Richard Petrocelli
Should i start corporation or llc w/ business partner having $
Hi, I am embarking into the house flipping business in south florida. I personally am an electrician from NYC and am quite efficient in home remodeling in all almost all categories. Not that ill be doing all or most...
Timothy C.
Avoiding LLC/Personal Finances Commingling
As I'm getting the foundation of by business started, I'm trying to take into consideration the tax implications as well as the legal implications of the money I spend. Since I don't know the answer to this questi...
Soh Tanaka
Accounting question involving a property management company
For some reason this tenant decided to pay the Jan 2020 rent at the end of Dec 2019 to the property management company. The owner received the rent (minus the fees) from the property management company in Jan 2020. Sh...
Tess L.
Accounting Help! Transferring properties between my companies
Hi Everyone!
I’m a fairly new investor, I have some accounting questions I hope you can help with, because I’m tying my brain up in knots trying to work it out.
I came racing out of the gates and bought 5 houses in ...
Mike Dugan
Grand Rapids Michigan - attorney, accountant, title company....
Getting ready to pull trigger on first rental property, and need some reccomendations for following in Grand Rapids Michigan:Attorney: general real estate, lease-purchase option documents, investor friendlyAccountant:...
Gabriel Medina
Business account for my newly formed company
Hello BP folks. Ive been doing a little research on checking accounts for my newly formed LLC. The purpose of the LLC/checking account is to have all transactions for future flip in one name and going through one fina...
Erik Belinfante
Mortgage companies wants my bank account numbers
I am closing on two properties with two different mortgage companies and both are demanding my bank account numbers!
I have 8 properties and never had to do this on previous mortgages. Is this a standard demand now?
Mike Wiesenhart
Property LLC and parent company bank accounts
I have my investment townhouse in an LLC. I also have a parent company that owns that LLC. I have a bank account for the property LLC right now and want to open a bank account for the parent company. I don't want to r...
Michael Ealy
Some Say Owning a Rental House is NOT Passive - Prove/Disprove It
Landlords, BIG and small...Here's a question for you.How many minutes/hours do you spend every month on average doing all of the following: (per property)1. Calling your Operating team - Property Manager, leasing agen...
Kevin Colwell
Simple FHA question
Hello,
I have a questions with regards to a multi-unit property that I am going to be purchasing with an FHA loan. Now it states in the loan that I have the intent on living in one of the units (which I plan to do). M...