All Forum Posts by: Jon Fletcher

@Catherine Cleveland I priced the application process with 3-5 architecture or consultancy firms. I was a little shocked that the proposals came back ranging from $10k - $25k. I ended up doing a bunch of research online and did the whole thing myself. And we got approved! 

@John Gach I see that you're in Buffalo, NY. Certain cities in New York State are now prevented from raising the rent more than 1.5% per year. It's essentially a blanket rent control. I believe Newburgh, NY now falls under that restriction. Does it apply to Buffalo? 

Is anyone familiar with any non-recourse loan products for a three-family being purchased through an LLC for under $1MM?

My understanding is that interest for a HELOC is not deductible in the same way as interest on a traditional mortgage is. I'd be interested in hearing from others with direct experience with this.

Thanks @James Rolf. I have heard people mention that IRS Form 3468 gets filed on your PERSONAL return. But is there a form that needs to be filed with your LLC return?

@Michael Plaks @Ashish Acharya do you have clients for which you've filed the necessary forms for the Historic Tax Credits? 

Hi @Nicholas Aiola I'm receiving lots of conflicting information on how to include the Historic Tax Credit on your personal and LLC tax returns. Is this something that you, or any other CPA's on this thread, have experience with? There seems to be lots of different forms being mentioned, but not from anyone who has actually needed to file them before.

Are there any qualified CPA's on Bigger Pockets with experience regarding the Historic Tax Credit or Investment Rehabilitation Credit? Would love to hear from you. 

@Matt Whitermore @Bob Obear @Marin Ivankovic@James Rolf

I am fortunate enough to say that I received approval on Part 3 of my application. Does anyone have experience filing the appropriate forms? Form IT-211, Form IT-237, Form 3468? Or does anyone know a CPA on Bigger Pockets that might be able to help? 

Hi @Jeff Zimmerman @Bryan Mills @Emily Dominijanni I am fortunate enough to say that I received approval on Part 3 of my application. Does anyone have experience filing the appropriate forms? Form IT-211, Form IT-237, Form 3468?

Hi @Dave Holman @Emily Dominijanni @Ed Jaroch @Rich Hupper I completed a project and received approval for the tax credit. But I've run into difficulty with how to apply it to my tax return. Have you had any success with this?