Marsha F.
How long did it take you to save up for your downpayment?
Hey BP!Right now I am in the savings phase of my journey and I'm about 1/4th of the way there. I'm taking the basic route which includes budgeting and living frugally to save up for my downpayment/closing costs/cash r...
Tom C.
C Corp acting as GP of an Limited Partnership
I am wondering what the group thinks of a two-entity stucture like this:
Limited Partnership - LP interests owned by individual [Self/Family], and potentially a small portion owned by the C-Corp, if it makes sense to...
Nick M.
How to deduct personal labor as an expense for a rental?
I purchased a rental property in 2009 and had to do major remodeling before it was ready to rent. I do not have an accountatnt yet but planning on looking for one to have my taxes done this year. This is my first ren...
Andrew Clark
How much positive cash flow should you be making off a rental?
How much cash flow should I be making a month off a rental property for it to be worth it?
Sharise S.
First Tenant Turnover Experience
Hello BP,I’m experiencing my first tenant turnover and I’m excited about the process. I purchased both properties with tenants so this is my first time screening and getting the apartment ready for new tenants. The pr...
Mason Haley
Storage Space Mentor/getting started
Hello, I am a new grad from dental school and love the thought of real estate as a passive income vehicle. My debt to income ratio will be low but will my current funds low. Scaling though real estate the storage spac...
John Thedford
Central Air Repair Expenses Seem High!
Had a call stating a central air unit was not cooling. I don't have a specific company for this type of work. Was referred to a company and had them go out. Received a bill for almost $190. That seems like a LOT of mo...
Harvard Hill
I need help determining the right business structure
As the title of the post implies, I need some help determining the best structure for my real estate business. I've flipped four houses over the last year and a half with my business partner and we're working on our ...
Mark Gruetzmacher
To partnership, LLC or Sole Proprietor-Tax Questions
Hello everyone, I have another question to run by you. I am trying to figure out which is the best way to structure this deal and how to do it for tax purposes as well.I am closing on property on Tuesday. My father ...
Shimi T.
Teen Kid's Pay below Standard Deduction - Filing Needed? How?
Throughout the internet, there are too many contradicting responses by CPAs on teen kid's pay for assistance in parents' rental business work. Brandon Hall Vs. Mark J Kohler to name a few. One says that W-2 is needed ...