Account Closed
How do my husband and I pay ourselves in an LLC
Complete newbie here! My husband and I just started an LLC. We are each depositing the same amount as capital contribution so that our ownership is each 50%. My questions are: 1) How do we pay ourselves once we have m...
Nick Donato
Using 10.31 funds to purchase a BRRRR is this possible?
I'm selling a rental I've had for several years now and will profit over $200,000. In addition I have some cheap private money allowing to make a purchase in the realm of $500,000 cash.
My plan is to sell this prop...
Dave Antonelli
Need advice on deal.
I have 4 properties in Bismarck,ND. With the recent oil boom up here, rents have increased dramatically. Oil prices have dropped, but production and trucking havent slowed down and probably wont for awhile.I bought a ...
Danielle Fraser
House with termite damage - how to still move forward?
Hello all,We have our first house under contract. It is located in Mount pleasant and we got it offered at a great price. The house has a older roof and AC but we factored that in with the offer.During the CL100 we id...
Joey B.
rehab sell reinvest profits?
Have a question I can't find an answer to. I just bought a house that I am planning to rehab and sell and hopefully profit enough to pay cash for another with those profits and then rent the second one. This is not...
Chris Mason
Easiest way to be allowed to prepare taxes, especially Sch E?
Hi Tax Pros,I'm a mortgage lender. We kind of have a love/hate relationship, but I'm probably never going to ask you for any sort of letter "guaranteeing" that Sally's business is "guaranteed" to make $X00k/yr for the...
Jorge Vazquez
Benefits of seller financing
Owner financing is like a secret weapon for folks looking to sell their properties after hanging onto them for ages. Instead of selling your place outright and getting hit with a massive tax bill all at once, you play...
Jonathan Santiago
Tax Question: Capital Gains or Ordinary Income?
I just watched a video online of someone explaining why he would never flip a house. He basically said the reason is because if you flip a house it is considered ordinary income tax + self-employment tax which ends up...
Leah Dockter
Converting from a 1031 to a Section 121
If a partnership does a 1031 exchange into 2 rental homes and then decides to distribute them to the partners can the partners qualify for a 121 each? This is assuming each partner lives in a house for 2 of the 5 yea...
Tajinder Kandola
Worth to get a degree in finance and economics?
Is it worth it to go to school to get a degree to help me in my real estate business?