What's the best way to handle prohibited transactions in an IRA, ie, mistakenly taking monthly lease payments and claiming as income and paying taxes on that income.  What should I do to resolve past prohibited transa...

Hello,I am new to bigger pockets and I recently came across what could possibly be a good deal if the price is right of course. Any tips on deals that involve a realtor? For example, I called for one property and an a...

Ok so I live in a duplex, and rent out the other half.

1. My CPA is telling me we will deduct 50% of the shared expenses on the building the rest is considered my housing costs.

2. I was reading somewhe...

I understand the first half of this strategy... By buying a property in cash, it gives someone the upper-hand in negotiations vs someone using conventional financing. Then when the deal is done, refinance the property...

Hi BPs

Need your help urgently. I am working on my first deal. Actually ARV of house in realist report is $418k and bank accepted my offer of $330k.. (315k was offer amount plus 5%auction charges-17k ) Which was...

For taxation purpose, how would this work? My 'Holding company X' in WY has two LLCs registered in IL, One of them is in active rental - STR, and another holds assets in a LTR business. I know that the 'Holding Compan...

So BP, I need your help. This year has been a real rollercoaster ride. I kicked off 2020 by initiating a refinancing of my rental, this March, right before the whole COVID-19 pandemic. In the beginning  when the appra...

Hello everyone,We are three friends looking to invest in real estate. Our first intuition was to get an LLC but we no longer thinks it makes sense for the following reasons:- Have to get commercial loans instead of re...

Hello BiggerPockets community,I am interested in private lending and looking for trustworthy opportunities to invest money into besides just parking it into a bank. I am seeking this lending route to get myself emerge...

We've put in an offer on a home and the front porch supports are missing. THe seller won't replace them but offered $200. Is this reasonable? It seems there are 4-5 supports that need replaced. A friend estimates they...