Dan Brown
Tax consequences if I lived 2 year out of 5 in TWO homes
Let's say I have two homes, and I do not want to pay capital gains tax on these homes when I sell.Let's say therefore I lived in one home for 2 years, and the other for 2 years, all within the last 5 years. During thi...
Derek Bunyard
Paying off a line of credit at closing – what are the tax consequ
Hello BP community,
What are the tax consequences of paying off a line of credit that was used to purchase another real estate property?
Here’s an example of what I’m hoping the BP community can help me answer:
...
David A.
Buy & Hold... But with a tax consequence for selling within 9 years?
Hey, all! I wasn't really sure what to call this post, so forgive me my scatter-brained topic! I'm looking into a few different options of ways to purchase a home once I get around to buying my first one late next yea...
Robert Borer
SD-IRA Tax Handling for Investing in Single-Member LLC
Greeting BP RE tax gurus:I've received a notice from my SD-IRA custodian to report the fair market value of my "investment". I invested in a Single-Member LLC, of which I am the "Single-Member". The single-member LL...
Ibrahim Yamini
Make Investing a Game???
I’m listening to this book; “100 Ways to Create Wealth” and it mentioned something that caught my attention.
It said, when you’re playing a game, you’re having fun because there’s a challenge or hurdle you’re tryin...
John Salgado
Lender increased Mortgage Insurance premium on initial CD
I am in process of closing on my first MF house and recently received the initial closing disclosure. I noticed that the lender increased my mortgage insurance (MI) premium to almost double the original amount. It i...
Alfred Costanzo
Problems with buying properties not fully permitted
Hi Everyone, I’ve been searching for my first house to house hack in South Florida. Not sure if it’s just the market right now but it seems a lot of properties are not fully permitted. As in a Florida room converted t...
Kevin Wyn
Spouse as Member of Holding Company?
Hello everyone,
I am in the process of setting up a holding company for my two current rentals and any future rentals. My question, is there a benefit to having my spouse as a member on the holding company. This is t...
Mischael Metelus
Quit Claim Deeds and Business Tax
Hi, I'm hoping someone could help fill in some knowledge gaps for me. I recently acquired a property through a tax lien and it has now appreciated in value. I've started my own LLC in South Bend Indiana and I'm planni...
Kumud Shrestha
Your Thoughts Flippers !!!!
Last few years have been great for Flips. So, far the market has been favorable for us Flippers, in spite of the pandemic. As we all know, the inventory is low and the demand for homes are high, partly because of all ...