Mario Hernandez
flip and sell or refinance and rent
Purchased a 3 bed, 1.5 bath house on .25 acre lot. Pasco county, FLpurchase price 35k. CASHrenovation cost 10kARV 100k-120kEstimated Rent $1k-$1,200I have two different routes I'm thinking of going with.1) Debating w...
Glenn McCrorey
What do Flippers do with the profits?
When I watch TV shows about flipping houses and the big profits they make, I wonder if they are paying taxes as the go, or using 1031 exchanges on every one. My wife is a realtor and about half of what she makes goes...
Shane Smith
Putchasing equipment for an LLC and writing off
Im a member in a 50/50 partnership LLC that flips homes. I have shifted gears from real estate podcasts and books to advanced tax books. I consistently hear that the rich tax savvy individuals buy property and equipme...
Andy Basler
Anyone combine business trips with personal trips?
Hello group,As I grow my business and become more in love with Rentals, I thought about looking at other markets in areas that I also like to visit. I assume I can count these trips as business trips if I have the pr...
William B.
Is it possible to create an LLC for a husband and wife and not pay self-employment taxes?
Hi BPers-I want to create a business name that is separate from my wife's and my name. I primarily want this to serve two functions - 1) so our tenants do not know that we are the 'big, bad landlord' and 2) be able u...
Scott Anderson
Selling Investment Properties to buy Primary Residence
Hello All,I am in the process of making a large move, and was hoping for some advice from the community. I currently live in PA, and have 2 investment properties in other states.. One property I rent out as a vacati...
Aaron Lippiatt
How do I report income tax on interest earned from promissory note w/expenses?
If I earned interest on a promissory note, but incurred expenses to loan that money, how do I report that?I loaned money to a real estate investor who then used the money to fix and flip a property. He gave me a promi...
Bruce W.
maximize 401k contributions?
I have been contributing the maximum to my 401k account, including the catch-up contribution for those over age 50. My contribution far exceeds that needed to get the maximum company match.
I wondered if this...
Paul K. McCoy
Should I Hold or Flip property?
Good afternoon BP members!
I wanted to get an opinion on a current property we have. It's a single family home in a great location that's walking distance to a rapidly growing university.
-year built: 1927
-It's a 4...
Felipe A.
Best way to grow your portfolio of properties? Am I going about it wrong?
Hello! I'm a new RE investor and my strategy is buy/hold specifically in single and small multi family. I'm working on business plan and long term strategy (1 year, 2 year, 5 year, 10 year out) and after using a cas...