Jason Mead
Avoiding the tax penalty
Hello everyone! I was sitting here wondering what’s the best way to do this. I’ve just completed my flip house and am walking away with a decent profit approximately $50,000. My question is what’s the best way to take...
Frances Regalado
50/50 Profit Split JV Agmt - Should funder ask for loss allocation
Hi,
I wil be the potenital funding/money partner for 50% of profits on a flip.
I've asked for the other partners to assume 50% of the loss if the deal goes south and to write this into the JV. They said...
Randall Hoeber
Balloon Loans Pros/Cons
I am wondering if anyone with experience or knowledge in this area can comment on the pros and cons of balloon loans. In negotiating financing for the purchase of financing my first rental, the mortgage that I obtain...
Susan Herschell
Does holding rental in LLC trigger 1099 filing requirement?
Hoping somebody with strong RE tax knowledge can help resolve this question!! This is the first year we have held a rental property in a multi member LLC (our other rental property is held personally). We self-manage ...
Michael Colella
Transfer property to LLC (no mortgage)
Hello all,
I'm thinking about buying a property with cash in an upcoming tax sale. I'd like to transfer the property to an LLC. Does anyone have any experience transferring properties without financing to an LLC? ...
Erik Kubec
Rents --> my LLC for contract work, LLC $$ --> into Solo 401k
Hey Folks,Here is the strategy I am using. It seems pretty complex.My wife and I have rental properties.My LLC, taxed as a sole prop, has a 401k with another property in it.For the 3 rental properties my wife and I o...
Scott M.
Tax Implications of 6+ Land Contracts
Hey all -
As I understand it one person or company can complete 5 land contracts and only be taxed on the actual payments (installments of say $1,000 / month).
However - if one person or company does 6 or more land...
John M.
Tax Accountant or HR Block?
Hi guys -Looking for some quick advice - Would you use HR Block/TurboTax over a RE Tax Preparer if you were a small "start-up" in 2018? Why or why not? Thanks,John
Dean Chigounis
Can you live in a 1031 property if renting or set up a business?
We're currently living in Maryland but are eyeing property in CA. We likely won't be able to move there for another 2-3 years but have found a house we like. We have other rental assets here on the East Coast that we'...
Brenda Flatter
How you take title is very important!
When investing in real estate for the long run, how you take title is very important! In order to protest your interest and that of your heirs, please discuss this with your attorney and title company!Here are the 3 m...