Nick Baja
What is the purpose of a mortgage broker/lender?
What is the purpose of a mortgage broker? Are there any hidden fees to working with one? Should I do my own shopping to find the best rates or should I seek the advise from a broker ?
Ryan Tortorich
Selling agent insisting on dual agency for liability purposes
My brothers and I don't have an agent because we wanted to reduce any expenses (i.e. agent commission) we could since we are just starting out. However, the listing agent is claiming that she "will be held responsible...
Anthony Arias
LLC's S-Corp vs Corporation selection for tax purposes
Im a newbie investor. Stupid enough to create an LLC on 12-01-14. Now I have to file taxes for that LLC. I have no partners and plan to wholesale properties. Should I classify my LLC as an S-Corp or Corporation? ...
Amnaya A.
Is cash-flow considered a demerit for tax purposes?
My buyer's agent continually tells me that I should not worry about a positive cash flow to back-calculate an offer. Why? Because you don't want to show income (of cash flow) on your tax return, or else you'll be taxe...
David Peters
Hotel Re-purposing Project - Red Roof Inn - Thomasville, GA
Investment Info:
Other commercial investment investment.
Purchase price: $3,800,000
Cash invested: $300,000
Red Roof Inn Motel - Purchased completely renovated but not operational. We will open and ...
Shaun Rowan
Renting a from self owned LLC for tax purposes
My wife and I currently own our own house in our own names. I've been looking in to ideas of how to write off rental income. The way we have the LLC set up, it roles its income directly in to our joint income, Texas i...
Serge Serge
Newbie here, dual purpose real estate - investment/second home?
Hello dear forum users,I just came across biggerpockets and would like to see your opinion on the subject.I am California based (San Francisco Bay area) and can't buy here (more than I already have) since the prices a...
Kat N.
Deduct construction cost from personal income (for tax purpose)?
Hello Biggerpockets community, I am newbie in Real Estate. I just bought a house (in California) under my name using traditional bank loan (so no LLC or Corp). My thought process is that I will fix-up the house. If th...
John Gochangco
Claiming Secondary home vs rental property for tax purposes
For tax purposes... for the same home would you benefit more from claiming no income on secondary home vs claiming it as a straight up investment property? (Just to make it fair let's say tenant pays cash non traceabl...
Matt Beans
Explaining the purpose of the contract to the seller
Hey BP!! I have created a sellers list of vacant properties by driving around, but im a little apprehensive to send letters due to uncertainty. How do i explain what im doing with the property? Do i tell them im bu...