Michael Doherty
Closing on 2nd Duplex Should I set up another account?
Hi all,I am closing on my 2nd duplex in December and want to stay organized. Curious to see how people stay organized from a financial standpoint with tenant security deposits and separate banking accounts. Right now ...
Wilson Pereira
Revocable Trust Setup
For those of you that setup a revocable living trust with your spouse/partner for your real estate LLCs and other assets such as bank accounts, did you setup a single revocable trust or separate trusts? My attorney ad...
Precious Thompson
Mutifamily housing
When you have multifamily units are the utilities bills separate for each unit such as the gas , water , and electric?
Weng L.
How to file tax return if single-member LLC has EIN?
Hihttps://www.irs.gov/businesses...According to this IRS guideline, I am supposed to use SSN to file tax return for my LLC (I am the single member of the LLC). I searched in BP and folks here said single member LLC ca...
Daniel Wu
Considering buying a SFH and converting into an attached ADU
Hello BP fam,First post on BP! I'm on the lookout to buy a SFH in this crazy market and I'm looking to buy a split level home that can be converted into an attached ADU (upper and lower level living) with its own entr...
Mary Jay
Each LLC (entity) files its own tax return
Hi guys,Can anybody explain to me please this...Ive heard from one RE investor, who owns about 300 properties, that his accountant files a separate tax return for each LLC/trust, etc (if I understood him correctly)......
Garrett Tjoe
ADUs and utilities question East Bay California
Hi Community,
Requesting help form all East Bay, California builder/investors experienced with an ADU (Additional dwelling Unit) build. I am self-managing my ADU build in Oakland, CA and have come across a few snag...
Heidi Schmid
6 Insurance Policies for 3 multifamily properties?
Hi, I have 3 multifamily properties in California (2 duplexes and a triplex) and because all the them have buildings that don't share walls, my insurance company writes 2 policies for the separate buildings. If ther...
Justin A Edmonds
CPA's: 1 LLC, Multiple, or DBA's under 1 LLC?
I plan on breaking into the real estate industry with rental properties. I hope to acquire multiple properties. Doing so, I'd like to know what is the best way to go about registering these properties. Should I: ...
Olga Merino
Should you have a bank account for every property you own?
My parents own 4 properties with a total of 37 units. I recently started helping them with the business and I want to help them organize their accounting better. My questions are:How do you all do your accounting with...