Account Closed
Starting point from 0
My cousin contacted me about forming a partnership. Collectively, we have about 25k to play with for a down payment. We have ambitious ten year goals, and the ownership of single houses as rentals has caught my eye, ...
Tiffany Da Silva
Advice needed on real estate LLC business banking & Organization
Hello All,I have been investing for the last 4 years in real estate and am on the way to purchasing my 3rd property (a flip :)I am having a hard time knowing how I should organize my incomes, expenses, taxes, ect for ...
Jeffery Waicak
goals aren't good?
I've been thinking about this for a while and would appreciate your feedback. I'll give some examples. Let's say I flipped 4 houses last year, averaged 15,000 on each. then this year's goal would realistical...
Andrew Allen
Buy and hold investor from Austin
Hello everyone, I bought my first house as a lieutenant in the Army after living in an apartment for a year and realizing I was paying someone else rent when I could be paying myself. The interest rate I got (6.75%) t...
Dan Panea
Bookkeeping, Accounting and Taxes
Hi Friends!What do you use for bookkeeping, accounting and filing taxes, as you start up? Of course, as you grow, you need a CPA, but for the first 12 months as you start out, what do you use? Do you use an online pro...
Roy Gottesdiener
Pulling out equity will kill my cash flow but I want to grow my portfolio
I own a rental portfolio that generates around $1,600 in monthly cash flow and has $400,000 in equity. I want to refi and pull some of that equity out ($200-$250k) so I can keep growing my portfolio but I'm not sure h...
Jason Young
Cashing out 401k for rental
Hey BP fam,
Hoping to reach some savvy investors with this question. So I decided to close my old 401k from a previous company. I was going to move it into an IRA.
When I talked with my IRA rep he says I shouldn’t ...
Gordon Starr
Should I hire my own kids to work for me?
Hey everyone,I am a sole proprietor with a steadily expanding buy and hold portfolio. My kids are age 8 (son) and 10 (daughter). As a single dad with sole custody, the kids have always tagged along in some way - somet...
Nathan Gesner
What is the hardest part of DIY management?
There are pros and cons to self-management. Some landlords are very successful. Some lose their shirts, destroy their health, and even ruin relationships. Most land somewhere in the middle.If you have experience as a ...
Tip Lee
How to self manage accounting/ balancing the books for 23 units
Hi everyone,Just looking for some advice on how to manage finances. We are set to be closing on a deal that would put us at 23 units total spread across 3 properties that we are self managing. We will be using Cozy fo...