We are about to sell a house that is a flip/construction project--it's a total rehab and we've added a significant addition to the property, so we will have held it somewhere between 9-11 months and have not lived in ...

Hi guys,I just got my taxes done by my accountant and it turns out that I have to pay over 3K for 2014 (yes I was waaayyy behind but finally got my act together and pulled everything into an accounting package). Unfor...

I am curious what expenses others pay through their property management LLC on behalf of their rental properties.  I know that the property owning LLCs should continue to pay the mortgages, but what other if any expen...

Hi All,When i run the numbers on properties in Philly, if its a SFH, i usually don't include Water, garbage, electric etc. becuase that can be billed back to client: at least i think.Can somebody please confirm what c...

Hello Fellow PMs,For years I have operated under the following parameters with owner draws from our RETA:  1) One only draw per month 2) Reserve amounts of $300 per property (dupes and SFH).  I'm beginning to feel lik...

Can a person use their LLC to run the day-to-day operation example, pay expenses, vendors, contractors, purchase supplies, receive revenue, etc., even if the properties are not owned by the LLC?Thanks  

I have a question about this quote that rich dad poor dad, Robert Kiyosaki stresses on, ""One method that really helped me enhance my control in making money came from creating a corporation. A corporation can do many...

I own a SFR on a double lot. I'd like to split the lot, keep the SFR, and sell the (new) empty lot. After I pay expenses, I'd net something like $45K from the empty lot. I'd like to avoid capital gains on this $45K. I...

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $110,000

Cash invested: $25,000

Own and manage the property

What made you interested in investing i...

As I'm shopping for a new business credit card, I'm wondering if there's a legal or tax downside to using a personal card as a business card like we did before forming an LLC. Just use it only for business and pay it ...