, don't have any properties yet (so no rental history), have enough capit...
Johana Villamil
Need more cash to finish rehab
Hello my fellow Big Pocketers, I need some help! I am currently in the middle of a rehab, things won't left with my General Contractor and I need to take action. I have spoken with him several times already but it's ...
Bob Asad
How do you prevent co-mingling of funds?
If I have 2 rental properties and charging 1st, last, and security; can I take the last and security for both places (combined) and put them into a Bank of America savings account?In other words, I already have a chec...
TJ Verdiglione
Purchasing a Non-performing Note
Hey All,
I have the opportunity to buy a note from a bank on a commercial office property for well under what the property is worth, about a 40% discount. I have attorney's involved but am not clear on this process. ...