Rahim A.
Is interest on a HELOC tax deductible?
Hello BP,If I take a HELOC on my personal residence, can the interest on this loan be tax deducted? The funds from the HELOC will be used to purchase additional investment properties.Thanks
Grady L.
Tax question with home equity loans
Forgive me if this has been asked before. I have searched and haven't found anything.
I am trying to figure out all of the tax pitfalls when it comes to using a home equity loan to purchase additional rentals.
Her...
Eric Waterman
Personal HELOC with LLC
If I were to set up a HELOC with my personal residence could I use that to purchase properties to flip under my LLC?
Brian Spink
llc vs umbrella insurance
Podcast 109 co-hosted by a real estate attorney stated an umbrella policy is not enough personal asset protection and that an LLC is needed. However, I have read that on BP a popular theory is that one should form an...
Danny Lyu
My 2 Options: Personal vs Commercial Loan
Hi All,
First-time poster here. I’m currently in the pre-approval process to purchase a 2-4 unit multi-family property. I’ve approached a local bank in Upstate New York offering a 30-year loan with a 10% down payment...
Maximus Decimus
Cash out refi on 4 Duplex properties - what is the limit of properties I can do a cash out on?
I own four duplex properties free and clear and am looking to do a cash our refi for 70% of the current value. I have been researching lenders, however I am getting conflicting statements on the property limit guidel...
Donald Green
Transferring title from personal to LLC
I am a landlord with numerous rentals. All of my rentals are titled in my name. My goal is of course is to limit my liability. Do I need to transfer title of my properties out of my name and into the LLC's name? What ...
Nick Leamon
How Does DTI work within an LLC
Hey there BP Nation,I have scoured the forums for an answer to this question, and I have left more confused than when I started.How does DTI ratio work when you own some homes under your name and some in an LLC?My sit...
Account Closed
Business or Personal Credit Card?
So I have created a DBA and signing up for a Chase Business Checking Account to organize money flow and make filing taxes easier. My question now, if there was an expense/repair that I need to pay, should I use my per...
Carmel Duffy
Can I advertise my rental for a single person?
I have a small sf home for rent which is only 500 square feet.When prospective tenants call me and ask questions, I tell them the place is very small, only one closet for storage, really just big enough for a single p...