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27 January 2025 | 17 replies
We were paying a bookkeeper $450/month, plus the $90 QB subscription to do our books but I felt like we were still having to tell her how to categorize everything so it just didn't feel like we were getting our money's worth.
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29 January 2025 | 28 replies
Brand new to real estate investing and I am looking to complete my first wholesale deal.
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13 January 2025 | 5 replies
@Jaedon Stout Getting into real estate is not for the faint of heart.
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18 February 2025 | 5 replies
This money will be used to pay down some debt I have and also purchase 1-2 additional rental properties.
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18 February 2025 | 4 replies
Consider partnerships or private money lending to boost purchasing power.
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26 February 2025 | 2 replies
Where I sell real estate we have to disclose it on the MLS, and I put it in the contract or an addendum for the buyer/seller to sign.
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9 February 2025 | 1 reply
While I’m not a U.S. resident, I’m super excited to dive into the world of real estate investing in the U.S.
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27 February 2025 | 6 replies
Hopefully someone with tax accounting knowledge can jump in here with more detailed analysis, but I looked at this a bit several years ago...1) You still have to pay the depreciation recapture on the sale decreasing the net benefit of this approach due to the large tax payment in the 'sale' year2) The LLC would need to not be a passthrough entity so that it can be taxed separately from you, so you have to add another tax return cost for the years going ahead3) Taxing it separately from you likely means corporate status and corp. taxation rates which are higher than yours and I've heard many times over the years to avoid titling real property as a corp...Overall from what I've seen this only makes sense in a select few scenarios, which for most people aren't in play.
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25 January 2025 | 12 replies
A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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18 January 2025 | 6 replies
Joining BiggerPockets is a fantastic first step – it’s where so many great real estate journeys start.