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8 May 2024 | 14 replies
Is there anything prohibiting me from doing this tax-wise?
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8 May 2024 | 0 replies
Any insight into Tax liens and deed sales in Louisiana is appriciated.Thanks!
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10 May 2024 | 1 reply
It's 2 properties, single family homes, in the SF Bay Area.Sharing some details that might help inform the decision, let me know if anything else would be relevant.One property fully paid off, generates between $20-30k in profit after expenses (property taxes, hoa, insurance, etc).The other property is our current primary residency and would operate at a loss of about $10k/year.I plan to travel back to the US at least once a year, could that be a deductible expense with an LLC?
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10 May 2024 | 1 reply
Your responsibility to defer all tax is to purchase at least as much as your net sale (70% of the total net sales price) and to use all of your net proceeds to do that (70% of the total net proceeds).How you accomplish that and with how much debt is totally up to you
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8 May 2024 | 3 replies
i bought property at tax sale auction in Dekalb county Georgia, over 12 months ago, now i am doing barment, i published ad news paper, i sent 30 days notices to ex owners and all parties might have interest, and the property now it empty / unoccupied.my question is: if 30 days notice expired and no body redeemed, can i enter the property and start to fix / repair the property, and rent it??
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10 May 2024 | 6 replies
Any income generated from the property, such as rental income, must be deposited into the Solo401K account, and all expenses associated with the property, such as property taxes and repairs, must be paid from the Solo401K funds.
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10 May 2024 | 5 replies
Right now you're earning 5.14% interest on your money, and you pay income taxes on every bit of that $1800 per year.Meanwhile, I won't even consider a rental property unless it pays me at least 10% cash-on-cash return and a minimum of $250+ in monthly cash flow.
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10 May 2024 | 8 replies
The E will tell you 2 things...it covers rental property and what entities flow through to your tax return.
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9 May 2024 | 2 replies
- Have a strong lease agreement in place (consult a solid property manager or real estate agent for examples) and vet your tenants well.- Understand the areas that are most in demand for renters are likely the areas where owner occupants begin to push purchase prices to the point where the property barely cash flows as an investment at first.