Dustin N.
Too strict on Income Verification for screening process?
Hi all,Wanted to get opinions on if the screening process I did was too intensive and made me lose out on a potential tenant.Stats: SFH, 4/2, good condition home, in good neighborhood right next to university, about 1...
Tyler Stephenson
Transfer funds to business account or leave in savings
I am in due diligence period on my first investment property. My question is: should I send all my funds into my business checking account to use it as the down payment and closing costs account? Or just leave it in...
Deborah Burian
Question about Disclosures
In a private sale, investor to investor, how are disclosures handled?
Max Emory
Helpful Bookkeeping Tips for Real Estate Investors
CRAFT YOUR INCOME STATEMENT (P&L) TO APPEAR MORE "BANKABLE" WHILE STILL LOWERING YOUR TAX BURDENHow your categories/accounts are structured on the income statement (profit and loss) matters and this may help you "...
Shawn M.
Debt repayment is not an expense?
Since PRINCIPAL repayments aren't an expense when you track them in Quickbooks, how do I track them in a way that lets me know what my monthly cash flow is? ( as in the amount of money I can put in my pocket each m...
Pratima Ulagadde
Tenant utility bill question
Tenant does not want to pay utility charges till statement shows her date of occupancy. The utility statement has meter readings backdated 1.5 mths as it comes from the power company. Utility statements are on a rolli...
Lynn Z
Documenting timely mortgage payments
On a full doc loan I'm being asked to verify timely mortgage payments for the past 12 months on all mortgages. What the heck is the credit report if it's not a way to report timely payments. What's the reasoning be...
Steve Fitzgerald
Operating Expenses vs Journal Entry
This might not be the right forum, but I thought I'd give it a try. I'm keeping my own books for now. For those of you who are keeping your own books do you typically count your principal, interest, and escrow as oper...
M S
Subj To Write Off
I am starting my first subj to deal and its going to be for my own residence. Since the mortgage is still under the other persons name, how am I entitled or am I even entitled to the interest tax write off my taxes ne...
Moriah Giles
Prepare your paperwork for new home purchase
Hello friends. Upon preparing your paperwork for the bank for proof of funds... what if you do not have statements for investing and retirement accounts? Does this mean you should open a investment or retirement accou...