I am buying a house this week that I plan to hold for a while as a rental. I plan on paying cash for the purchase, rehabbing, then refi'ing. Is holding personally or in S-corp most tax advantaged? One issue is most...
Hi BP, I'm currently selling a single family home that I hold in a 2 member LLC with my wife. It was originally purchased under my name as an individual. We are purchasing a 4 plex with the 1031 proceeds combined with...
Hi Guys,
I am new to this group. I have a couple rental properties and I was advised by my cpa to retitle them in my S-corp. He also wants my to have my rent paid to the S-Corp and start paying all of the bills for...
First post after some reading, should be closing on a owner occupied triplex in 2 weeks.The calculations I’ve made deducting vacancy rates and maintenance I’ll have to pay about 200$ a month I’m going to open a second...
I've been operating with 3 LT rentals for a few years now (both me and my business partner are listed on the deeds) and it's been ok except for a few issues like being able to get loans and such (we're both responsibl...
Good morning, BiggerPockets!
First, let me save you the trouble: you are not my attorney nor my CPA and any advice given is for educational purposes only!
Second, thank you for taking the time to respond. The shari...
Hello, I have a friend of the family who has about 200k in a IRA. We spoke the other day and they want to invest in Real Estate since they have seen my success but they are also worried about taking the money out sin...
I have been pondering this tax question for some time. Maybe you guys can help me out. If you own a property in an LLC and sell the underlying property who gets 1031 tax treatment. Do you have to purchase the new asse...
For 1099s issued to yourself for your compensation of an S corp, one has until the end of February instead of the end of January. I saw an ad at BP for processing 1099s but missed who the vendor was. I also called a l...
Hi everyone,I'm leaning towards opening a solo 401k vs a SDIRA, for buying and holding multifamily properties. But I have a question that I would like answered before I can make a final decision.My question is, I unde...