Sophie Sawyer
$100k income in W2, but $0 on tax return adjusted income
Can I take out mortgage loan given:
I have a stable $100k W2 income from my employer, but opened an LLC this year and am projecting a loss of $200k in the first year. This loss is expected and not a problem. However,...
Steve Cardinalli
Threatening fines from HOA
I have received a letter from my HOA telling me that I was in violation of having storage items on the side and rear of my house that can be seen from the road and that I had 10 days to comply. I have a chain link fe...
Pesi S.
Condo/Townhouse HOA Master Policy Not having Coverage
Hello,I own a townhouse unit which I am renting in NC. The HOA has informed the owners that the HOA master insurance policy will only cover the club house/swimming pool and the common public areas. It will no longer c...
Andrew S.
House hackinging taxes and standard deduction
Good evening BP community,I'm preparing all my tax documents prior to meeting with my CPA and I'd like to show up to the meeting prepared. Appreciate your time reading through my questions. Last year I purchased a du...
Brent B.
Tax Planning for New Landlord
Hi BP,I began renting my previous single family residence in San Diego CA earlier this year, in May 2019, when I bought my new primary residence in San Diego. I have not set up any type of corporate entity, rental pa...
Mark Tallent
Their Price Your Terms
I have recently heard several established real estate investors mention this, but specifically what does that mean? I understand "their price" but the "your terms" is throwing me off. Is there really that much you can...
David Ripplinger
Video on initial rehab estimates
I'm new to the real estate scene, and I saw this interesting video on getting a very quick initial estimate on rehab costs as you're considering a bunch of deals.https://youtu.be/EtCDWoJVtOEIs what they're saying fair...
Alex Huang
Lowe's vs Menards vs Home Depot Discount Programs
I'd be curious to hear what everyone's experience or thoughts are on the various contractor services / bid programs offered by all the big box stores. Which one do you use, which do you prefer, and what about the spec...
Rachel Trubisky
Final Inspection
Hello!
I've been reading other posts and trying to come up with the best plan. I have a good idea on what needs to happen but thought I would ask for your advice.
We just had our first set of tenants move out. They ...
Robert Jordan
Mortgage Interest Deduction
Hi all. I’m a prospective buyer located in Chicago looking to purchase a 2/1 condo and rent out the second room to a friend. I’ll be able to put 10% down on a roughly $350,000 unit, and will be using this opportunity ...