Hi everyone,My in-laws are gifting money to my wife and I toward the down payment on our first home. From what I've read, it's best to let those funds sit in our account for about two months to show that it is indeed ...
I have just started investing money with a hard money lender. The lender takes my monies and assigns it to individual loans generally on a weekly basis. They select the loans and service the loans. I do nothing othe...
A friend and I both provided half of the capital for a hard money loan used to flip a house. He is a real estate agent and got to list the property as part of the deal. In addition to the interest income I received ...
Is an out of state private money lender taxed twice on the interest income? If so, what are some ways around that. I have someone who is interested in investing in one of my projects who lives in Illinois and I am in...
Hi Guys,
Brand new here, with a question:
Can hard money lending be considered a small business, where expenses can be deducted -- just like any other business? I thought this was a given until I started reading ab...
What are the real tax benefits to the seller when transacting via purchase money mortgage...I can see if the property is not a primary being taxed at capital gains for the sale...but what happens when the seller files...
Hey everyone - Can anyone refer me for hard money loans or bridge financing for tax deeds? Risky business - but was curious if there was anyone in the space. Thanks!
I need to know how would you approach the following scenario.
You have a friend that owes your family some money, so he will be giving you 50k. He has the money in his bank account.
Logistics wise, would it be bet...
Hi, Im a new investor in Charleston, SC and looking for some help from someone who has already figured out this problem. I have read books, listened to pod casts, found deals, and secured a private money lender who is...
I am curious if anyone here does private lending and if so how do you classify your income? is it deemed to be purely passive or can it be offset against losses from real estate income?