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13 January 2025 | 7 replies
Bigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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23 January 2025 | 8 replies
@Isaac Hanai make sure you FULLY understand the negatives of S8 programs, not just the mirage of consistent government rent payments.
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31 January 2025 | 121 replies
The good news is that there are plenty of great CPAs out there including on these forums.We did have a conversation with him, which is why we selected him in the first place.
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29 January 2025 | 24 replies
To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.
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22 January 2025 | 10 replies
Rentals also build equity through tenant payments and appreciation, with profits taxed at lower long-term capital gains rates when sold.
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10 January 2025 | 5 replies
Some companies allow property owners to select tenants and set the screening criteria...We do not - our criteria does not bend.
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22 January 2025 | 8 replies
They have decent rental markets, and there are options where you could get in with a 20% down payment.
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24 January 2025 | 36 replies
Tenants in lower Classes will have lower credit scores, which means higher chance of defaulting on their lease payments.
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11 February 2025 | 29 replies
Does a DSCR loan require 20-25% down payment?
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15 January 2025 | 13 replies
I finally understand that credit card payments are exempt from needing to send 1099's.