Nick B.
COVID-19 IRA withdrawal
Hello BP,I am considering withdrawing money from my IRA pursuant to CARES Act. According to the Act, one has to qualify to be eligible. Besides the obvious qualifiers such as being infected by the virus or losing a jo...
Account Closed
Choose your suffering
"The Real Secret of Success Choose Your Suffering.Everything you want in life; every goal you want to achieve; every dream you want to manifest: all comes with a price tag.Legitimate success in any endeavor requires t...
Joel Brown
consequences of a rental that you move into after a few months.
So, If I purchase a single family house (that I really like) and I rent it out for a few months (or years) then I move into it. How is that treated tax wise (IRS) and investment wise (It may be in an LLC). I obvious...
Eric Cybulski
What are the consequences of a cashout refi on an investment prop
Here is the situation. I have an investment property worth about 150k and a loan for slightly less than 50k. The property is currently financed at 5.125% int rate. I am considering doing a refi to lower the rate a...
Kevin Lefeuvre
Price Trend in California as a consequence of the new tax bill
The new tax bill limits state and property tax deductions to $10,000 and mortgage interest deduction on mortgages down to $750,000. This could negatively impact appreciation of RE in California. 1) How is this impacti...
Jeff Cliff
Tax consequences with moving back and forth between primary and investment properties
Current situation:
Primary Home: Owned for about 15 years and has appreciated it a lot. I have been renting part of the house on a long term/short term basis and have been showing all income on my tax return and have...
Carlo D.
What would happen and possible consequences if I just pulled the trigger?
I previously posted questions on this channel about lending money on the paperstac platform. Decided getting the licenses to be a lender in different states wasn't worth it. However, my question is, what would/could h...
Sebastien Dessureault
Transfer from C-Corp to individual name
Hi,
I recently transferred the title of a California property from a C-Corp of which I own 100% of the shares to my and my wife's individual names.
I was advised that the transfer would not trigger a property tax re...
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?
Jennifer Lopez
Did I rent an “illegal” room? Should I worry about it? What are t
I figured landlords on Biggerpockets would be most knowledgeable about this situation so I would greatly appreciate any advice on my dilemma/concern. Please only answer if you are an experienced landlord and know the ...