Ryan O.
S-Corp Reasonable Salary
I understand as a shareholder of an S-Corp you are supposed to pay yourself a reasonable salary for work performed on behalf of the business. You cannot pay distributions until you first pay yourself a salary.
...
James Stokes
Bought 1st Property, working 3 jobs, with 5 kids under 5 yrs old
Good evening BP,I work full time as a teacher, part time as a behavioral therapist and I am a church musician. I’m trying to 10X my income to buy more properties. Furthermore, I’m married with 5 children under 5 years...
Jordan Williamson
New tenant wants to move in her Fiance with eviction history
What do I do? I have a new tenant that presented herself as "just getting out of a serious relationship", single mom. The day after she signed the lease a guy started showing up pretty consistently. Now only two weeks...
Jon H.
What's your cap rate for mobile home park?
Hi BP, Can you share with me what your mobile home cap rate is? The one i'm looking at is a space rent only and does not own any of the homes. There is also a 1,400 SQ ft stick built home on the property. What is...
Roy Williams
Real Estate Professional - IRS Audit
Hi Folks,
Our friends at the IRS are auditing my 2009 return, mostly because of my real estate professional designation.
I have a full time job and the rentals take up all of the rest of my time and I easily spend mo...
Al Williamson
Do Landlords Have Neighborhood Obligations
Are landlords obligated to contribute to the community surrounding their rentals? If so, do you think landlords in a well-to-do community have less community obligations than owners in low income neighborhoods?
I th...
Austin Hendrickson
Opportunity Zones - new potential PERMANENT tax savings?
Hi Everyone,As a CPA who specializes in real estate I have been doing some reading on the new Opportunity Zones (OZ) passed effective 1/1/18 with the new tax law. While guidance is still a bit unclear and more researc...
Brian Garrett
Leasing a new car (Conventional DTI Concerns)
So I decided to sell my luxury car in order to free up more capital for real estate deals.I couldn't justify having a lot of cash tied up in an expensive vehicle anymore knowing I could be investing that money.I curre...
Jason Mathews
Having Diarrhea - What's that got to do with REI??
Does having diarrhea make one an Expert on Toilets?
Just because one investor, in one part of the country, during a specific time period, uses a specific technique (s) to make money in real estate, does not make him...
Kevin Wang
How to verify income for self-employed? First time landlord needs help!
Hello, I am a newbie landlord and is wondering how to verify income for self-employed people? Tax return? Please advise!