All Forum Posts by: LIpeng Wu

 There are a lot of good information. Thanks

Thank you for your reply. It is a great news for me that I am able to file home office deduction and do not need to pay self-employment tax. In section of where to deduct of IRS publication 587 (for business use of your home) , there are only 3 selections, self-employed, employee, partners. Since you submit schedule E for home office, you claim landlord as a partner. Is that right?

I am now figure out the landlording tax. I know some landlord report their home as home office to get partial deduction and depreciation of their primary residency. However, generally self-employment also needs to pay FICA tax (15.3%) , but rental income actually is exempt form FICA part. So I am wondering whether it is legal to claim both home office benefit and free from FICA on Rental income from IRS, or otherwise you have to select one of them. Which one do you choose?

I am also new in RE, and now living in Rockville. Frederick looks a little bit far as real estate backyard for me ( more than 1 hour drive). I prefer to MoCo area. However, the Capital rate of rental of single family house or town house in this area seem not very high, which kills most of benefit if you are not rich in cash. Anybody would like to talk about your policy in RE? I might consider flipping or do fixer upper.

I am interested in your software. Could you give me more information? Thanks

Congrats. I am wondering how do you pay the purchase price. Do you need financing? Is there any problem to get financed on this house, considering its old states? 

Most licensed agents use MRIS. However, for investors without license, how could they get exact information for real estate property? Does anybody have any experience in this aspect?

I am now using redfin to do CMA. But the living area information are not always correct. Some houses are labeled with tax living area excluding basement, while others are using total area including basement. Where can I get the correct tax area information for CMA? Which CMA software is most popular in realtors?Does anyone use cloud CMA or propertyminder?

Thanks 

I just saw the video of Marko Rubel’s unlimited funding as below

http://secret.markorubel.com/?p=99&[email protected]

I believe the creative way he mentioned is to use Sub2 method. However, he also showed the secret to fix the paper by modifing the term. I am pretty confused about that. It seems like he want to use seller financing. But generally house with Sub2 is still in debt and is not allowed to do seller financing. Does anyone know the tricks to fix paper? How could it get around the limitation? If seller financing can be done with Sub2, does the seller need get approval from the original homeowner who is now titled with loan note?

Thanks.

Thank you guys for your information. I just start to educate myself, and Biggerpockets is really a good resource to start with.

@Bill Gulley, Another question, if I want to sell it quickly, I still need to get the consent from the owner who sold to me. Right? Could you send me the link for your post about sub2? I really appreciate it.