Helen Mulu
Foreclosed home: unknown residents
Purchased a foreclosed home in an auction, the home is occupied. I do not know if the home is occupied by renters ( which is likely) or previous owners. What is the best way of knowing the names of residents to serve ...
Susan Owen
Tax attorney referral in CA
Hi BP family! Happy new year!I was wondering if anyone uses a Real Estate Tax Attorney in California they would be willing to share.Thanks in advance.
Madison Giese
Deduction/Depreciation on owner occupied
I’m preparing my end of the year taxes and wanted some advice. Can I not deduct or depreciate maintenance or remodel/upgrade costs to the unit I am living in. I am nearing the end of year one as I purchased December 3...
Nicole Pearson
Wholesaling in CA: landrust vs flipping LLC
Hello there.. I am a total newbie to investing and trying to learn as much as possible to get started. is there anyone working in CA that has come across the situation where there is title seasoning and cand not assi...
Jason Wilson
Seller Financed Property - What happens w/ loan when seller dies?
Hi,I have owned a 6 unit building in California for 5 years through an LLC. The property was purchased with seller financing only and a Deed of Trust was filed with the County Recorder's office. The promissory note wa...
John Fong
claim rental income as active
I know i can claim my short term rental income as active income as long as 1. avg rental is < 7 days 2. spent more than 100 hours managing it.
If I have other long / mid-term rentals, does the active business stat...
Account Closed
Form an LLC in Nevada and operate out of Illinois?
Hello BP,
I'm planning to build 10+ spec homes in state of Illinois over next a couple of years. The plan is to build and rent and perhaps sell off a few as we go along. I have a partner who lives locally and...
Emmanuoel Haroutunian
New CA investor seeking advice - who helps with LLC vs trust?
Hi all,I have several questions around how to buy my properties and I want to know what sort of lawyer helps with these kinds of questions (assuming it is a lawyer at all). I want to be able to google a specialized pr...
Tobias Joneses
moving rental property into trust
Please do not post "you should seek a tax professional" I will do this but wanted to know if anyone here knew anything besides "You should seek a tax professional" Now that we got that out of the way, I want to know...
Aaron Moayed
Depreciation & Interest Passive Activities?
If you have depreciation and interest deductions that can’t be used (say your before tax income is only $200, and your int/dep deductions are $5,000), are those unused deductions passive activity losses that are carri...