Hello!Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciatio...

Hey all,I'm finally at the point where I'm going to file for my LLC. There will be four members (all close family) involved. I'm in Illinois and the cost to fill out the paperwork myself is $500. My CPA will do it for...

I am considering forming an LLC just to hold residential real estate for liability protection.  I would quit claim a deed from my personal name to the LLC.-When I sell the property, would I be paying a tax on the prof...

Hi, my name is Austin Bull and I'm a new REI from Arizona. I'm 26 and work an hourly job as a mid-level plumber. The hurdle for me right now is that with my pay rate, I can only get pre-approved for a little less than...

I am a first time user of Bigger Pockets but have a question that I cannot find an answer to by other means. I decided to see if anyone here could help me. My husband and I live in AL and own a condo in FL that we ...

I live in California, and have recently closed my first few real estate deals in Wisconson. I want to create entities to protect my personal assets from consequences of the real estate business.
As I understand it, ...

Ok so I lucked out with a 2 family purchase in 2012 in Somerville, Ma. It continues to appreciate and there is promise of a T stop going in at the end of 2016 which will drive things up even more. With some renovation...

Hey guys,Today, my first very motivated seller came to my inbox! I'm hoping you guys can help me analyze the deal.3 bed/2bath 1600 sq ftAsking: $90kLoan Balance: $90kARV: $95kCurrently Monthly Payments: ~$600 (said he...