Brian Morreale
First was by accident, the second was on purpose
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $180,500
Cash invested: $45,125
My second property purchase. Side by Side duplex purchase with one unit vaca...
Mark Lynch
Can I attain a 203k loan for investment purposes
If I we’re to attain a 203k loan for my personal residence. Buy something distressed, use the loan money to purchase and rehab. Could I refinance on that loan after 6 months to a year and pulls out the equity after ge...
Terry Yee
Rental Properties in LLC for new tax bill purposes
Hi, With the new tax bill treatment of income from LLCs, should I put my rental properties into an LLC(s)?Would the rental property income be taxed at a different rate than a W2 ordinary income rate? Or would it pass...
Miles Stanley
Need a good Phoenix AZ Agent - non-investment purposes
Hi all,I'm looking for a good real estate agent for my mother who will be moving to Phoenix in 2 months. She plans to visit there in the next couple weeks to begin searching for a home, so i would like to connect her...
Robert Hastings
can i change my business purpose with the IRS?
my business is ABC Proeprties LLC. i have been up and running for 2+ years. i own 5 properties and they all are performing well. i am scoping out my 6th property and hope to close before summer. when i started the ...
Uri E.
Cost segregation for the purpose of expediting depreciation (SFR)
Hello,
I buy, hold and rent out single family residences. Each new acquisition I then depreciate using a standard straight depreciation - total cost of land improvements. I recently learned that I could expedite some...
Ellie Narie
How do you "define" primary residence for FHA purposes?
Could you live in an FHA property for 6 months and 1 day and still have it count as your primary residence? As in, spend 6 months and 1 day sleeping at the property, and the other time of the year not sleeping there, ...
Felix K.
Is it an Investment or Business for tax purpose?
I bought an investment house, closed on 12/31/2019, after fixing it up, sold it in mid June 2020. On 12/1/2020, I bought another house, and it's leased out since.On my 2020 tax return, should I report the 1st house a...
Claudia Becerra
Advertising for rent during renovations for tax deduction purpose
I once read an article here recommending to advertise your property for rent prior/during renovation in order to be able to deduct those expenses during that same tax year. I cannot find it. Can someone please refresh...
Account Closed
Third party painting quotes for your clients budgeting purposes
Had a quick question for the agents. I work for a painting company and estimate/execute jobs for customers moving into new homes.
My questions for the realtors is the following. During the home purchasing process, ...