Michael Overall
Utilities and Interest during remodel Basis or year deduction
21 January 2025 | 10 replies
The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.
Christopher Espinoza
Newbie wholesaler taking action
3 February 2025 | 0 replies
I believe that strong relationships are the foundation of success, and I’m always excited to network, collaborate, and grow within the Orlando real estate community.
Dave Chengoue
New Investor in Real Estate seeking for advice and networking opportunities
26 January 2025 | 5 replies
My biz partner and I 100% believe community and building authentic relationships in the real estate space is so important for growth.
Nick Ward
Greetings all! Broker here to help!
3 February 2025 | 2 replies
I have great relationships with a wide array of lenders, I look forward to connecting with you and making magic happen!
Victor Yang
Taking a small loss to save on taxes?
19 January 2025 | 7 replies
Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.
Nicholas A.
How many markets to focus on at once?
22 January 2025 | 9 replies
The deeper your market knowledge, the stronger your relationships with agents, contractors, and lenders, and the better your deals will get over time.
Samir Haddad
Virtual Wholesaling Company
5 February 2025 | 4 replies
I look forward to building prosperous relationships with this amazing community!
Shane Smith
Opinions on franchises
25 January 2025 | 8 replies
Others may have personal experience to share.
Ryan Johnston
Should I sell or keep my long-term rental when it isn't cash flowing?? Please HELP
6 February 2025 | 17 replies
If losses strain your finances, selling might be the best move, but optimizing rental income or tax deductions could make holding worthwhile.This post does not create a CPA-Client relationship.
Brandon Cormier
How did YOU get into your first commercial multifamily deal?
29 January 2025 | 4 replies
More relationship underwriting with local banks.7% interest, 25yr am, 20% downEasier to scale, easier to manage.