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24 April 2024 | 4 replies
I am currently in the process of eliminating all my debt (about 7000) and then resume my savings.
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24 April 2024 | 30 replies
Most of the large national companies including ours work nationwide.
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25 April 2024 | 2 replies
Losses, including carried forward from RE (tax form 8582) can be used to significantly offset roth conversions in early retirement if you keep income under the threshold.
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24 April 2024 | 5 replies
It is doing much better and has a DSCR ratio of 1.2 now, but if I were to buy it at today's interest rates it would be a seriously negative carry.I'm looking to buy a single-family Subject To with a partner at 500k with a 2.75% underlying loan on almost $400k and it will be just slightly negative at about $-200 a month, but debt paydown is almost $1k a month and I'm sure in a few years the appreciation and rent growth will make it be more than break even.
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24 April 2024 | 42 replies
Is it worth it to go into high interest rate debt for this new project and have this new property impact your other successful properties in your portfolio?
25 April 2024 | 10 replies
But...I ran a client-based business for 25 years and when I ask myself if I really want to do that again—all the business set-up, marketing, value propositions, proposals—just to get some of the joy of property management, the answer is no.The idea of going into debt to buy more properties is very scary, especially at today's interest rates, but maybe I should look more into how to make that happen in a way that would work for us since it'[s what I'm really interested in.Sorry for the off-topic take!
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25 April 2024 | 2 replies
In the section for rentals in TurboTax, there is a checkbox if it was the first year for a rental, including the number of days it was rented.
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24 April 2024 | 36 replies
Get rid of debt, build a budget, and save.
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25 April 2024 | 16 replies
Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.
25 April 2024 | 0 replies
To minimize audit risk, it’s advisable to choose “Other interest” instead of “Mortgage interest” when reporting.Part 2: Forms 1099-INT from Investors to Private LendersForms 1099-INT Explained: Similar to the interest earned on savings accounts, Form 1099-INT outlines the interest that must be included in taxable income.