Ravi Ramphal
HELOC used for 1031 exchange.
Hi, I currently own a property that I would like to take a HELOC in to purchase investment property. Does this strategy avoid paying capital gains due to 1031 exchange ?
Ken Bearce
I just bought my first rental property
I created a company to buy are rent a condo in 2020. I borrowed 120K from a relative to buy this investment property. I bought the condo for 118K and used the rest for make ready. I now have a tenant who is paying me...
Kevin Lefeuvre
Taxing the cleaning fees
Those of you who are in the cities where Airbnb withholds TOT know that the tax applies to cleaning fees as well. That line by itself can be $700 per year for an average property in coastal Southern California. It's u...
Kevin Zou
Does depreciating house on tax return lower borrowing power?
Hey guys,
From what I heard banks normally use your gross income to debt ratio to determine your borrowing power. If I depreciate property value on my tax return to deduct my net income, will that impact my mortgage ...
Joseph Shaggs
tax implications of deeding title to property
Hello! What are the tax implications of an individual deeding the title of a property to a partnership or corporation? Specifically, if the title to a property is in my name and I deed it to an LLC (setup as a partn...
Joseph Hammel
Help! I have too much money!
Did that get your attention? HAHA. So I'm doing a 1031. A few of them actually. I have sold the "selling property" and have closed on one of the replacement properties. I have 3 total replacements On the first I incre...
Greg P.
Taxes on Wholesaling?
Does anyone know what the taxes would be if the assignment fee is $5k? I haven't opened a business entity yet. Thanks
Matt W.
Noob dumb tax question.
OK apologies in advance if this is a dumb question, but I'm not quite getting it. Background, this is my first rental, manage and maintain it myself. In Wilmington, NC. Small 3br/2ba. Total payment is $794 and rents ...
Woojin Joo
how to calculated expected tax savings with first property?
How much tax savings can be expected with my first investment property? How can I do the calculations myself? I pay a lot in taxes in my W2 job, and would like to know how much can be offset.Does the math change signi...
Jeff Anderson
Are SDIRA proceeds tax-free when I am already in retirement?
I am 71 years old and retired. I am taking my social security benefits but I also have savings in a 401k, and a Roth IRA. I've been approached by a local real estate investor to become his "private lender" on fix and...