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3 February 2025 | 79 replies
Do you not have taxes?
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4 February 2025 | 17 replies
Since the loan is still in your name, you can deduct the interest you’re paying to the lenderon your tax return...
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30 January 2025 | 10 replies
Approximately 6-8 weeks ago my attorney stated he was unable to get the delinquent tax 'owner' nor the squatters served in this matter.
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15 January 2025 | 13 replies
Have also used list source and prop stream before but the data they provide is very similar to what I pull off the tax records through CRS Tax.
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29 January 2025 | 4 replies
Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.
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13 January 2025 | 8 replies
Options like a unique amortization schedule or a 3/2/1 or 2/1 stepdown interest rate could provide initial relief to get you through the renovation phase while giving the seller confidence in a structured payoff plan.To determine an entry point, consider reducing the price based on the current NOI.
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5 February 2025 | 2 replies
Your actual property taxes alone on that will be over $10K a year in 2025 and don't forget about that supplement tax headed your way.I would suggest keeping the others and maybe changing to LTR if that will give you consistent cash flows.
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29 January 2025 | 15 replies
I would search the BP forums because your tax / legal related questions likely have already been asked.However, it doesn't hurt to still ask the forum what your questions are.
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3 January 2025 | 11 replies
That said there are some nuances and requirements to property implement interest tracing so ensure you talk to your tax professional ahead of time and keep the funds movement as clean as possible.
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29 January 2025 | 11 replies
Typically they would require your numbers up front, rehab with a schedule of "draws".