Hello BP community,As I’m starting my venture in REI listening to all the advice of having an LLC for your properties. This is to project you from any law suits as well as tax benefits. From what I’m told the LLC need...
I’m a newbie in flipping house. I’m familiar with taxes but unsure how to file this flipping business. Do I file schedule c or 1120s? Do not want business attached to my personal taxes.
Hey guys,
I am a new real estate investor and I am trying to save money in every way during our second deal, first rehab. I remember working for a real estate investment group and they mentioned taking the removed fa...
So, I've seen a lot of info on the drawbacks of using a S-Corp to hold your properties. LLCs seem to be the more recommended entity to use. But, it seems by themselves they too can have gaps in an overall Asset strate...
Hello everyone. So my question is the following. We want to created real state company.And go on our own. With the ability of purchasing commercials and real state What licensing or permit needed to start? What are th...
Hello BP Team,I'm in the process of selling my 1st flip via my LLC. I do maintain records and receipts of all of my investment activity for this flip via excel. Trying to understand the Accounting/Book Keeping work n...
A CPA (in prior year) told me that if my rental property has avg rental period LESS than 7 days than my losses can be treated as "NON passive" on form 1065. in this case they go on page 1 of the 1065 and I do NOT comp...
So I currently own one rental property I own and manage through an LLC where I am the sole proprietor. My question is if my sister and I form a new LLC where we are co owners and each own 50% of the LLC, how would we ...
When I did my 1031 exchange I of course put my up leg in the same vesting name as my sold property. It's been 3 years now and I want to place all my properties in my revocable. Zero money will be exchanged. Just want ...
As I'm shopping for a new business credit card, I'm wondering if there's a legal or tax downside to using a personal card as a business card like we did before forming an LLC. Just use it only for business and pay it ...