Justin Eaton
Using a private lender for down payment
Hey Guys! I am looking to purchase an 8 unit mixed use property. It has 4, 2 bed 1 bath apartments and 4 commercial store fronts. The property has a 16% cap rate!! I was wondering if anyone has ever used a private le...
John Gillick
"Individual" expenses in a 50/50 LLC
Tax question. If you and a friend have a 50/50 LLC and you drive say 10 miles to check on the venture, is that $5.80 mileage expense:
a. an expense put on just your K-1?
b. an expense put on the LLC's tax form (882...
Sole Angel
How much capital is a good amount to start investing?
Good morning! I haven’t bought my first property just yet, but I was wondering if $35,000 is enough to start buying a small single-family home in North Carolina. I found a lender that will cover the purchase and rehab...
Gail W.
Renting TO an LLC company?
I am getting nowhere when I Google or search on BP: "Renting to an LLC" or similar wording because all I get back is info on becoming an LLC if you own rental property. What I'd like to know is, if I rent my house ou...
Andrew S.
Who is on the hook for back taxes?
I bought a property in March 2014 (normal closing here in NC - via attorney). Today, I get an overdue notice from the County for some transfer taxes in 2013 (i.e. way before I owned it). Of course, the county takes t...
Amanda G.
Lowe's business card?
I have a single-member LLC for my rental property and a Lowe's card in my own name for the 5% discount. I'm trying to decide whether to get a business one for my LLC.Would the business card effect my personal debt-to-...
Randy Steele
Garbage Law in Washington State
A tenant provided notice that she is not renewing the lease and moving out, the building is a triplex, each tenant has separate entrances and parking areas. Her lease reflects that she will pay for garbage and electri...
Account Closed
rental had fire damage, can I fix myself instead of contracting out?
My insurance co sent me a check but it had my Lender's Name on it as well as mine. The mortgage company wants me to sign and send to them along w/ other paper work filled out; contractor's name, tax number and etc. ...
Benjamin Dutil
Closing costs seems high!
Hi BP community. I have a question about closing costs. I’m buying two duplexes on separate deeds and my closing costs are going to be roughly $6200 for closing for each not including my agent fees. I’m buying one wit...
Ty Mar
Using Architectural and GC fees to satisfy part of "down" payment
Hi BP,I am a senior architect with 16 years of experience with high rise residential design. I gut rehabbed a couple properties (designed and built) with my own resources, but considering this route for investing furt...