Oren K.
Accounting Question - Eviction losses
For you accounting types;I was going through the 12 month P & L (cash basis) of my property (39 Unit) and found that I did not fully understand the delinquency line. In speaking to the PM company, I was told that ...
Nicholas Negreiros
How does one know who will pay for utilities?
I’m just starting my real estate journey and I have this burning question that I can’t figure out.
How do you know or decide whether you or the tenant will pay the utilities (water/sewage, electricity, gas, garbage)?...
Jared Comeau
Appreciation tax break on rental properties
Good morning BPI have a question this morning. I'm hopinganyone knows how the tax break works in the US for the annual depreciation on a rental property works.How long does the depreciation tax break last on the prop...
Sam Mitchell
How do you structure your business? (LLCs, bank accounts, etc.)
I'm wondering how people with multiple rental properties structure things like insurance, LLCs, bank accounts, etc. I currently have each individual property under a separate LLC, with its own bank account, and its ow...
Kenny Dahill
Property Management: Accountants Point of view
I am curious to hear the perspective of property management from accountants point of view. For those of whose clients use PM.Do you have any say who the owners use?What is your involvement with the PM firms?What do ...
Isabelle Trepkoski
Rookie-Business Bank Account
Hello!I have purchased 2 duplexes in 2022. One was rehabbed and now is in the process of being rented. The other is in the rehab phase on half and the other half is rented. I realize I should have opened business acco...
Vicki X.
HOA scam??? Always keep the records and the receipts!
I received a nice looking Fedex envelop this morning from a TX law firm called holttollett. They said I didn't pay my HOA fee and had become a defendant. As a result, my $290 HOA which was due Jan 2023has turned in to...
Daniel Stubbs
To Sell or Not to Sell
First, I want to give a shout out to BiggerPockets for giving me an avenue to gain valuable knowledge. I’ve been working at a job I used to love for over 20 years. The company I work for is great! With this in mind I ...
Cole Steele
LLC, Personal Corp., or what?
I am currently considering buying my first rental property. I just read chapter 16 (getting ready to close) in "The Book on Rental Property Investing" and it talks about keeping a checking account for rent and a savin...
Mike Ball
CapEx Reserve In multifamily Properties
I am having a tough time understanding how $250-300 per unit is adequate for a CapEx Reserve. For example, if an HVAC blows out, that’s a $3000+ expense and there goes 10 years of reserves. There are so many other ite...