David Limbaugh
Max out retirement before real estate ?
Hello BP family,
I'm a recent grad (<2 years) and have been working since graduation (corporate job). I have been educating myself as much as I can financially, and real estate seems like a really good potential i...
AJ D.
Cost Basis on New Construction
How would you account for appreciation/upgrades to a new construction build from a Cost basis perspective?Ex) Original build was estimated to be $500k, however during the build upgrades were selected such as windows, ...
Angie Cobb
Am I doing the smart thing by renting my former residence?
Hi Experts, I am a newbie to the game and have no clue what I'm doing. Anyway, here goes:I purchased my first house back in 2002 and refinanced it in 2013. The mortgage balance is $77k and the monthly payment is $8...
Dave Versch
Ramifications of investing with a partner?
I'm considering investing with a partner. Here's the plan:Since we each own our own single proprietor LLC (let's call them LLCDave and LLCJoe), we are planning on creating a new LLC (123 Main LLC) for the purchase of...
India Campbell
Attorney & Accountant Recommendation
Hello, I need a recommendation for a real estate attorney and accountant in the Atlanta area (Alpharetta preferred). Any recommendations? I'm trying to setup up tax strategy and determine what type of LLC to setup.
Jacob Wilson
Banking Software + Organization Recommendations?
Hi BP Community,Working towards closing my first deal soon and wanted to make sure I have all my logistics in order as I near that date. I'm planning to have a separate bank account/accounts for my entire portfolio, j...
Account Closed
Are retirement accounts liquid reserves?
I will qualify for the loan if retirement funds will be considered for equity and liquidity.
"List all forms of liquid assets such as personal and business cash, property accounts, marketable securities, 401K...
Guy Yoes
Co-mingling funds: do's and dont's
I set up a parent LLC (not a series) for my properties (each have a LLC). I have a separate acct for each door. Each account has a checking and savings. the savings is for deposit escrow. If I move my rental income to...
Account Closed
Form an LLC in Nevada and operate out of Illinois?
Hello BP,
I'm planning to build 10+ spec homes in state of Illinois over next a couple of years. The plan is to build and rent and perhaps sell off a few as we go along. I have a partner who lives locally and...
Harpreet Singh
Self Directed IRA - LLC
My wife just opened a self directed IRA account with Quest Trust Company. She was told by the attorney that Quest won’t allow her to be the manager of LLC. Attorney said that most other custodians allow that. I got gr...