All Forum Posts by: Horacio Gutierrez

Hello,

Say I do some seller finance where I carry a note for $100000 for 30 years at 5%. I decide to sell the note in 10 years will as a seller need to sell the note at a discount and can loose money or even if a seller sells the note a discount he shouldnt looks his principal if he can how should he avoid this, would he have to lower interest and increase the payments before 5 years?

Hello,

How should I record a promissory note for bank loan and private loan for a down payment using the same property as collateral. When I buy the home do I just record the bank as the first position in deed and second position as the private loan as down payment on the same day. Will the bank still let me borrow on fha loan if I borrow from private loan for down payment or the bank doesnt care?

Hello,

If you inherent a rental property can you still depreciate home again or wont because it was inherent and also if you can depreciate what will be new basis of the home is the fair market value of the property when u inherent or the fair market value price of the previous owner who passed away?

Hello,

Can listsource.com let you know a specific home address if it's free and clear or where can I find out that information?

Hello,

Can listsource.com let you know a specific home address if it's free and clear or where can I find out that information?

Hello,

Does the IRS require you to have the original paper receipt for proof of deduction or does can I use a scan copy of the receipt?

Hello,

If someone just flips one house in a year that got sold in 9 months it's that consider a business or investment for tax purposes? I have read that if you just flip one house a year its consider a investment not a business is that correct?

Hello,

Should you have one saving and checking account for each rental property you own? What if you have 70 units does that mean you create 70 banks accounts is there a easy way to keep track of the money and still not mess up the money with each rental property?

Thanks,

Hello,

At home price do you think you stop cash flowing, is it $150k or $200k or more or less?

Oh ok, so business determination is determine by material participation for tax deductions like the the 500 work hours do deduct home office expense and the 750 hours as real estate professional is for claiming losses against your work salary correct?