All Forum Posts by: Marcos Ortiz

I just attended a BP book club session where Anson Young talked about his book, Finding and Funding Great Deals.  As a newbie investor I found the book to be extremely informative and full of useful information from a seasoned investor.  Questions from the other attendees were revealing and helped me gain a better understanding of the author's perspective.  Personally, I took a lot from the marketing section and has changed my strategy to include a more diversified approach in targeting off-market opportunities.  Many thanks to Anson Young and the participants in the discussion.

I've recently established a business where I plan on using a HELOC as a method to purchase property for cash. I'm about to close on a HELOC with my personal home as collateral. Are there any advantages to transferring title from my personal name to an LLC or S-Corp? Would I have the same tax advantages having it in either my name or my business name?

@Michael Plaks thanks for the recommendation

I am starting my REI journey in Oklahoma City,OK and interested in learning more about tax benefits specifically for investment properties acquired under an LLC. I've put together a list of questions and appreciate any feedback at all:

Can you deduct 100% of capital improvements? Would this be the quickest method of tax sheltering in a high income earning year?

Can you begin deducting with depreciation the same year you acquire a property?

Can you deduct the closing costs associated with establishing a HELOC?

Does anyone out there in BP have book recommendations to learn more about tax benefits?

@Forrest Faulconer. Very informative! Thanks for the reply.

@Brandon Just, if you are free this week, I’d like to discuss my investment strategy.

@Nick Peters. Thanks for the additional info and links. Much appreciated.

I work for an Oklahoma City based Oil & Gas company. I've had experience in constructing single family homes for personal residence, purchasing property on a short sale, and renovating outdated residential property. I've joined Bigger Pockets to begin networking locally and learn more about investing in multi-family units.