Thang Nguyen
Creating a Property Mgmt LLC to handle expense for 6 rental LLCs
Hi BP community,I currently own rentals in my own name and they are commingled with my personal finance and being protected with a $1M umbrella policy (not smart so please don't judge). I would love your advice on th...
Brad Fausett
Quickbooks Question- How do you handle security deposits
Can someone advise what i need to setup to handle security deposits. Thanks
Patrick K.
For investors with multiple doors. How do you set up bank accts?
Do you have everything flow in and out of a single account and let accountant does his thing? or you set up one new account for each property you own. or is there an even better method? I want to keep a more accurate ...
Kevin Nalley
PayNearMe, Family Dollar, and Ace Cash Express
I recently received an email from PayNearMe they will no longer accept payments from the Family Dollar as of August 10th. That leaves me with Ace Cash Express since there are no 7-11's in Louisville, KY. My tenant ...
Jack Barkow
Co-mingling of Funds? Whats the big deal?
Hey BP,So I just started with my first property in January of this year. I have it in my name currently (No LLC or anything else just yet). I'm having this property managed by a professional property manager. I'm g...
Rob Cucugliello
Financial Organization - LLC or not?
Hi all!Hoping for a little guidance here. I am small time but growing. I currently own 2 SFH rentals but will soon have 5 rental units within 4 properties, plus a 5th property that I'll be flipping (to build additiona...
Avery Biles
Cash for downpayment
We have a lender saying we cant use cash as a down payment for a house, and that we would have to distribute the money to family/friends bank accounts then get them to wire the funds to the the lender. I'm not an expe...
Jason Turo
Wave accounting application
Could you share your experiences with using the Wave Accounting application and how you configured it to use with multiple properties and multiple units in each property. I would like to allocate business expenses ac...
Account Closed
Delaware LLC for a California business?
I've seen many companies incorporate an LLC in Delaware and operate in California locally. Is this a good thing to do for a Californian looking to own properties in California? Would we bypass the California LLC tax...
Chris Seveney
Transferring Properties out of LLC Question
Quick Question to the group:lets say you have a LLC which owns properties - call it Property LLC. Property LLC is owned by Holding LLCHolding LLC is owned by Jane Doe.If you were shutting down the LLC and wanted to ju...