Benjamin Ellis
Personal vs. Business Checking Account help!!!!!!!!
Hello BP'ers:I am in the process of starting out as a wholesaler. While I haven't completed my first deal yet, I want to start to set different things up that are associated with my business. I know that I need to k...
Angelo Llamas
Do you need a bank account for every property
Me and my 2 brothers are starting to invest an we are curious as too as we start acquiring more an more properties do you need to have a separate bank account for every property or how do you keep track of them other ...
Christian Weber
Identified first property - setting up the admin
So question - buying first investment property with 10% down conventional
Question - do I buy it in an LLC or in my name with an umbrella policy
Do I set up separate bank account for it
Do I get a separate credit c...
Nate Michaels
Owner-occupied duplex, how to depreciate properly
Hi all, I'm owner-occupying one unit of a duplex and I'm wondering what is the best to report the depreciation if I convert the owner-occupied unit into a rental at a later date. The challenge I'm having is specifical...
Patrick Menefee
How are non-LLC business expenses handled?
I have 2 properties under contract, one in my name and one in the name of my LLC that I just opened. I have a bank account and credit card I’ve been using so far for the one in my name, and once I get my EIN I will op...
Nykkita B.
triplex and quadruplex
Hi. I'm in the process of buying a triplex. One building, three separate units. Everyone i talk to about insurance gives a different answer as to how it should be insured. I will own all three units. No body corporate...
Blake Dials
Multiple Bank Accounts
If I am renting a property of mine just under my personal name do I need to set up a separate bank account and pay the property loan, taxes, insurance etc out of that separate account? Or can i just pay everything out...
Brian Spink
Rent payment
For those of you who have a single family home in your name, use an umbrella insurance policy, and have no LLC, I assume you have the tenant write the check to you directly? Do you have a separate bank account just fo...
Travis Blinkiewicz
Two houses on single lot
I am looking at buying a rental property that has two houses on it, a 3/1 with street access and a 1/1 in the back of the property that only has alley access to it. Both are currently rented. Both allow parking via th...
Chris C.
Townhome to 2 unit questions
Hello folks - I found a rare townhome (3br 2.5ba) that has an additional 1br unit (Kitchen, stove, fridge, living room, etc) above the garage with separate entry. I plan on renting the townhome and the garage unit sep...