Jamie Quint
Bank Account Structure Help Needed
I may be inheriting management responsibilities for a few rental properties soon. The current setup is a mess, with funds intermingled between buildings for cost of repairs, maintenance, rental income, etc.
Is there ...
Jason M.
Real Estate Accounts
I'm curious if most of you have separate checking and savings accounts for each property or just a separate account for your personal finances and one for all of your real estate? Do you use CDs for your security depo...
Patrick McCabe
Can I deduct expenses incurred prior to listing my STR?
I purchased my property in October 2018... however I did not list it on Airbnb until January 2019...therefore I had no rental income in 2018.Can I still deduct expenses such as mortgage interest, property taxes, depre...
Roberto Joya
Buying two properties at the same time/back to back perhaps?
Hello BP community! I am excited to share that we are currently in escrow for our first property and in hold for the second one but, due to my low income seems challenging to qualify for it. The 1st property is as res...
Frank DiGiorgio
Taxes on Property Selloff
Hi All!I purchased a farmhouse on a 5 acre parcel in Upstate NY for $375k. I subdivided 3.5 acres, and kept the house for LTR. I sold the land for $105k and asked my lender for a partial lean release. They agreed an...
Tip Lee
Question on vacancy reserves
Hi, Newbie here. I have a quick question regarding "vacancy reserves". Im having a bit of a hard time wrapping my head around this, but I think its very simple and Im over thinking it. When calculating vacancy reserve...
Wilfredo O.
Could use advice on new career path
I am a military veteran with an accounting background. I am looking to transition into the field of real estate. More specifically, an investor looking to receive rental income and/or fix and flip. I am trying to figu...
Justin Trudell
401K Epiphany?
I think I might be blowing my own mind right now..."conventional" wisdom says max out your 401k contribution to lower your tax burden. 2013 was a good year for my 401k balance as the stock market was red hot (i have a...
White Kandlez
Wholesaling with no llc/scorp
Hi all,
Was just wondering about wholesaling without an llc/scorp. Is it ok to just use your name, and for how many wholesale transactions? I want to use profits for income first but I know taxes can be a pain (I'd l...
Nicholas Blaylock
How to save for rental property?
Need in depth advice on what financial portals would be best to help me possibly save up for my first rental property. I currently have a household income of 42k, and looking to save up short term (roughly 6-8 months)...