Jason Kenyon
looking for recommended lender for extra capital starting out!
Hello everyone, we have started an LLC and got the EIN number last September for our hopeful flipping business with motivated sellers, but have been coming into roadblocks with getting additional funding. I am needing...
Darren Flater
Should I buy the hardware store in the mixed use building I'm planning to buy?
Here is my question. I'm looking to buy a mixed use building with 6 apartments above a hardware store. I also have an opportunity to buy out the store. Has anyone ever had any experience owning a store? If we buy this...
Ashan D
Tax minimization: Business vs Real Estate ownership
Hi,
I've heard that real estate is a decent tax shelter because it allows for a lot a tax write-offs: mortgage interest deduction, building depreciation, deferring capital gains through 1031 exchanges etc.
I'm less...
Kevin Zolea
Business Cards - Is it okay to use non real estate related cards?
Hi all,This may come across as a dumb question but I figured I would ask anyway... I am new to REI and just graduated college in January. Before I graduated, I made a bunch of business cards that corresponded with my ...
David Weis
Any banks that work with rehabbers?
Down here in the Tampa Bay area, inventory is very low (1.6 months). House prices have risen to the point that even crap homes are going for top dollar. No one is negotiable. Houses are being listed on the MLS and onl...
Account Closed
Investment Property Tracking
What rental tracking software does anyone recommend. I have 34 units now. Starting to get burdensome with all the paperwork. At one time I had quicken and was not impressed or I was to dumb to use it. I am looking for...
Christian Scully
New Tax Plan and Real Estate Investments & Business Structure
Hey BP, hope everyone enjoys the end of the year and has a an excellent holiday season! A friend and I were discussing the new tax plan and how it will affect our respective small businesses and real estate investment...
Lisa Caro
Labor-only renovation / norms on payment & paperwork
Hi! My contractor is requesting a third of total renovation cost as down payment - but I've hired him for labor only (I'm providing the supplies etc). I would feel more comfortable paying a normal labor rate as we pro...
Brandon Roof
Year End Tax Assistance (Flip)
I purchased a home in 2019 to flip. Rehab began in 2019 and ended in 2020 and the home will likely sell later this year. In regards to year end taxes, what, if any, expenses from the purchase, rehab or carrying cost...
Jason Rhine
Question: Quarterly taxes on LLC member income
Let's say I am the only member of an LLC and the business makes 20k through wholesaling in a given quarter. If my marketing expenses were 3k, I suppose I would be expected to pay personal taxes on the remaining 17k...