Mauricio Duarte
QuickBooks for Flippers - Inventory vs COGS
Hi everyone!Newbie here. Please be kind. I’ve recently formed an LLC with a partner to flip houses. We’ve purchased our first property and the project is underway. I’m a CPA (originally an auditor, now in consulting),...
Account Closed
Should I sell or rent my townhouse?
I'm trying to decide if we should sell or rent our house in Baltimore.-Lived in it for 5 years as primary residence. 3.75% interest rate. Currently paying $1550/month (principle, interest, insurance, taxes). Still owe...
Kelby Schimming
Can I 1031 a "flip"?
Hello BiggerPockets,
Quick Note: I did thorough research on this and keep getting contradicting advice.
I recently purchased a property with the intent of holding it as a long-term rental property. I cosmetically...
Susan O.
1031 Exchange for Joint Tenants
If you are holding a property as Joint tenants. Can three owners sell their current property and 1031 exchange it as Joint Tenants into another property.Do we need to change title to Tenants in Common or anything lik...
Jason Hawk
Holding vs. Flipping Properties
I am located here in Kansas City and curious what you Pros think regards to holding vs flipping properties? What are the advantages and disadvantages?
Christopher Young
Looking for some savy advice about moving a house to a trust!
Long story short my mother has worked as a hair dresser for 36 yrs and its time to retire. Social security is a joke but we have one card to play. Based in NY her primary residence of 40 years has appreciated exponent...
Ryan Collins
Tax Questions - Calling All CPA's
I need help with a tax
question - I bought a house with my father to flip at the end of last year. So,
by government classification we were a general partnership at the time. We
financed the house using a loan in o...
Account Closed
LLC or Corporate, starting investor
Hello everyone, I am relatively new on the RE world and I am wondering what is better, if I should start with an LLC or a Corporation for my investments and also another company that I am in the process of creating. I...
Jeff Harvick
Advice on business structure
My wife and I are getting close to being ready to become real estate investors. She works full time in the oil and gas industry and I run our small business (which is currently for sale).
A little background on our s...
Reece O.
LLC Questions
Hello,
I am not yet in a position to fully use the benefits of an LLC. However, I do plan to use one in the future.
Would it be wise to go ahead and set one up and start building business credit with a secured credi...