Ryan Metcalf
Uses of Loan Proceeds from 1031 Exchange
I am interested in buying a 2 unit commercial property with an SBA loan. I have 1031 Exchange money and my own cash to fund this. In the larger unit I want to open a business and I will lease the smaller unit. Both...
Scott Reynolds
Ways to figure out HELOC amount on a first position lien
Thinking about bidding on a house (for a personal residence), which is somewhat complicated with four liens against it. The foreclosure auction is actually for the second position lien, which was a private business lo...
Adekunle Popoola
Double Closing and Capital gains tax for wholesalers
I am an wholesaler who recently had a double close. i would like to know the following?
-Are my proceeds subject to capital gains tax?
-If so, What portion of my proceeds will be subject to the capital gains tax?
...
Andrew Oladipo
Year End Review - What do I need for Tax purpose?
I have a contractor work on a variety of small fixes when I bought my first and only rental units. Total cost was $1500. Do I need to issue a W2? What other tax information can anyone share.
Thanks
Tom Reay
Short term capital gain on flips
Do flippers get hit with short term capital gains since they buy and sell within one year? How would this be avoided?
Rosalie Taran
Income Tax extension/ Solo401k/ capital gains over 121 exclusion
Hi BP community, My husband and I will be selling our California home early next year and are expecting to have capital gains above and beyond the 121 Exclusion of $500K.1. I have a home business and just opened a Sol...
Mindy Jensen
1031 Rules - purchase price or profit?
I've never done a 1031 personally. Would absolutely get someone qualified involved. That said, I have a client with a condo she bought for $100k and is now selling for $190k. In order to comply with 1031 rules, does s...
Jack B.
Cash out refinance: can I still deduct the full interest of loan?
Let's say I cash out refinance a rental property; can I still deduct the full amount of interest expense on the new loan, or just a portion of it if I don't reinvest the money cashed out? Please post your source.
Wayne Sluiter
Can't figure out how to get to the next step
Hello everyone, my name is Wayne, I live in Michigan, and I am a newbie to BP.com.While a newbie here, I do have some experience in the real estate game.I have two SFR condos rentals that are doing quite well at appr...
Ruel Baliong
Need some financial advice, should I do a debt consolidation?
I just recently made a lump sum purchase on my credit cards and am currently in debt 44k. I'm not having issues having to pay them but I'm starting to feel the effects of the interest. I've always managed to pay my cr...