All Forum Posts by: John Vietmeyer

Great link!

I’m still confused on the idea of “qualified business income” being a deduction.  I think of deductions being for loses.  

Deduction for sole proprietors, LLCs, and S-Corps equal to the sum of:

The lesser of:

• Combined Qualified Business Income, or
• 20% of the excess of: the taxable income divided by the sum of any net capital gain.

Do the new provisions in the trump tax plan change the pros/cons of holding property in an LCC? I currently hold my properties in my name with an umbrella policy, but am wondering if I should scramble to get them moved given new tax laws.  

Links to good articles on this topic are appreciated too. 

I ended up buying an early version of Lifeproof called ISOCORE that Home Depot has on special for a little over $2 a foot.  I like the product a lot.  It's now allure's top of the line vynl plank.  It is queter than pergo and looks like it will last a lifetime.  

I like the thickness of Lifeproof having a synthetic core.  The other options scare me looking at samples given how thin they are. 

Lifeproof seems very similar to Coretec flooring that has been around for some time.  I like the appearance of the coretec options but they are more expensive than the box store options. 

Still pondering but am close to pulling the trigger on Lifeproof.  Will be for ~1200 sq feet so will be painful if I get it wrong.  

Anyone have experience with the new homedepot Lifeproof vinyl planks?  

Salesman said they are a big step up from the Allure Ultra product.  It is 6.3 mm thick, waterproof core and under layment, and locking joints. 

Pricy at 2.79 sq foot but samples look good.   

I purchased a property last November and put a tenant in with a 6 month lease.  Now that lease is coming to an end and I have good equity in the property.  If I don't find a strong new tenant, I'd like to sell the property and 1031 it into a new project.  

While the IRS does not define a specific timeframe, I hear owning a property less than a year is a red flag.  Is it not worth the risk?

I have two townhouses in Charleston with them.  My contractor said they are fine as long as they are not being moved.  I did have one crack in an unusual cold spell a few years back, but don't worry about them much.  I'd leave them as is.    

Found a townhouse were the HOA is not meeting 10% requirements. HOA covers hazard insurance, landscaping, etc. Price is right in development for investors and area is doing well.

Worth investigating further or run?

Just trying to get a sense of how expensive this strategy is.  What fees have to be paid twice when closing on a property with cash then financing it?  

I know the title insurance can be reissued.  

In Charleston SC we have a limited supply of multi-family units.  Does anyone have recommendations on how best to find land, approve zoning and build multi family units? Particularly duplexes, triplexes and quadplexes.

Are there any books or other resources I can use to get smart?