Phil T.
Big bank or local Credit Union?
I live in WA state, and am going to be investing out of state. Would it be better to use a large bank (B of A, Wells Fargo, etc) for my real estate business (separate from my personal account) or would it be fine to u...
Jacob Prelle
Southern California investors, please advise.
I'm ready to make a purchase and prefer to keep it close to home in southern California. Keeping in mind the cities where prices are high, the demographics undesirable, or new businesses or homes being built etc., wha...
Kayla Johnson
What to Ask a CPA in Consultation
I’m in the process of putting my business together, though my husband and I have not yet purchased a property. I want to put a hard focus on laying the groundwork to create a business that is poised to scale. Once we ...
Beth Cannon
Unpaid Invoices in QuickBooks
What do you do with unpaid invoices in QuickBooks when you know you will not be able to collect rent and the tenant has either broken the lease or abandoned the property? Should the invoice just be deleted?
Mike Becher
Learning Accounting Basics
I'm looking to invest in my education in accounting. I have an ok/mediocre idea of what I'm doing. I'm extremely organized and precise with tracking income & expenses on an excel spreadsheet. I've read "The Book o...
Kim Livingstone
Best system to collect rent, pay bills and manage property
Any advice on choosing the best system for collecting rent and paying bills? I'd like to have renters submit rent payments directly into an account and want to be able to produce tax documents at tax time. System shou...
Allison Cutlip
Business bank account or regular checking and savings?
My boyfriend and I are closing on our first property soon which is a duplex where we will be living in one side and renting out the other. I am stumped as to if it is worth it to get a business bank account or just op...
Larry Spradling
Tax question from a newbie
2018 was my first year of owning properties. I bought two turnkey properties and received a 1099 for the rental income they generated. I entered this info into Turbo Tax. I was expecting some tax benefits. Am I mi...
Justin Foster
How should I outsource bookkeeping?
I'm looking for advice on how to best outsource bookkeeping for a rental portfolio of 15 - 20 SFR and small MFH units. Here's some background. 1) I suck at bookkeeping. I'm in the process of getting everything cau...
Kyle Kipka
Expenses across multiple properties
I self manage a portfolio of 6 units and am wondering about the correct way to account for general expenses that span multiple properties as tax deductions. For example, things like tools or building materials that I ...