It's important to note that only judicial foreclosure sales will eliminate federal judgment liens (other than federal tax liens) in favor of the United States, subject to a right of redemption (1 year).

I'm a rookie investor from NYC who just signed up for Pro membership.I'm looking for someone who can be a study buddy and meet-up info in NYC.A little bit about me:- CPA (not specialized in tax ;p), no professional advice but can help with basic accounting and finance knowledge sharing.- Have been listening to Real Estate Rookie (almost a year) podcast and On the Market (a couple of weeks).- Finished reading "Real Estate Rookie" book by Ashley.- Looking for out-of-state investments, currently looking into Philly.If anything clicks you, feel free to contact me.Thank you!

Do I have to add those $45000 to my income and then I pay taxes and my ordinary tax bracket wiil be the $45000 plus my work income, do I get taxed twice?

Hi everyone,There are couple of ways to value the price of land in depreciation, such as the 80/20 (20% to land) and Using Property Tax assessor's values, or getting an assessment of recently sold lots in the area.I was discussing this with one of the CPAs, and he shared that if the cost of building the house is more than the purchase price, then the land is essentially of no value. 

If you have decent terms on the land with low property taxes, add some insurance and you should still be able to cash flow easily.

I would base my decision to buy more on my investing goals, am I buying for cash flow, appreciation, or tax savings.

I attempted to do taxes (married, filing jointly with my spouse) on turbo-tax.

You will get your own financing quotes, your own real estate taxes, and your own insurance quotes.  

Hey Ralph,Typically if you sell a property or any asset for a gain within 12 months, you pay capital gains tax at your tax rate. 

Is this a Single Family Rental - it can work for sure to start with negative cash flow - but this is a very very risky strategy - especially if there aren't other considerations like tax benefits on a larger portfolio or anything else I'm missing