Shelley Marko
Deceased tax lien sale
My friend has passed away and has no mortgage on property and only owes $1200 in taxes for 3 years deliquent The sheriff delivered the paperwork to my house as he used to live next door and he has no heirs. I wanted t...
Candace McCutcheon
Cash or Accrual Accounting?
I have read from several sources that RE investors MUST use the cash accounting method. Our CPA says this is not true. If the state is important, we are in SC. Can anyone confirm this one way or another? To give i...
Matt Fish
Seller Financing, Objections & Taxes
Hi Everyone, let's talk seller financing. I am becoming increasingly interested in asking for seller financing as a way of purchasing residential real estate for flips and rentals. I am curious of those that use this ...
Heather Taft
Owner rejected short sale offer
I recently made an offer on a short sale. This home was hard for me to find listed because, according to their realtor, the seller was embarrassed to be selling the home as a short sale. It was not listed as for ...
Jessica Ramsey
Capitol Gains Question for Reinvesting
My husband and I are very familiar with investment properties- we own several rentals, but are looking to start flipping this year and hopefully make a career out of it. I’m trying to become more knowledgeable on Capi...
Daria B.
Tracking Note Income (capital gain from sale or income)
I have been investing in notes since 2017 and it's been a pretty simple process. Several people in my area invest with a JV that manages the ins/outs and have had good results. We have had numerous discussions in our ...
Joe Kim
July 1st deadline for STR tax in Indiana
I just found out that by July 1st, 2019 it's mandatory to collect sales/occupancy tax for STR in Indiana.It's unclear to me if there are two taxes - sales tax (state) and EXTRA occupancy/hotel tax for each county. My ...
Toben B.
Lease option needs to be treated as purchase this year
I can find many articles on how to structure a lease option so it does not look like a disguised sale, however I want my lease option to be treated as a sale in the year 2012.
Background: My personal house is for s...
Matt Mach
Sales Tax exemption on flips?
Ok, I've gotten one flip under my belt. We closed in 2017, I've already talked to a CPA regarding taxes and he suggested I roll the income and expenses into the same tax year. I've been reading quite a bit about how I...
Kevin Jornlin
Can I Change Short Sale Negotiators?
As a buyer of a short sale property, I just learned that there is a 3% short sale specialist fee, which the buyer is responsible for paying. This fee adds up to $18k, which seems very high to me. I didn't hire the sho...