Katlynn Teague
Buying in a LLC VS a Trust?
2 February 2024 | 3 replies
LLCs are a type of business entity that shields owners from liability for business debts and avoids double taxation while providing for a flexible structure to manage the business.Would you consider one better than the other and why?
DeAundra Dyson
Turn 3 Bedroom house into 4 for Section 8 - Does this go on record
4 February 2024 | 2 replies
Does this raise taxes?
Taylor Zad
Tenant has property in gross condition so we can't show- can we recoup deposit?
4 February 2024 | 4 replies
You may find it hard to collect but you can get a judgement against them which will warn other landlords.You can garnish their wages and tax refunds once you have a court judgement.
Ted Daniels
Flipster software a fraud or legit?
6 February 2024 | 63 replies
You have to just go with what they give you. they charged me right away the $97 (plus tax) then I was like umm wtf?
Crystal Mendoza
Thoughts on subto deals
3 February 2024 | 3 replies
Good - No qualifying for loan, no personal liability for loan, possible low interest rate,Bad - Usual reasons seller willing to sell subject to are to obtain a higher sales price than for a sale requiring new loan, sell a property that doesn’t qualify for a new mortgage, sale an “unsaleable” property, or sell a property in poor condition.Ugly - Almost all mortgage loans have so called “due on sale or transfer” clauses, so many steps are needed to mitigate the risks of lender note acceleration.
Rodolfo Veloso
Need advice about a lender
5 February 2024 | 8 replies
; or-- you wait until that income from your midterm rentals show up on your tax returns as simply "rental income" for at least a year.
Rosy Rodriguez
Pay off HELOC with own money or w/Cash-out Refi?
5 February 2024 | 11 replies
IF (big IF) your not in love with your current house you could sell it, taking equity gain tax free (if 2+ years living there already) and then use that money to house hack a bigger or multi property.
Anthony Dupre
Why would someone sell and rebuy his house way bellow market?
4 February 2024 | 8 replies
Maybe tax or perhaps hoa lien??
Joshua Awodele
Cost Segregation Providers in Connecticut
3 February 2024 | 4 replies
This way, I can take bookings for greater than 30 days and still qualify for the tax incentive.For reference: https://wcginc.com/blog/short-term-rental-tax-loophole/#:~:t....https://www.irs.gov/instructions/i8582Thank you 🙏
Dustin Awtrey
schedule E question
4 February 2024 | 6 replies
While Schedule E is indeed where you report losses on rental real estate, your tax situation is at the level where a professional doing it would greatly benefit you.