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Results (10,000+)
Justin Foster How should I outsource bookkeeping?
21 March 2024 | 8 replies
How much tax prep does a bookkeeper do? 
Jacob Bremer Proof read my estimate -
22 March 2024 | 0 replies
This puts us somewhere between 18-27mo pending sale.Land Acquisition: 1M + 50K in closing costsHard Costs:Demo: 50KConstruction + Architectural Plans (survey, topography, permitting included) = 1.6M + 80KPool: 100KSoft Costs:Appliance package: 50KFurnishings: 75KLandscaping: 20KAnnual Carrying Costs (utilities/property tax/maintenance): 45KTOTAL: 3,025,000.00 After speaking with two lenders, it seems the best course of action would be to put 20% down on land for 12mo/interest only.
DC W. Sell or 1031 Exchange?
21 March 2024 | 6 replies
Is there anyway to avoid the normal taxes involved?
Account Closed Selling My Home & Real Estate Commissions
22 March 2024 | 28 replies
They do not get paid until a successful transaction is completed.The "6%" you are talking about usually gets split between your agent's broker and the broker whose agent brings you a buyer as an incentive for the buyer to purchase your property (because they owe a commission too and may not be able to afford your property if they have to pay it themselves). 
Jackie P. Selling 25% of My 1031 Exchange
21 March 2024 | 2 replies
If I sell it outright for cash, does it invalidate the entire 1031 exchange or do I just pay tax on the 25%? 
Ashly Frasso Hello BP Team and Investors
21 March 2024 | 4 replies
I'm the Tahoe Reno, NV market where the taxes are lower and more landlord friendly.
Jose Vasquez Dickson CPA Tax Sentry - Any reviews?
18 March 2024 | 15 replies
I’m working with them now for the first time and my taxes are 1 month late so Ive started to collect interest on any balance owed at their fault.I submitted all of my paperwork 2 months ago on the deadline as requested and I haven’t even seen a draft of my return.He’s trying to tell me since we filed an extension we have more time to file but I know that an extension gives you more time to file, but not more time to pay so anything I owe is collecting interest penalties that I’ll be responsible for as I continue to sit and wait for something from them.smh.
Crystal Kennedy Request for multifamily/airbnb tax professional
19 March 2024 | 4 replies
Does anyone have any good recommendations for a tax professional that knows real estate/multifamily/airbnb?
Ryan Thomson Should I House Hack or Rent?
21 March 2024 | 0 replies
Over the span of 5 years you will have paid $77,220 towards rent.However, you're $22,500 downpayment invested into the S&P index fund at our assumed rate of 10.13% compounded annually will be worth $36,236.48Leaving you a net living cost of $36,236.48 - $77,200 = ($40,963.52)Overall numbers after 5 years of house hacking:Expenses include: Principal, Interest, Taxes, Insurance, Repairs/Maintenance, and Private Mortgage Insurance.You will have paid $164,239.76 towards your principal and interestYou will have paid an estimated $20,914 in property taxes and insuranceYou will have paid $5,400 in private mortgage insuranceYou will have paid an estimated $10,859 towards repairs and maintenanceFor a total expense of: $164,239.76 + $20,914 + $5,400 + $10,859 = $201,412.76However, here are the positives to your net worth: Appreciation, Loan Paydown, Rent payments from TenantsYou're home will have appreciated to an estimated value of 560,7812 an increase of $110,782You will have paid down your loan by $26,742Your tenants will have paid $154,439 in total rentThe total benefits add up to: $110,781.87 + $26,742 + $154,439 = $291,962.87House Hacking net worth boosters minus expenses = $291,962.87 - $201,412.76 = $90,550.11(The home equity for year five is calculated using the downpayment + appreciation + loan paydown)House Hacking Vs RentingHouse Hacking net worth after 5 years: $90,550.11Renting net worth after 5 years: ($40,963.52)Leaving you a net worth benefit of $90,550.11 - ($40,963.52) = $131,513.63Here is a screenshot from our calculator on the difference in monthly payments between Renting vs House HackingThe winner is clear.
Alex Nameishi Questions regarding cash out refi on my rental
22 March 2024 | 8 replies
Your refi options depend a lot on how you filed your taxes the last three years.