Danny Sok
Separating Personal and Business
Hi guys, so I’m fully renting out my first multi family property and now I’m living in my second multi family property (house hacking). I have separate checking and saving from my personal life which comes from 9-5 da...
John Sampson
Self filing taxes for small property management company
Hello, let me start by admitting I know I should have had an accountant do my taxes! I have a single member LLC for a property management company. The company collects all rents, so I have 1099 MISC from several agen...
Dan Smith
Partnering with a friend
Hey BP, I have a friend who I have been speaking with about partnering together with and I was hoping for some advice on the matter. We are looking at contributing 50% each to fund a new deal and we wanted to make su...
Paul Brady
Bank calculating rental income wrong?
I have two rental properties
One with a $5400 mortgage payment with $6600 in rents coming in after expenses ($1,200 in profit)
Another with a $2000 mortgage payment with $3000 in rents coming in after expenses ($1,...
Ben Brigham
annual s-corp tax strategy
Should a flipper (who is structured as an s-corp) consider buying additional properties before the years end in order to offset higher than normal profits on a tax return?
Christian Luong
1031: seller credits and closing costs
Hi everyone,
I plan to sell a house and do a 1031. Are there any tips to avoid out of pocket expenses? Ideally I'd like to find ways to pay for expenses without having to pay from my own
- $12K roof repair before se...
Kole Kingslien
How to do the Bookkeeping!
Hey guys,I'm starting out, and have 1 property, and I am trying to figure out how to do the books. I have decided that I want to use Excel for the first year, to get comfortable with bookkeeping. I currently have one ...
Jimmy Mooney
Using credit to purchase a property and then immediately cash-out refinancing to pay it back - is this possible?
I have a small amount to use as a down payment but a lot of the properties I'm looking at are "cash only" and no financing available. Is it possible (with good credit) to get an unsecured line of credit, use my own ca...
Peter J
50% and 2% rule question
I realize these have been beaten to death on this forum so I'm not here to bring this debat back to life but do have a question.
I don't think it's possible to follow the 50% rule if you don't buy a property that isn...
Cory Iannacone
Just Completed First Rehab: Before & After
Pretty Pumped. Just completed my first rehab. Learned a lot and looking forward to moving onto the next one. Before & After: