How much of your profits are eaten up by income taxes on rent paid each year?? I know you get deductions for depreciation, and maintenance but even after that, it seems like any profits would be eaten up and possibly ...
I am new to this forum and wanted some advice on my situation. I currently own 3 rental properties with two partners. Two properties are in their own LLCs and the 3rd property is an S-corporation. My current account...
Good Afternoon,I have a situation that I'm sure is not all to common , which is a bot why I'm confused as to what to do / my options areA quick rundown of the scenario at hand .....The property I have is a " second un...
Of the several property mangers I have there are 2 that do 1099's differently.
One manages 2 properties and does not issue a 1099. Annually I ask and annually they tell me that their owners just use the income from t...
Hi all,
I am curious to know what the BP community thinks about opening a separate bank account to collect tenant rent. I currently don't want to start an LLC yet since I am in the beginning stages (haven't purchase...
My father passed and his trust became irrevocable. My 2 siblings and I now have separate trusts derived from Dads (we all get a K-1). I want to use some of my inherited funds to start doing some PML and EMD but I do...
Friends/Gurus,Can someone please advise me on how to roll over my retirement funds into a self directed account, who are financial institutions who allow self directed IRA accounts, what are the steps and should i see...
I am looking to buy my first rental house and maybe a vacation home too. A vacation home would be on Air BNB or something.
Would you recommend refinancing and using home equity to purchase a home or using a self di...
Hi, I am new to real estate and I bought a house recently and planning to house hack by renting the basement out while I live in the house for a year or 2 and then move out and rent the whole house. My question is sho...
Hello,I have a 50/50 LLC with my spouse. Obviously that LLC income flows directly onto our personal joint return. The LLC has a separate bank account to keep funds separate. The LLC money has been reinvested in anothe...