All Forum Posts by: Travis Buck

I am in a similar situation with 3 properties. I understand that everyone's situation is different. But from a perspective of growing my portfolio, at what point do you cash out to redeploy?  One of my properties is the coveted 2%er and the other is just shy of the 1.75% mark. I have recouped all funds that were invested in both and cash flow $1200 combined. The other is a work in progress. Realistically I could pullout $100k out of 2 and still beat the stock market on my numbers. I could pick up 2-3 houses in my area with those funds and have long term leverage in place. Now with 5-6 units my cash flow would be about $1900 net (not a bad move). But with the market in my area being fairly high, a reset could hurt!  As I am typing this I am drawing my own conclusion... Equity is not a bad thing. Especially when rentals are apart of your retirement portfolio. Yes, you MIGHT cash flow more when funds are redeployed, but you own less of what you already worked for (ie. putting more leverage on a property).

If I sell my home am I bound to receive the US dollar? If I state that I want to receive gold/silver in lieu of the USD do I still pay tax on the proceeds of the sale? Even though the transaction involves trading assets. Please don't make this a crypto convo!

I am looking for a local RE attorney to set up a series llc

I would try Mr Ciro with Alpha Hi-tec foundation. They have an office off 10/ camp bullis. Or Larry with Avco. His office is Hildebrand/10. Very good work!

Basit Siddiqi I actually got their info from a bigger pockets user. I just wanted to to see if anyone else had experience with them. Thank you for the reassurance on the EA credentials. I read a few different articles and any first hand knowledge is very helpful and appreciated. One thing they mentioned was NOT using an LLC. Instead they recommended an s-corp. It was based on true asset protection both from inside the entity and from outside the entity. Mainly because when using an LLC one can still be named as a defendant personally, because its a “pass through” entity. Whereas, an S-corp is recognized on a federal level therefore it follows a different set of rules. Both have basically the same rules as the IRS is concerned. Obviously there are differences, but most wouldn’t apply to me. Thank you again.

Anyone in the San Antonio area ever used Sherwood Tax Solutions?  I had a good conversation with an EA there. any help would be great. Thank you all.

Paul Caputo Michael Plaks thank Yall very much for the insight!!! I just received my 2017 refund and don’t mind amending it. Michael Plaks is your office still at Hillcroft/Braeswood? I work for HFD and I think I was in your building during some flooding there on the bayou. Please message me and let me know if I can come by your office to get this done!!!!

Michael Plaks I have already filed my 2017 taxes. I depreciated my rentals for the first time on that return. When I file my 2018 return, may I go back to 2014 when I put my first rental in service and get ALL the depreciation that has never been filed before? Thank you all for the knowledgable responses!

I have owned rentals for 4 years now. I never took the depreciation!!! If I go back and amend my tax returns for 2014, 2015, 2016 would that EXPOSE me more to an audit? I stand to get back an additional $2,000 per year if I amend. PLEASE HELP!!!

thank you @Colleen F. and @Dmitriy Fomichenko!!!!!  I spent some time reading up on this and it will not work. I called the admin of our plans and got definitive answers there. Biggerpockets is usually my first stop to see if anyone has first hand experience with what I am doing. THANK YOU ALL again!