Laura A Barry
Questions: Tax Strategies for Vacation Home converted to STR?
I bought a lake house in July 2016 with the original intent of renting it out and then possibly retiring there in 10 years. I didn't actually rent it until 2019. During 2019 it rented for a total of 52 STR days (19 b...
Josiah Sia
Personal Account - transferring money to/from Business Account
Planning to close on our first investment property in the next month or 2 (If all goes well). We have a personal checking and savings right now. We will be starting a business checking and savings with a different ban...
Stephen Lassiter
Keeping a copy of photo ID
I am renting out an apartment in my backyard. My applicant's co-signer is questioning my need to keep a copy of their photo ID. Everything I read on Bigger Pockets says I should get a copy of the applicant's photo ID....
Cody Z.
Financing strategies while waiting for BRRRR cash out?
Hi All,I am looking for ideas of what other investors recommend doing while waiting to pull their cash out of a BRRRR?I have been thinking of asking for a Line of Credit or personal loan to purchase another property i...
Bryson Owensby
When to take profits out of Rental?
Have about $2k of profits sitting in a checking account solely for my rental ($4k total with SD).
When can/should I take the excess profits out and invest them?
Michinori Kaneko
Switching Title of the property to an LLC
Hi, I just went into contract for my first rental property a week ago. the property i'm purchasing is already in contract with my personal name, as I read many articles about how setting up an LLC is overhyped. I ha...
Shawn Thom
Moving from LLC financing to financing in your personal name
I was going to be buying a home in my LLC name as a flip. I am thinking of keeping it as a rental. obviously you get better financing in your personal name. Has anyone ever gone from financing in your LLC name and ...
Chris Roush
Tax write-offs for creating an LLC
I am working with an attorney to setup my first LLC. Since this is my first business, I'm trying to figure out how to handle the expenses when the 2019 tax season begins. Since I had to start the LLC with my own perso...
Justin Kushner
Starting Out Setup... Bank Accounts, Credit Cards, Etc.
Hello, BP Community!I am close to acquiring my first two SFRs in Alabama, and will be adding one in Indy shortly for a total of three.While this is very exciting indeed, I am now getting overwhelmed with the concept o...
Amir J Reichental
Which address to use when buying a property under LLC?
I'm buying a property under my LLC and the title company asks which address I would like for the deed and municipal documents.Should I provide them with my home address or my LLC address? Not sure what are the implica...