Joe Xie
Direct deposit rent bank set up questions
One of my tenant inform me that she is switch banking, as a result, she need set up new ACH to pay the rent. The process include she initiated a try deposit into my bank account which it went through. After I told her...
Corey Meyer
Can I take venmo for rent from tenant?
Hi,I have been taking payment from tenants via venmo to my personal account. Recently I moved my rental properties into LLCs and opened business bank accounts that correspond to the properties. My legal advisor is a...
Murat Ozdo
Looking for teammates lender, contractor, realtor, property manager
Hello everyone,
ABOUT ME: I am a non resident foreign investor who just joined the real estate market possibly in the worst time :) I am interested in Cleveland,OH. I have been monitoring the market in and around Cle...
Karl Eisenhofer
Security deposit compliance in Maine
Maine law states that security deposits must be held under terms that make the funds protected from bankruptcy and judgements against the landlord. Talking with my bank, they offer escrow accounts where funds belong t...
Himanshu Singh
Tax advantages for STR/Airbnb owners
Hello All, Quick question to see what others are doing for optimizing tax advantages for STR. Background:We got a second/vacation home during the pandemic and now its ready to go online as an STR in the Russian River ...
David Corrales
Business or Personal Checking Account?
What kind of checking account do I need for a rental property? Will it need to be a business checking account even if I don’t use a llc for the property or would I need a DBA?
Abidogun B Kehinde
Tenant has no account: I am not confortable with cash payment any
Advise on how tenant can pay me with a visa card. she has no bank account. In the past she handed me the card to draw money from ATM. A lawyer advice against it citing potential for many complications. How else can I ...
Bill E.
capex vacancy and repair account
do you have separate bank accounts for these three or do you just put all of these reserves in one account?
Davido Davido
Neighborhood Cooperates to Rent Abandoned Home. Who Pays Taxes?
In this situation, $60,250 has been collected in rents over a 12-year period ($38,000 net), yet I cannot tell who, if anyone has a reporting or tax liability for the rents collected, or when their liability, if any, w...
Justin Cox
Cash flow on a rental property
Hi everyone. I have a questions about cash flow of rental properties. So I’ve been reading about all of the expenses I should be taking out of the rent I receive to determine my pure cash flow. Mortgage, taxes, insura...