Steven Cramer
First Flip... to LLC, or not to LLC?
Hey all! I'm looking at purchasing a single family unit in West Philadelphia (E. Parkside) for a fix and flip with my father. We're 50/50 partners in the business; I'm a licensed Realtor in PA, he is not. This is our ...
Michael Batts
Letter of Intent with Multiple Offers
Hey BP Fam! Happy Friday! So, today was my first day driving for dollars. Made a list of distressed looking properties. Skip traced them & Called.3/15 on the list want to hear my offer on their property. I'm now b...
Jeffery Kuhl
cap gains
I purchased an investment property and lived in it whilst renovating. I am told upon selling I will have to pay around 25% cap gains tax(in north carolina). The only way I am aware of to avoid this is to live in th...
Christian Alvidrez
Wholesaling legal issues
Have any Wholesalers on here had any legal issues with contract and that sort of thing? I talked to a couple of attorneys here in Little Rock, AR that suggest not to get into it, he says he actually sues a lot of whol...
Willis Seng
1031 Tax exchange question
Does a property have to be held for a certain time period or can an investment property be sold right away after purchase to qualify for 1031 tax exchange?
Tom Manna
Buy and hold turns to flip 1031??
Hey BP!I bought a 3 family march 2019 and have been rehabbing since, vacant since day 1. My plan was to BRRRR it and keep it forever. Now I’m nearing the end of the project my agent suggested I sell them as condos, wh...
Tim Block
Questions About Tax Reporting on Sale of Property
I have a bunch of questions for the tax gurus here. In 2022 my wife and I sold 2 properties that were held longer than 1 year. My main question was can I list both under a schedule D? Here are both the scenarios and ...
Alex Penalva
Basic question regarding 1031 in NJ.
Hi guys,
So I am new at investing, but I’ve been reading and listening to podcasts on the topics of rentals, and flipping.
This question is in regards to the 1031 exchange, can I use the 1031 to sell property in on...
Hector Test
Can I report zero gain if I build a house, sell it and buy 2 lots
Hi all, I am buying a lot and building a house under an LLC. Let’s assume that the lot costs 50K, I spend 50K to build the house, and that I sell the house for 150K. Within the same year, let’s say I buy 2 more lots f...
John Thedford
Question about Fraud
Paging @Bill GulleyRecently you wrote a post about contracts, citing various forms of fraud such as fraud by inducement, etc. A friend has a situation with an unlicensed broker that appears to possibly be going to cou...