Julio Gonzalez
Asset Classifications for Cost Segregation
Cost segregation utilizes the MACRS approach. The key is to identify personal property from real property. Tangible personal property identified in a cost segregation study is what allows you to accelerate depreciatio...
Quincy Baker
Transactional Funding for Wholesale Transactions
Good morning BP,I apologize if my question is somewhat fundamental, I'm new to the business and some of my questions will reflect my learning. Q: When using transactional funding to fund the A-B of a wholesale deal, i...
Account Closed
Purchasing Tax Software - Business or Personal purchase
I currently have a single investment property that was in full use for 2019 that was in an LLC. I will be doing my own taxes as I have for the past 10+ years and will be using TurboTax as the software. My question i...
Joe L.
NJ Real Estate License
Hello all!I am currently in the process of obtaining my real estate license and boy is it eye opening the initial out of pockets fees you are required to pay (licensing fees, testing, fingerprints, etc.)What I’m curio...
Aaron Bostelle
Is buying in this city suicide? And other life choices.
The city in question is Reading Pennsylvania. I'm looking to buy my first owner occupant rental property. My experience is essentially nil so let me get you in on my thought process so you can critique it:In no partic...
Melissa Lowery
New Investor Alert
Hi everyone! I am really excited to be apart of BP! Any advice on getting started in fix and flips would be greatly appreciated. I'm currently in the Atlanta area looking for wholesalers and agents. I look forward to ...
Gabriela Rezende
Tax Deductions for the Strategic STR Host or Owner
Short-term rental marketplaces such as Airbnb, HomeAway, and Vrbo have made it easy for homeowners and property managers to market their rental property. Experienced operators know that in order to succeed, you need t...
Dennis Gallof
Setup LLC within the same state as condo or my home state?
I have an LLC for my side business and I know the benefits of having one like protecting / keeping my personal assets separated, being able to write-off any expenses, etc.; however, I'm wondering if it would be better...
Clint Kelly
Job Costing Software for Flips
What software is everyone using for job costing on flips? I know quick books will work but I was curious if there is something out there that already has all the detailed costs input where I would only need to add the...
Theodore Smith
STR Business Sch E & Sch C questions
Looking for some insight, and I realize this may be a bit complicated for this forum, but as I am not a tax professional it may be an easy answer as well. Some basics…
My wife and I own a property with 3 STR on the ...