Victoria Hunkin
Total Loss due to Fire
Hi,Wanted to get feed back on my situation. My rental property caught fire Aug 31 in Kentucky, it is a total loss. It was vacant and no one was hurt. The problem I am having is that my lender is making me pay off the ...
John Mcdaniel
How to pick most favorable state for incorporation
Currently in the process of purchasing a residential REO in NJ, but intend on buying property in Florida over the next several months, as well. The plan is to form an LLC, and as we are doing business in both states ...
Zachary Himes
Cash out an investment to pay off student loans - Avoid Cap gains
Here is the situation:
I am 20 years old, I invested in bitcoin at $7000 a couple of years ago, I'm planning to cash out soon in order to pay off my student loans (64k total between both me and my fiance). Me and my ...
Christopher Lee
Buy & Hold Partnership Taxes
My partner and I are getting close to buying our first buy & hold property and I wanted to know how we should handle paying Uncle Sam his cut. At first I was sure setting up an entity would be the most logical rou...
Shawn Torsitano
Pass Income to Another Business to Buy Investments. Tax Evasion?
A friend and I are both starting our own painting contracting companies, and something we were both thinking about doing with our profits, if we are good enough to make high profits, is invest in real estate. But we'r...
Talha Qayyum
STUCK IN A HORRIBLE SITUATION
Hey BP! I recently ran into a problem where I have a property under contract that I am wholesaling, but there is no way for me to show the property to my buyers because neither the owner or the tenant are willing to s...
Maryna DeMasters
Property with contingency
I’m facing a situation with the property. Have you encountered instances where it looks like occupants are unwilling to vacate a property for sale, but attorney-in-fact who is selling property is assuring that the pro...
Christopher Dunson
Apartment Syndication differences with and with out RE licence
I have recently completed my first 8 unit BRRRR, and will be moving the primary focus of the business from flipping, and small multifamily to apartment syndication. Recently, I took my RE license test for the state of...
Arthur McCormack
Increase rent or transfer water and sewer - which would you do?
I'm 1.5 years into my first rental and the tenants leases will be renewing 4 and 5 months respectively (it's a duplex). I made some dumb mistakes when I first started (didn't go on BP and learn first), so based on wha...
Onyedika On
Property Manager Woes
I have a property manager managing a couple of my properties. There is a need to evict a tenant who has been oweing various amounts of money since they moved in in Dec 2017. Property manager has finally gotten a judge...