Larry Flanagan
Land trust issue
I sold a house owned in a land trust. My LLC is the beneficiary and I am the trustee. The proceeds check is written to the 123 Main Street Trust. The trust does not have an EIN or bank account. I am having trouble...
Tadeh Vartanian
CPA recommendations - Wisconsin
Hey everyone. Just starting out with out of state investing, gathering my team. Looking for a real-estate friendly tax specialist in the Wisconsin area. I live in California, so someone who can work well with out of s...
Tom Server
Write off, no invoice?
I am a first-time property owner, and I just purchased a triplex; I kept the original landscaper. He doesn't send out invoices and just gets paid by zelle. How do I write that off at the end of the year, if i have no...
William Chrisman
when to start an LLC
At what point should a newbee start an LLC at X number of properties, at $x net worth. Or asap regardless of the numbers? And including Why would greatly help :)
Demetri T.
How to categorize cash receive in refinance- bookkeeping
I've got a commercial property we just refinanced, held in an LLC. Part of the result of the refinance was extra cash. My questions seems simple but it is just evading me. As I am entering the transaction in my bo...
Anuj Sharma
We Can't Finance you in Rhode Island
Hi All,Don't you find funny when you receive letter from some financing company that they can finance up to 300k to you for buying next investment property. You spent 30 minutes with them on phone and everything looks...
Account Closed
Sacramento Rent growth leads the nation at 10%, Seattle 8.6%
Yardi Matrix 2017 rent forecast (growth YoY)1. Sacramento 10%2. Seattle 8.6%3. Reno 8.0%4. Phoenix 6.5%5. Tacoma 8.0% NATIONAL 3.9%
Nick Boring
Capital Gains Tax on a Secondary Home
Hello BP and thanks in advance for your help!
From my understanding, secondary homes are not exempt from the capital gains tax, and if you are not renting it out then you cannot do a 1031. However, this client has h...
Mary Jay
Due diligence on No w2 tenants
if a prospective tenant is self employed I can’t ask for w2 verification. So I can ask for the copy of taxes. 1) what tax form should I ask for ? 1099? 2) anybody can fake tax form (fotoshop year 2013 into 2018, et...
Akshay Nihalaney
Feedback on RentRedi
Having terrible experience with RentRedi. Until now I was giving them a benefit of doubt and continuing with them, but should've seen the signs.
I noticed this month (on Dec. 18th) that one of the payments made by my...