David Judge
Rental unit in new home: tips on a new LLC?
Hello, I recently built a home with a segregated portion that I am about to rent out (July 1). I am looking feedback on my strategy. Do I need to find a RE attorney and CPA for this, or is it fairly straight forward? ...
Colton D Lawrence
Creative ways to Improve Debt-Income to Qualify for Loan Approval
Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...
Adam Aust
What counts as rental income for tax purposes
I’m preparing to buy my first rental property soon. My question is about the taxable portion of the rental income, specifically, money that is set aside for repairs, vacancy and capX. Is that money considered as incom...
Ryan Proffit
Private lending agreement and tax implications
Hello team,My partner and I are currently trying to purchase a value add 8 plex. Our banker will let us do 80/20. We are currently at 15%. I recently found a family member willing to loan us the other 5%. I was thinki...
Austin Mulhern
Issues getting 46k mortgage loan due to Self Employment
Self employed in the film industry, grossed about 140k last year. Trying to get a 46k loan through my credit union to buy a house off of my dad.Bank just denied me, due to my Schedule C reporting a loss and apparently...
Aaron Marx
Cpa says I have to paymyself through my mmllc?
My wife and I just bought a duplex in the state of Iowa, we set up a mmllc to put on title of said property. I called a friend who is a cpa, he told me I would have to pay myself, which would mean extra taxes.( The pr...
Simmie Douglas
Buying owner financed house with SD-IRA
I recently opened a self directed IRA and have planned to buy real estate with financing from institutions that specialize in IRA financing. I have found a property that the owner wants to finance $87,500 sales price ...
Neel Brown
Rental/Landlording bookkeeping software or template
I own and manage a duplex neighborhood with 12 doors in Texas. I currently do my own bookkeeping with a pencil and ledgers. Does anyone have any recommendations for landlord software or templates (like Excel)? I am ha...
Dan Shelhamer
How do you manage your cashflow?
I have a question for all of the landlord's out there. I just bought my 1st rental property. I plan on eventually putting my properties under an LLC. How does everyone handle their income? By that I mean, do you se...
Christine Aledam
Time to find a new Accountant?
Hi BP Crowd!This is my first time posting, and I’m seeking some guidance. I currently reside in San Diego, CA, and I am in the process of purchasing two properties in Henderson, NV, in my personal name. My question re...