Eric Barnett
Travel, M&E Deductions
Has anyone had problems with deducting travel expenses associated with looking at real estate properties in distant areas? I'm reading "Tax Free Wealth" right now and am curious if anyone has implemented the strategy...
Eric Fernando
Insulation for house
I recently bought a two family . Live one unit and rent the other out.The house was built in 1940's. I noticed that it is not insulated sufficiently. The exterior walls and attic do not have adequate insulation. Curre...
Kathryn Houk
Cash on Cash: Primary Residence to Rental
I’m working through an analysis for turning my current primary residence (a 1400 sq ft condo) into my first rental property. I currently have a 15 year mortgage and significant equity. My plan is to refinance into a 3...
Edmund Chiang
Real Estate Strategy Risk/Reward - Need Insight
Hi Guys, need a little advice/insight on a potential power move:1) Currently just closed on a 16 unit multifamily in MA by the following method: $250,000 cash and $500,000 cash out refinance from our personal residenc...
Robert Lee
Are there and penalties for selling a house BELOW market value?
Hey there,Say I have a property worth $100k. I want to sell it to a relative/friend/anyone for $50k. Will either I (seller) or the new owner (buyer) incur any taxes/penalties? In an ideal world, I feel like I shoul...
Danish New
Fix and flip question
Hello everyone,
I have a quick question:
What if you are a full time employee (W-2) and have done a couple of flips under an LLC and incur a losses in the current year. Could you deduct those losses against your W-...
Nghi Le
Paying Rent with International Credit Card
I have a couple of international students living at my house. The problem is they don't have a US Bank Account and not enough cash to cover the rent each month (and their other expenses).Last month (the 1st month), w...
Justin Burns
Putting condo right back on market to flip without renovations
I just bought a condo for cash for 205k that is in very good condition but could use a cosmetic makeover in the bathroom and kitchen. As of now based off of everything that sold in the area in the past 6 months it sho...
Xavier Thomas
Wholesaling Tax Strategies
Hey everyone. I'm new to BiggerPockets and something that has caught my attention is wholesaling. While poking around in some of the forums, I came across this: here. Which showcases the tax implications of doing whol...
Kim McGinnis
Buy and hold condo in the University District, Seattle, WA
Investment Info:
Condo buy & hold investment.
Purchase price: $655,000
Cash invested: $100,000
I helped an investor/buyer buy this condo to buy and hold. They will be renting it to their son as ...