Robert Niosi
Deal analysis
Hi BP,
Here is a message I received from a seller I'm talking to:
"There may be a way we both can get sort of what we want.
You need your money to fix the place up so income is higher and expenses are lower.
And the...
Peter Schuyler
Paying down Mortgage and the IRS view
I think I know the answer to this, but if I want to reduce my passive income, is paying down the mortgage via extra principal payments reduce my passive taxable income or is it viewed basically as profit? (this is in...
Carlo Michelotti
Need so much help analyzing cash purchase of 2 or more properties
Buyer (me) has a sh!#load of cash burning a hole in my pocket, enough cash for 4 or 5 of these cheap houses. Seller (a landlord) wants to sell multiple houses/two-flats and 1031 exchange them for bigger & better t...
Mark Forest
Capitalize or expense
I have brought this up on other boards, but I still am not sure of the answer. I am a landlord who has acquired some fix up properties which I will lease to tenants. I have not yet made any of the houses rent ready....
Ryan Crowley
Corporations and reducing tax
Hey everyone, like most people here, I have read Rich Dad Poor Dad several times now and am inspired each time I read it. In there he mentions creating a corporation to significantly save on taxes. He references bei...
N/A N/A
Are my calculations correct ?
Hello,
These are made up figures. I just want to see if I am calculating this correctly. Any advice/opinions are welcome.
Thank you.
Bought for 280,000
20% down payment = $56,000 ( $280,000 x 20% = $56,000 )
lo...
Shahn Sattar
Tax Question Regarding Borrowed Money
Hello BP,I am looking to buy my first investment deal and I had a quick tax question for anyone that might be able to help. I have been pre-approved through the traditional means (20-25% down) but I have been recently...
Ducote Kiernan
Investing regular income into my rental LLC is that a deduction?
I just purchased my first 3 rental properties with 2 mortgages. If I pay all of the expenses with my regular 9-5 income does that count as a tax deduction? And if it’s not what is it?
Nick Scannell
House Hacking First Duplex - Should I set up a separate bank account now?
TL/DR - I bought a 3.5 down FHA Duplex, I'll be living in one side and renting out the other. I still need to pay towards the mortgage, but I'm saving money compared to renting. Do folks recommend: 1. Just deposit ren...
Alessandro Pascucci
🏦 Income taxes question
Good morning everyone,I have a basic taxes question for you today:Assuming my gross rent income is1000$/ month and based on accurate research I can plan a total of 500$/month of expenses (small repair; big repair; cap...