Anthony Murphy
Business accounting
Hi everyone. I will be forming an LLC for note buying as well as tax liens and some private lending. Anyone involved with these things that have formed a company have any advice on accounting practices? I don't kno...
Christopher Gilbert
How long can an ex-property manager hold on to the tenants deposits?
I recently let go my property manager and took over the management duties on a couple of my houses. I resigned the tenants and local law states that if tenants move out the landlord has to refund the deposit within 3...
TJ Quinata
Borrowing money from 401k
I’m thinking about borrowing 20k from my 401k to get started. Is this a smart idea?
Steven Aponte
Taking Down First Short Sale - What Am I Missing?
Hello BP'ers!Today I sell my depreciating asset (my car) to free up some funds and hopefully acquire a new income producing asset. So naturally, last night I was searching for homes to BRRRR. I stumbled onto one in an...
Luke H.
Deposit deductions rekeying, holes in ceiling, flooring
Hello all,Tenants have left and I wanted to know if I could deduction from deposit for re-keying locks? I ask because I have 5 doors with locks. I looked at the Texas Rental Handbook, but it doesn't say if I could c...
Darryl Mimick
PM is not returning keys to me
Hi BP Peeps!I'm having an issue with a PM that I recently moved on from. We did not renew the contract. He is not returning my keys to me on two single family homes that I own. He will not return any emails, phone cal...
Julio Gonzalez
The Home Office Deduction
The tax deadline is just around the corner and you want to be sure you don’t miss out on the Home Office Deduction! While you may not see a huge tax deduction like you would with cost segregation, energy credits, bonu...
Trey Brooks
What lists to ask for from the county clerk?
I'm currently at the county clerks office, and I just asked for a list of foreclosures.... I got the list along with how to access them online. When I looked at the properties online, they were sectioned in groups... ...
Sue Jing
Tax liability -urgent question- thanks!
I am currently doing 1031 exchange, and looks like we won't be able to close one of the properties we exchanged. The 180days closing deadline is next week. It's a long story, how we get to this point. My question is,...
Mekail Faquir
Any way to cover Down payment with loan?
I’m looking at purchasing my first properties, that being said I don’t have a substantial amount of $$ for a down payment. How should I go about this? Is there a way to secure a loan for the purchase plus Down Payment...