Account Closed
Rolling over profits in one property to avoid tax
I'm under contract on an existing single family in Billings, Montana. I already own an existing multiplex here in Billings (and apparently that property is like finding unicorn farts). My question is, if I wanted to f...
Jake McVey
Romeoville IL Flip
Investment Info:
Townhouse fix & flip investment in Romeoville.
Purchase price: $160,000
Cash invested: $230,000
Sale price: $275,000
A full rehab in Romeoville. New flooring, kitchen, bathr...
Steve S.
Best way to remove odors from Indian food during turnover?
Last tenant cooked some amazing Indian food but with the spices etc the new tenant is concerned the odor may still be prevalent when they move in. Any suggestions? Will standard cleaning do the trick?
Adam Giles
Fair Housing - Therapy Animals and Pet Deposits
I have been searching around in previous discussions and have not found anything specific regarding my concern so I am posting this discussion on an admittedly common subject so people can hopefully share any experien...
William Ruiz
LLC or an S-Corp
Good evening BP community!I recently started doing business as a RE investor and I would like to hear from other investors out there your thoughts about filing taxes as an LLC vs an S-Corp. Taking in consideration tha...
Ashish Acharya
Real life example of the real estate professional status
Recently, in the case Birdsong, doctor's wife demonstrated that she actively and extensively managed their rental properties and was therefore a “real estate professional”. RE professional is not limited by the passi...
Austin Deardorff
TICs (Tenants in Common)
Hello Everyone,For the topic at hand - I recently learned about Tenants in Common (TICs) as a real estate investment option. Although I am not currently pursuing one, as I understand they can be fairly pricey, I was w...
Travis Boyd
Should I sell my primary residence at $500k profit?
Hi all. I bought our primary 4 bedroom residence in 2020 for $930k and it has increased in value to $1.43m (woo hoo!). Now that the value has increased $500k, any additional increase will be taxable income when I do s...
Mark I.
NREIG instituting mandatory $5k deductible for all of Michigan
I have been issuing NREIG for all my properties in Michigan for builder's, vacant, and rented coverages. Yesterday I was informed that one of my properties was now going to increase to $5000 deductible effective immed...
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...