Dan Bennett
How to track deductible expenses in owner occupied duplex?
Hi folks,I recently purchased a duplex, am occupying one unit and renting out the other. Everyone seems to recommend separate bank accounts for the business (as landlord, collecting rent, paying expenses, repairs, et...
Michael P.
Rent Money, How to you withdraw?
When you receive your rent money, it goes into a specific account. Do you write yourself a check, or just direct deposit it from that account a certain amount that you feel directly into your personal account? What ...
Ann A.
Tax questions for Private Lender
Looking for tax related advice. If I lend money to a real estate investor friend, I would get a 1099-INT at the end of the year. Which would go as personal income in 1040. Is there any way of treating it as business i...
Tarica Davis
Wholesaling and Credentials
Hello, I want to start a wholesaling business but am not quite sure whether or not a need an LLC or DBA. I want to open a business account and keep myself personal separate. Is that possible? Is it necessary?
Jesse M Gutierrez
Moving Funds through LLC for Personal Use/Investing
I've searched the forums but haven't found anything directly relating to what I'm asking so here it is:
1) Can I receive funds from a family member via LLC to LLC wire and then simply transfer them to my personal acc...
Jeremy Kreer
How to Tranfer a Commercial Mortgage to a Personal Residential
Hello, I really need some help with a situation I have. I need to get a commercial mortgage I have under one of my LLC companies into a personal residential mortgage. The challenge is on paper I show I don’t make mon...
Brennon Manske
Realtor wants check written to her
Does anyone else find it strange that a realtor insists on writing her a check instead of sending everything though the title company? Seems like a no brainer to me
Aymee Flynn
What bank account to have rent deposited to
Hello,
My name is Aymee and I am new here! I am closing on my first investment property located in Peoria, IL in a few days and I currently reside in Los Angeles, CA.
I am trying to determine what is the best prac...
Bianca G.
How would you handle rental income
Hello BP Family! When you rent your property how do you handle the rental income?Do you open a seperate bank account for that and also how do you handle the security deposit?Can someone please advise.Thanks
Jeff D.
Owning Residential RE in Your Name for Financing Purposes
Hi everyone and thanks for taking your time to help me with my question.I am familiar with commercial properties and the advantages of an LLC formation, however I have recently thought about entering another market an...