Jerry Jones
Partnership with a general contractor
I am considering doing a partnership with a general contractor who I trust and who has quality work. He basically wants to rehab homes with me and and split the profit 50/50. I would be putting up all the money, ...
Nathan Biller
How do you handle your books when a PM manages your portfolio?
I have a handful of properties which are all managed by the same property manager. They use Rent Manager, and I'm able to log in and view all the standard reports as well as a complete general ledger detail. However, ...
Angela Toy
IRA /401k /SOLO401k/self directed?
My husband is leaving his old job so we’re looking to rollover his retirement. Our CPA mentioned moving it to a Solo401k and using that money to buy properties (he has an LLC aside from his W-2 job). When I mentioned ...
Aaron S.
Establishing a "damage baseline" for slobby tenant accountability
Hi everyone, I'm hoping I can get your advice about something.
A couple years back, I purchased a property as-is. Conscious decision, timing was important, price reflected generous buffer for known needed work.
What...
Tami R.
You need to cash my check they day I give it to you......
We do not have the portfolio as most of BP members. I work full time in a career outside of real estate. We have between 55-60 homes. I swear the longer I am in it the more I hear, "why don't you cash my check imme...
Abraham Burns
Structuring LLC for Dividends
Hi Everyone!So here is the situation. Myself, my mother, my in-laws and grandparents are all ready to get into the house flipping business. We all have been involved in the industry for quite sometime and have enough ...
Jordan Turner
Home inspection & Escrow accounts
Good day all,My name is Jordan and I am in the process of buying a triplex in Philadelphia pa. My agent and I recently sent in a offer to a potential seller in on the 120,000 triplex I plan on buying. I spoke with my ...
Edmund Fontana
W2 Income and Rental Depreciation
My wife and I make over $150,000 with our W2 jobs. Tax accountant basically said we make to much to write off the depreciation of our rentals. Can someone help me understand this and is continuing to buy rentals even ...
Cody L.
Odd accounting question - How to classify security deposit bonds
We work with a company that'll allow a tenant to buy a bond in place of paying for a deposit. Say you want to move in for as little as possible. Rent is $700/month. Since your credit sucks and you were evicted 16 m...
Account Closed
Do i have to pay income taxes as a wholesaler?
Hello, i am starting out in wholesaling and hoping to start my first deal soon and was wondering, do i need to pay income taxes on what i make?! Thanks