Francis I.
Buying Flips from Wholesalers with a Different LLC Name
Hello everyone,To active flippers out there with one main LLC (S-corp LLC for flipping purposes), how do you deal with properties purchased from wholesalers that are under a different LLC name (usually named after the...
Nolan Gottlieb
Lending Money as 1st Position tax question...
If I'm wanting to lend money to someone with my private money, for them to purchase or refinance and I'd be recorded as the 1st position lender, would that money be a tax write off? Obviously, the interest I earn from...
Jarrod Willis
Quickbooks for flipping
We have been using an excel sheet for tracking expenses, but need to move to excel for tax purposes and creating reports. QB will set up the account and support for $200/month. Looking for somebody to set up chart of...
Ernie Hogue
How are option fees taxed?
Hi BP community. I searched in the Tax and Legal forum, but didn't see this question answered specifically. I am trying to determine how lease option up-front option fees are taxed. My understanding is that they are r...
Jeff D.
LLC's: One for each property?
Hi there and thanks for taking the time to help answer my question.While researching properties in my local market I've come to see that many properties are owned by LLC's solely dedicated to that individual property....
Joshua Dorkin
The BP Politics and Common Purpose Manifesto
2011 has been off to a chaotic start on the BP forums, as there has been a LOT of infighting, bickering, whining, and battling - especially centered around our political forums.
In the 6 years that I've been running ...
Vijaianand Thirunageswaram
Why Investor friendly Real Estate Agents?
I see lots of post on Investors Friendly Realtors request from investors. First of all, do search the forum before posting it. That's general common sense to avoid duplicate post of the same thing and you will also fi...
Elijah Householder
Room rental income to qualify? (FTHB)
Hi all, hope everyone had a solid weekend! i have a couple quick questions about using rental income to qualify.This is my first (possible) purchase and basically the home price is outside of my range to qualify on my...
Rachel Cox
2nd home owned by LLC
WE have a client that is putting their 2nd home in an LLC, they do not reside in the state of the 2nd home, so this is for liability protection of their investment. Eventually they will retire to this home, my questio...
Mike S
Asking about children on application
Am I allowed to ask about children, how many, and ages? Sorry to be brief but my phone is blowing up on our very first rental and I don't want to violate fair housing.