Ray Day
Inherited 12 suite bldg needs repair
I'm in the process of inheriting a 12 suite bldg from grandparent. The bldg needs almost 200k in repairs but I know the monthly gross can be at least 8k a month. Not including a restaurant storefront on the property. ...
Aaron Tackett
Becoming a landlord
I currently own my own home free and clear (150k asset) it's close to town and within walking distance of an elementary school, and a golf course. I'm looking for advice as I may have a job opportunity in another stat...
Brad Armel
Inherited a old wood frame house
I recently inherited a old wood frame house that is in very bad shape in Daytona Beach. The roof is leaking, foundation is sagging, with very low ceilings, wood is rotting in certain sections, and the roof is flat. I ...
Account Closed
STR Set up Questions! LLC, furnishing expenses, etc.
Hi, I'm considering converting 1 unit of my duplex in to a STR. I currently live in the unit that I will be converting into a STR. I'll be moving into the other unit. 1. Do I need an LLC in order to claim tax benefits...
Geoff Cavender
Creating a Partnership
Hello, I am about to form an LLC with my friend who has his own contractors business, and I am a real estate agent. Our goal is to start flipping houses now build some cash and then buy and hold duplexs. I am lookin...
Brandon Montgomery
CPA vs Lawyer regarding whether or not to set up an LLC
I am under contract for my first rental. My only question is do I need an LLC and if so (or not), would I need to speak with a CPA, lawyer, or both, regarding this? Thanks In advance!
Bill Schrimpf
Do I need a new CPA - depreciation over 150k
Today my CPA told me that I cannot take the full amount of depreciation on my rental this year because my adjusted gross income will be over $150k. He said we can defer the deduction until we sell the property or AGI...
Saverio Nestico
Should I Enter into The Self Storage Niche?
Looking to connect with any investors that have experience in self storage investments. Looking for feedback on entering the self storage investment niche. I am interested in exploring the option of divesting my inter...
Satyam Mistry
Adding Rentals in a Competitive Market
Hello, I am curious to know how investors are continuing to grow their rental portfolio in a very competitive market. I am in the Omaha market. I have recently started to get more active in networking with other agent...
Jim Viens
Kansas State (Income) Tax Liens
Have a property under contract for $2500. Beat-up place with holes in the roof that needs a gut rehab. Just found out the current owner has about $30k in State Tax Liens filed against him. His only other property is h...