Benjamin Wallace
Rental Property Income - Tenant Improvements and Reimbursement Through Rent
Hey y'all. I have a tax question regarding how to report my rental income when my tenant made and paid for improvements and I am reimbursing them by lowering their monthly rent.
When I signed my tenants into a year ...
Bienes Raices
Paying personal credit card bill with LLC check
I'm getting my tenant credit reports, etc. from a company called Quick Check. Quick Check does not have technical capability to have more than one user credit cards on file so that the user can charge different report...
Fred Sams
Need Clarification on Apartment pro forma
Reviewing a deal I received from a broker "16 Unit Apartment Bldg". In the Five Year ProForma, The Seller is reimbursing the 1st year management fees which is about 10 % of the net rental.As well as the 1st year HOA F...
Greg D.
Deduct state sales tax on a flip?
I sold an investment property in 2015. Maine withheld a 2.5% non-resident tax at closing. Can this expense be deducted / added to the cost basis?
Michael Plaks
Recordkeeping for a mixed business/personal trip
This is a partial FAQ for a very complex topic that has a lot of possible twists and complications. Maybe it will trigger a discussion leading to a more complete FAQ.Here is a scenario. Harry goes on a weeklong trip f...
Kyle Meyers
Accrued Property Taxes Effect on Cost Basis
I am sure this is a pretty basic question with a straight-forward answer, but I have thought about it too much and gotten myself confused by my own thoughts.
When purchasing a rental property, it has been standard f...
Eli Shicker
How are Closing Costs / Attorney Fees covered?
Hi,When syndicating an apartment building, who typically covers the attorney fees and closing costs? Does the syndicator or is that a fee paid out by the investors?Thanks.Eli
LaToya Morris
Lender Demands Payoff 3 Weeks After Closing
Hello everyone,A client closed on a cash-out refi on 12/26/23 and we received the final settlement statement that morning. The lender's payoff amount was good through 12/31/23. He used a hard money loan for partial pu...
David F.
Renter's insurance Inquiry
I have a tenant who didn't have access to 1 room because of repairs that needed to occur. As a result they have requested rent to be pro-rated for that month. They are required to have a renter's insurance policy in...
Dewayne Perry
What ratios to look at for loaning private money? LTV, LTC?
I'm wanting to get into PML. I understand the after repair LTV should be no more than 65-70%. But I'm more confused on the LTV prior to rehab. Let's say a property cost $300K and needs $150K for rehab so total cost $4...