This is the aspect that is often overlooked until tax time (Accountants on here,give me a vote if this is true!)

It feels like anyone who has watched HGTV or has a social media account is now an “investor.”

The extra cash flow that results when you don't have to pay taxes can be used to upgrade the property or purchase additional properties.

For bookkeeping/accounting, we recommend Quickbooks Online.

You need an llc to open a business account right? 

Tax return is different - no specific RE advantages as I understand, let someone correct this statement and this is a one way street - 721 exchange is tax free and your hairs could sell tax free.

Hi NJ investors,
I'm currently working on a rehab in Jersey City (Heights area), and I'm hitting a bottleneck with the administrative side of things.
My GC is great at the work, but terrible at the paperwork. We've ...

Start with one metric: Cash-on-cash returnThis keeps things simple and stops you from drowning in spreadsheets.A solid beginner target is 8 to 12 percent.If the property hits that range after you account for:mortgagetaxesinsurancemaintenancevacancy (5 percent)property management (even if you self-manage) then it’s worth considering.Run every property through that filter first.2.

Whether it was blocked for repairs or family use there is no way other than if the jurisdiction required specific information when you pay city, county or state tax and cross check it.

The expenses covered taxes, insurance, utility (water/sewer only), and I included 500.00 a month for lawn care and general maintenance.I have $65,000 in a high yield savings account that could be used for tenant improvements generated from rents saved in current building and a flip from a couple years ago.