Melanie Baldridge
One of the best strategies is this
22 October 2024 | 18 replies
The only food I have delivered is pizza, and even that is rare.
Megan Paquet Nelson
Hurricane/Flood and loss of Business Income
13 October 2024 | 0 replies
I'm self employed, no other "job"I have STR insurance policies that show a line item for Loss of Business Income.
Martin Tirmenstein
Deal is falling apart, advice on Affidavit of Memorandum
20 October 2024 | 3 replies
I'm furious at this point, not only for the financial loss but also for hours upon hours of wasted time and running in circles.So here is the entire point of my post and ultimately my question; In clear language on our executed contract, I have included "X LLC reserves the right to file an affidavit of memorandum on the property."
Gregory Schwartz
DTI: How do different loans effect the debt side of DTI
18 October 2024 | 8 replies
If the business is showing a profit or loss, then that income will be adding or subtracted from the entire income.
Andrew Montgomery
What creative financing method would you use in my situation?
20 October 2024 | 14 replies
Andrew, honestly just keep going.You'll be worth 8 figures soon.Not many people love their jobs, but it puts food on the table and you are clearly good at it if you've been doing it so long.Use some extra income to start getting into RE investing.If you get a seller to carry 15% in 2nd position, you just need a 10% down payment.Its tough to do but everything in life takes sacrifice.
Magda Lipinska
CPA in Austin/Round Rock
18 October 2024 | 3 replies
I saw a prior post where you mentioned having a STR in Texas.you want to have a conversation with your accountant to see if it can be treated as an active property instead of passive.If it can be, then there is a potential opportunity to offset the losses against other forms of income such as wages, interest and dividends.
William Coet
Capital Gains and 1031 Exhcanges For Limited Partners
18 October 2024 | 6 replies
@William Coet, as Jackson noted, there are too many variables to even begin.Two things to remember, any tax losses you utilize to offset incomes, will reduce basis making bigger tax bill in sale year.
Eric Formiller
Property Analysis and Suggestions
16 October 2024 | 2 replies
Residents can pay $1600 for rent and be in nicer areas of Memphis with better food, school, job, and transportation options.
Jessica Phillips
Karlton Dennis Short Term Rental Strategy
17 October 2024 | 14 replies
He talks about how you can purchase a rental property, manage it as a short term rental during the year you acquire it, do a cost segregation study, use those "losses" to significantly reduce your taxable income that year, and then turn the property into a long term rental in the following year.
Mario Casarez
What's Bigger Pocket's view on IG Gurus like Thach and Jake....
24 October 2024 | 55 replies
The $10,000 course helped 90% of the students feel more confident and they gained $80,000 in equity by the time the year was over while the $2000 course only helped 50% gain $40,000 in equity but limited the loss to only $2000 if they didn't do anything with it.