I have been talking to an individual as a propsect for my side business during the last two months. While prospecting for the other business we had been talking about a 3 bedroom 2 bathroom lakefront condo that he...
Hello BP community!We started an LLC last year and are about to file our first return for 2024. We have purchased a property for flip that's currently under renovation. I wanted some advice on whether we need a specia...
Chicago IL, Cook CountyIn mid 2015, a property was quit claimed to me, it was recorded on 2/10/2017 according to the recorder of deeds websiteIn December of 2017, I paid a lawyer to quit claim the property to my bro...
Hi. I live in MA and I am in the process of selling a rental property in CA and trying to fill out form 593-E to avoid paying the mandatory franchise tax since we did not make a profit on the sale. I am stuck on lin...
Good day everyone ! I'm Jason from Melbourne (VIC), Australia. I have some questions about Option Contract when selling a property. The situation is, I specialise in OFF MARKET sites where all my purchasers are Invest...
Hi all,
I have a couple of questions regarding money borrowed from a family member.
First I'm fortunate enough to be having a mother in law who is going to lend me roughly 60K in the next month or so to...
My extended family and I own a vacation property structured under an LLC - S Corp, split between two parties and I plan to sell my 1/2 of the property to the other family member, and utilize a 1031 to roll the proceed...
**Looking for advice/guidance before going to my CPA/Attorney and I know that’s not you.**I own two SFRs in my name. One is in MD and the other in FL where I’m a resident. I want to establish a LLC for asset protectio...
Hello all! :)Someone I reached out to on an off market deal told me that they couldn't sell because they bought the property as a rental in the 70s and didn't want to pay the capital gains. I'm curious if this has com...
I just listened to the recent BP podcast with Dr Benjamin Aaker and Dave Meyer from a couple of weeks ago.https://www.biggerpockets.com/blog/real-estate-1045There was a section where Dr Aaker talks about focusing on e...