George P.
REI fudged the tax basis calculations
ran into a REI investor yesterday and we got to talking about his rental properties (that he apparently sold). he suggested that the last one he sold, was originally converted from a primary residence.his calculation ...
Steven Cramer
First Flip... to LLC, or not to LLC?
Hey all! I'm looking at purchasing a single family unit in West Philadelphia (E. Parkside) for a fix and flip with my father. We're 50/50 partners in the business; I'm a licensed Realtor in PA, he is not. This is our ...
Viral Patel
FEE SIMPLE transaction for donation
Hi,I am planning to do invest in fee simple transaction to get 5:1 deduction. I do know that up until last year conservation easement (CES) was way to go but since now IRS has reduce to 30% of AGI it make more sense t...
Michael Jones
Partnership and taxes
So my friend and I plan on embarking into the world of rental properties and signing a general partnership agreement. My question is if one of us purchases the property and the partnership agreement splits all income ...
Account Closed
Mixing personal funds with SDIRA
I have been thinking about this for a while. Please keep in mind that I am NOT thinking about doing this but am just curious as to how this is enforced. If I have 100K in my SDIRA, bought a property for 90K, paid 10K ...
Doug Dillard
Are local REI club dues deductible
I recently joined a local REI club. The initial cost to join was $500 but to take advantage of additional services and access to individuals to mentor new members, there was a substantial cost. If I deduct those cost...
Joshua Thompson
Can I do a 1031 exchange with my portion of a deal?
I recently purchased a house at the court house steps in Baldwin county Alabama. I purchased it with a 50% partner. After we sell the house can I put my portion of the money into a 1031 exchange for the next deal? and...
Chris Dengel
Cost Segregation - Titan Echo
I was wondering if anyone has actually used Titan Echo cost segregation software. I have recieved quotes to do a cost-seg from a specialist on a pair of FURNISHED 16 unit apartments. However, the way the deal worked...
Bear Geiger
Yet another 1031 exchange question
I am currently working in development of raw land. In short, we by a large piece of land, make improvements, split it into smaller tracks and sell them. At one time I was told that even if I hold this property for o...
John Rickgarn
Solo 401k suggestions
Somewhat off topic but I am looking to transfer my IRA into a solo 401k for better investments and use the borrowing aspect. I have researched and narrowed down to Equity Trust Company and Specialized IRA services bit...