All Forum Posts by: Andy Lanyi

@Theresa Harris

Yes, I own it out right. I know you can ask a higher rate that for a house, but just don’t know where to start

I have been trying to sale a piece  of property for a while and got an offer to hold back the first trusted. they offered a 15 year loan and I can set the interest rate. I am not sure what to set it at. Does anyone have any suggestions or resources to get an idea on what to set the rate at?

@Bob Norton

Thank you that is what I thought. I kept on hearing Basis, and I was not certain what that meant.

@Ashish Acharya

Sorry I need to be a bit more specific. The escrow company charges a fee, title insurance, wire fees, messenger fees broker fees document preparation fee.

Those are the ones I don’t know if they are tax deductible and if they are how are they deductible

@Michael Plaks

Thank you for the information I will do my homework

I have purchased a new set of apartments and wondering about cost segregation. How soon should I do it , if at all and how much should it cost? And does anyone know a good company that does it?

I want to have my 20 year old to start learning the business and pay her for doing it. What documentation do I need to do and how do I 1099 if I even have to ?

I am buying a new set of apartments, I trued to look up if I could deduct the cost of escrow. The answer was you have to add it to your cost biases. Not sure what that means. Does it mean you have to add it all up and divide it by 27.5?years and go from there? A little bit at a time?

@Andy Lanyi

Thank you. I know he has mentioned that he has made sales in LA. just did not think to ask him about the hidden costs.