Hen Ley
Taxes for flipping in LLC vs. personal name?
Is there a difference in the tax consequences for flipping in a single member LLC vs your personal name? Any suggestions as why to do one over the other?
Cody Worden
Having issues with my current mortgage application, what can I do?
I recently got pre-approved for a mortgage, but now as I had an offer accepted, I am having issues getting final approval. My current gross income is $5,120/mon but part of it is from my GI Bill which traditional bank...
Brian Wilson
Job Change Impacting Loan Qualifications
Hi BP!I know typically lenders want verifiable employment for at least 2 years to qualify for a loan. If you lost your job, and then gain new employment at a higher salary within the same industry a few months later d...
Rusty Hitt
Should I partner into a flip?
So I move back to the US in 4 weeks and have money saved for a down-payment on a Multi-family buy and hold (60k), but I may have some serious problems financing as I will not have 2 years of employment history. My que...
Rob Robertson
Can I still qualify for a mortgage?
I have a question regarding qualifying for a mortgage. I finally got my FICO scores high enough to qualify for a mortgage (fico is 645ish across the boards) but here is my dilemma... In August I left an employer of th...
Sanjeev Advani
August 2024 Payroll Insights: Job Market Resilience Amid Economic Adjustments
August 2024 payroll numbers continue to show a resilient job market, despite revisions expected to push the data higher, following a trend seen in previous years. Economists note that job growth in typically underrepo...
Ben C.
S-Corp or LLC for flips?
Hello,
What are all my flippers out there using as their entity for flips? S-Corp or an LLC?
Can you list the pro and cons of each for this specific application (flipping)?
I have heard S-Corp you can potentially ...
Robert Reineri
Solo 401K Loan Question
Can one take a loan from the Solo401K in the current year, and use a distribution from the SoloK to pay back the loan in a future year? For example, if I borrowed $10,000 this year, made payments each month until 2019...
Kumar Gaurav
Living in NJ remote work in CA pay tax in both states?
Hello,My employer is in CA and I worked remotely from NJ in 2020 , I also own a multifamily in NJ and earned rental income in NJ. Do I owe taxes in both states even though I did not live in CA?Thanks
Bob Malecki
Solo 401k income as facilitator on FSBO?
I'm selling one of our apartment buildings owned outside of our retirement accounts to another investor as a private sale with no RE agents or commissions involved. We own the building in a LLC, lets call this "LLC A"...