Steve Legnaioli
Rent paid Dec.31 for Jan. Goes on what years taxes
If a renter deposits rent on December 31 to cover rent for January of next year, what year’s taxes will the money land on ?
Inderpal Chadha
Taxes for Syndication Sponsor
A sponsor in a syndication who receives 20% equity without any investment is taxed on receiving equity or only on sale of the asset. For example in an LLC has five members with 20% stake, and four only invest cash cap...
Danielle Watson
What is a Receiver for a Default Property?
Hi all! I am a newbie here...My name is Danielle Watson, Director of Communications and Client Relations for David M. Frank, Court Appointed Receiver, a Commercial Real Estate Receivership and Property Management Comp...
Jill Mathis
Former PM charged rent after contract terminated
I terminated my Agreement with my former PM on February 27th, asking to cancel immediately or consider this message my 30-day notice. They acknowledged to my new PM that they received my notice and wanted their 30 da...
Account Closed
How to protect yourself in this business of landlording.
#1. Put everything in writing, no matter how silly it may seem, put everything that happens in writing. When a tenant called office regarding any matter, I sent them a letter the next day. Dear……. Thank you for cal...
John Anderson
After almost a month, Lender Will Not Provide Payoff Amount!!!
Hi biggerpockets,Looking for some advice here. I purchased this home subject-to this past summer. The mortgage was pretty far behind, but even so it was a pretty decent deal at the time. Since it didn't make sense t...
Joe Gee
Finished Fix and Flip, not sure how to calculate profit
I have a fix and flip completed and sold today but I am not sure how to calculate the actual profit. The cost of the house was 210k I borrowed 34k for the rehab. I would use my own money then the lender would fund it ...
Paul Stanley
Is Prince Frederick, MD off the 4 Hwy a good rental area??
I live in & currently rent out props in NY, however I'm interested in purchasing a property off the 4 hwy in Prince Frederick, MD. I'm not sure how easy it would be to find tenants for the property. Should I run...
Robin Hines
Real Estate Attorney--Cleveland, OH
I am seeking recommendations for a real estate attorney in the Cleveland, OH area. To provide a brief summary, you know those emails you get about doing short-term private lending secured by real estate as an easy, pa...
Bryan Price
Hard Money Loan Past Due (any red flags?!!!)
Hi All,I signed a promissory note secured by a single family home that a real estate investor intended to flip. The real estate investor has advertised on this site, and continues to advertise joint ventures and priva...