Travis Schmidt
Forming a LLC - physical mailing address vs virtual office
I decided to form an LLC for my future plans to both flip houses and build a rental portfolio. I want the asset protection the LLC provides and the EIN so I can easily apply for a business bank account. I quickly ju...
Daniel Ng
How to handle a dispute with a Utility company that landlord never sign up for?
My friend has a rental property. On the lease the tenants are suppose to pay for the utilities.
The Gas company sent him a termination notice stating that the Gas meter was tampered with, and he has to paid $300. He ...
John Underwood
Loss of business mileage deduction for those with W-2 income
My CPA had a letter in my tax prep documents that says that those with W-2 income can't deduct business mileage anymore.This is the first I had heard of this. I don't have W2 income, so I am good but I'm sure there ar...
Katie Hartung
Negotiating furnishings and decor in an offer for a STR
My husband and I are ready to make an offer on a property for a STR. The numbers make sense. Upon touring the property I realized I would furnish and decorate very similar to the current owner therefore we would like ...
Simon Stahl
Lender wants to force sell me property insurance for the past due to an insurance gap
Hi thereFirst of all, I understand that a lender wants uninterrupted insurance coverage for any property they have a mortgage on. What baffles me is that they are trying to force sell me insurance for the past, when w...
Alesha Irvin
Buying more units
Hi BP family! I bought my first property in 2018 and the last one I bought was in February of this year with a total of 4. Each Time I buy I feels like I’m starting over again… the fear, the anxiety, etc. I really wan...
Alex U.
Umbrella Insurance vs Wyoming Holding company holding California LLC
For your buy and hold properties, to my knowledge there are 2 predominant strategies.1. Keep properties in your name or in a trust, get $1M worth of liability insurance for a few hundred dollars and rent out the units...
Gil Levy
Experienced flippers in the area? I need your opinion!
Hi everybody,
I have been involved in real estate investments for the past year, following a demand from my investors, I began to be interested in the California market with an emphasis on the Bay Area and the East B...
Danielle Chapman
3 out of 4 Detroit SFHs Non-Paying
Hi all, looking for some advice please! About a year ago I purchased 4 homes in Detroit, each costing about $38k, all cash and they are still non-financed. Two were originally Section 8, now only one is (tennant insi...
Benjamin Sulka
Using Chat GPT for Lender Conversations
Hey BP Forums! Wanted to share something interesting with the lending community and get your take on it. I was preparing for a conversation with a lender regarding FHA 203(k) loans. I have a basic understanding of the...