Account Closed
Tax impact on Hard money - refinance - selling property
Hi, I have purchased a 3 unit multi fam property under LLC (50/50 partnership husband and wife in NJ which is Non-community state) and financed (100%) through hard money lender(personal guarantee). After the rehab was...
Kyle J.
How do you account for interest paid to private investor?
If I get a loan from a friend/family member/private investor, how do I account for the interest on the loan I pay to that investor? I know if I were borrowing from a bank they would issue me a 1099-INT form at the en...
Jonathan Breton
First Meeting - Need Business Cards
I attended my first BiggerPockets event yesterday in Charlotte, North Carolina and it was awesome to meet so many people with similar interests and aspirations. One thing I noticed quickly was as conversations went on...
Ali Senchenique
Security deposit and rental income question
Question about bank accounts. Do you guys keep security deposit in a separate bank account and if so what kind? CD, money market account or just plain bank account? Also for rent, do you open a different bank account ...
Yasser Rodriguez
Short-term Rental Financing
Good morning, everyone.I appreciate all of the wisdom this forum and series has provided in my life. I was hoping some more experienced people can guide me in the right direction I would like to target a 3/2 or so hom...
Venkat Varad
Selling former primary home to LLC
I have a former primary SFH that is fully paid of and about to reach the 2/5 years rule. I have no plan of selling it. I want to convert it into an LLC to offset the capital gains. I was about to start an LLC, but few...
Matt Gooding
Looking for input from fellow investors on how they do taxes
New investor here who recently closed on my first 4 units. The 4 units are owned under a LLC that is set up as a partnership between me and my wife. I recently met with a CPA to discuss my tax filings for next year an...
Terry Royce
1031 Exchange on a flip
I have 2 properties that are getting ready to
Settle in the next 30 days, I would like to do a 1031 Exchange either into another flip or into rentals. I have read conflicting info on this topic in regards to flips, ca...
Daniel Pitta
Invest as an individual or through your LLC?
I'm going to be investing in my first deal next month, a SFH in NE DC. I'm trying to decide whether to invest as an individual, through my personal checking account, or through my small business. I'm going to be cover...
Michael Romanowicz
Separating Business Finances
Good morning. I am looking for some assistance in purchasing my first rental. I have read the pros and cons of owning an LLC and have been leaning toward not forming an LLC. My thinking is that it will be easier an...