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10 September 2021 | 1 reply
The duplex was recently transferred to an LLC that my wife and I set up.
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11 September 2021 | 1 reply
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Just listed this single-family home in Toledo, Ohio. It's a little rough around the edges but should cash flow. Any comments?
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10 September 2021 | 0 replies
Hello guys,Recently acquired a 2 family.Tenant should be moving in soon.The process went over budget (more than expected).The result is I am carrying credit card debt.I have a plan to pay it down to zero that will work just fine (the avalanche method).I would like to speed up the process though and pay less interest in the process.My credit score has dipped as a result of the credit card debt (to around 624).So may not be eligible for a 0% balance transfer or personal loan.Ultimately I want to get my credit score back into the excellent range for when I refinance out of the FHA loan.Any hacks or tips that anybody could share would be greatly appreciated.Thank you in advance to anybody who has any advice to offer.No canvasing please.
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12 September 2021 | 15 replies
Could be...you won't know until you ask around.Try knocking on some doors and introducing yourself and your intentions...get e feel for the neighbors/neighborhood and the dog situation.
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14 September 2021 | 21 replies
Just know it's 75% of the gross rents OR a 1 or 2 year average of your Schedule E (rental income in your tax returns) after accounting for 75% of gross rents.
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30 September 2021 | 8 replies
Although you cannot transfer a Roth IRA to a Solo 401k, the Solo 401k does offer many benefits over an IRA.
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4 October 2021 | 2 replies
@Eric MillerThe IRS does not care about the loan product that you have.The IRS just wants you to properly classify mortgage interest as a Personal Residence mortgage interest (Schedule A) vs Rental Property Mortgage interest(Schedule E).Best of luck!
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17 September 2021 | 2 replies
Hi, I have a duplex rental for 4 years but I have never set up an LLC, so I claim that as passive income on the schedule E.
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22 September 2021 | 6 replies
Unfortunately, I transfer out of state in December.