Jeffrey Kreisberg
Bonus Depreciation on Pset Ztime Rental
I bought a home on Cape Cod that is rented out half the year and occupied by me the other half. Am I entitled to the tax benefits of bonus depreciation?
Jim Brandt
Help! Good deal but is this an Investment or 2nd home?
I need some real insight on this subject and look forward to hearing from everyone and anyone they can help me or point me in the direction of someone who could help... thanks again!
I have a friend who owns a condo ...
Rhett Z Begley
Can I do a 1031 exchange on a property that has a HELOC?
BP,
I have a property bought using a 1031 and I’m looking to do another 1031 to upgrade to a small multi-family. I currently have a zero-balance HELOC on it. If I use the HELOC (say, 20k of a 30k HELOC), can I still ...
Aaron Taylor
Trailer for hauling things and taxes
Ok, so I'm thinking about buying a trailer to help haul stuff (mowers, appliances, etc). It would be used for primarily for real estate, but I'm guessing I would use it personally sometimes as well. From a tax persp...
Engelo Rumora
Help Needed! Luxury Condo In Chicago
G'Day everyone,It's your favorite Aussie here.So I bought a fancy condo in Chicago last year for personal purposes and now I'm looking to rent it out.Believe it or not, I have no clue how this fancy schmancy stuff wor...
Stepheni Larson
Tax deduction for rental property using Home Equity Loan
Hello BP. How do I interpret this - "According to the advisory, the new tax law suspends the deduction for home equity interest from 2018 to 2026 — unless the loan is used to “buy, build or substantially improve” the ...
Frederic Smith
Thinking of Selling my Building
I own a 4 family building in the Bronx. I bought the property 9 years ago for $525K. I figure I have about $200K of equity in the property and I am tired of dealing with tenants. I am divorced and need some money t...
Sean Barletta
Personal loans: will the 'Loan Purpose' affect my rate or odds?
Hi all - first time poster here! I am shopping for a personal loan to cover $20k worth of costs for a rehab project. The funds will be used for labor and to help pay some of the mortgage during reno. After reno, th...
Rebecca Pollert
Can a LLC claim properties (in personal name for tax purposes?
My husband and I set up a LLC intending to run our future real estate business through it in 2016. The first rental purchase was done in our own name (title, mtg, etc.) and we did not transfer it to the LLC name (fea...
Ben D.
Tax Implications of HELOC Against Rental Property
Hello BPers,
Earlier this year (May) I obtained a HELOC against a rental property that I owned free and clear. I then combined funds from that HELOC with some of my own cash to purchase another rental outright. Ha...