I spoke with a lawyer in regards to the idea of "wholesaling" properties and his take was to just write an option contract outright rather than create what is essentially an option contract by including an escape clau...

Hello BP,I've been talking with an owner for an off-market deal and they asked me to send an offer letter.  I was wondering does anyone have some type of template to use or can provide some type of example.  Any type ...

I have a question for the wholesalers out there. If you technically have a property under contract during a wholesale deal, why can't you use a 1031 exchange and put your profits right into another property without pa...

I'm about to buy a property that is a short sale. My question is that I'm still debating whether or not to buy and hold or to flip the home. I already have the math figured out on both ideas, but my question is...

When and how do you report a 1031 Exchange to the IRS? I am buying a property and I will flip it after is fixed. Any suggestions? Thanks.

I purchased a 4-plex back in June with an FHA loan and the intent of occupying a unit. upon taking ownership, the unit I was planning to occupy needed extensive cleanup, and I have not been painting and preparing to p...

I am looking to find a tax lawyer in Cleveland Ohio, or hear some ideas how other flippers limit their tax bills.Thanks in advance!

Hi BP,
Quick question, I completed a 1031 exchange on 9/2023 (about 4 months ago). I purchased a 6 Unit Multifamily as the replacement property and put about $150K in renovations into it. However, after thinking abou...

I was pre-approved for a conventional mortgage on a small home as my primary residence. I'm at the beginning of the process and am curious how long after purchase I have to use this house as my primary residence befor...

Hey there BP Tax experts,I have a question regarding taxable income from property sales. I have a CPA that does my taxes but I’m not convinced he’s an expert on the real estate side of things. And furthermore, if I c...