All Forum Posts by: Richard Fleming

OK good to know. Question...so if I'm charging $1000.00 for rent and the mortgage is $400.00, which is taxable? The $600.00 as my income or the entire $1000.00? I ask that because the $1000.00 could also be considered income due to it being my business.

Let me make sure I get this straight...Just for example, I buy a house today and rent it out tomorrow. From the day I begin to receive rent from the tenant through the Dec 31, this is looked at as "income"  by the IRS and taxes need to be paid on such, correct? If this could be clarified, it would be appreciated. I've heard a few different opinions on the topic

@Justin Joseph

Just now reading this thread but wow. Very good information. Now I see that its been a year and I was wondering how well Discover and/or BHB were doing for you.

@Todd Douglas not currently looking in Indy. Thank you though

@James Wachob no I haven't traveled to Memphis but I am looking forward to it. 

@Eddie T. I'm actually gonna be moving to the Allentown area of PA. I agree with you in terms of the Texas boom. Already have property in Texas. 

Definitely appreciate the heads up Jay. Currently looking into Memphis and Buffalo markets. 

Hello @Tyler Jahnke

Thanks buddy. I will follow along. 

Thanks Umar

Hello all, Just wanted to first say that I am new to BP. 

I'm looking to begin investing with turnkey rentals in the Indy area. I've heard of a few providers in that market and have done research on a few but I want to know from other investors who I should considering speaking with and who I should avoid. 

Should also be noted that I'm currently working in Afghanistan.