Cliff H.
Contractors charging tax on payments to personal accounts?
Hey folks. Any one else dealing with smaller contractors requesting payment to payment systems like Venmo clearly linked to individual/personal accounts on invoices from their business (and requisite business taxes ad...
Garrett Tierney
Paying refinance closing costs. Personal or rental account?
Can my cash to close amount be withdrawn from my rental checking account? This account receives all of my rental income, and my mortgage and other property-related expenses are withdrawn from this account. It is entir...
Bill Wells
New Investor Looking for Mastermind/Accountability group/person
I am a commercial electrician/estimator/project manager in Denver, CO. I have always wanted to own rental property and I am now ready to do it! I am looking out-of-state as Denver is an expensive market. I have some m...
Fernando E.
Guidance on managing LLC and personal bank accounts
Hi BP family,Wanted to get insight from you guys on how you separate your LLC checking account and your personal account at the early stage of your business where basically the funding that goes to the LLC checking co...
Harsh Dangaria
Refi and deposit into personal account, tax implications.
Hi BP family.
Quick question:
Lets say, I paid $100K cash for a property purchased under a LLC. Few months later I refi'ed the property at a slightly higher amount and the bank paid the llc back $120K.
If I use t...
Ron Smith
Account Closed person recommending a turn key company
I am a newbie to this site. I got a colleague request from someone who is Account Closed. Intially I thought like it is a funny user name but looks like this persons account is closed by BP ( perhaps for violating som...
Jacob Disher
Moving cashflow from rental/ business account to personal?
Hey all! I was just curious about how or if you take your cash flow out of your rental/ business account and transfer it to your personal account. If so, are there any rules that need to be followed or is that you jus...
Michael Lettieri
How to properly account for personal maintenance labor?
Hi, I am just starting out as a landlord and am trying to learn from my mistakes. I believe I have not been adequately record keeping my maintenance expenses. I do repairs and upgrades myself and only keep records of ...
Eric W.
Funding personal investment account from business LLC checking
I've got one rental home and have it held in a single member LLC. My LLC business checking account is growing and I'd like to put that money to use by linking my LLC checking account to my Vanguard personal investmen...
Tyler Kenson
In-Person or Virtual Group or Class - Accountability
Hello All! A fairly common story; I have circled real estate investing for years but lacked any staying power. I feel like an in-person (or virtual) group or class is what would help me to kickstart things and hold ...