Laura Renardo
Tax advice for partnership
Hi,
I'm looking for a CPA to give advice on a tax situation in the southwest suburbs of Chicago. I don't know where to look to find the answer to this specific situation: I have partners with an inherited home. They ...
Justin C.
Tax question regarding receipt filing and record keeping best practices
Hi BP, I have 2 rentals that were acquired over the last 6 months... Property #1 closed Dec 2014 and was officially on the market May 1st 2015. My tenant just moved in. Property #2 closed mid Feb 2015 and should be...
Carson Correll
Separating from the Military and Getting a Conventional Loan
Hello, this is my first time posting in here and I'm in need of some help.So, I'll be making an exit from the Air Force here in the next few months and I'll be moving to GA to help run a Bed and Breakfast previously o...
Ben M.
Tax question on rental properties
Since we are taxed on our income from rental properties, how does one usually prepare for this? Let's say if the tenant is paying $1200/month how much of that would be taxed and how does one budget for that? Do other ...
Andrew Le
Overpaying commission on a rental property to receive rebate on f
I currently own a rental property that I am planning to sell this Spring. After the sale of this property, I would like to use the proceeds to purchase a primary residence. I know that this situation does not qualify ...
Qi Ming Chen
Using 1031 exchange proceed for partnership
Does anyone know if it's ok to do a 1031 exchange and use the money to jointly buy property with somebody else or does the owner have to be the same person and no one else?
Arteshia Darby
Why are people so secretive about their private lenders?
There's an old saying that goes something like "A candle loses nothing by lighting another candle". Why is that so hard for people to grasp? Being a real estate newbie I've talked to plenty of people that I personal...
Hesketh Smith
Tenant repairs responsibility!
I have a management company managing my rental
When a repair request is made does anyone out there have a process that you follow to have the contractor doing your repair identify if it’s tenant responsibility
...
Ken Radino
Changing Names on a Deed
Hello fellow BP members,
I have a personal question to ask:
My In-laws own a townhouse close to my residence. My father-in-law just recently passed away to bad health. My mother-in-law wants to add ...
Tuan Dang
flooded home investment property advice for cash out refi
Hi I am looking at a home in a flooded area that is selling for asking price 150k (can probably go a tad lower) tax appraised value was around 300kish ( I know since it has been flooded the value is more like 80% of ...