Paul Haviland
Option Fee - Tax Accounting (Expense or Depreciate)
Hi Everyone - My question is in regards to tax returns. I'm interested to better understand if an option fee, for a property you successfully close on, is an expense, or somehow added to your basis and depreciated. ...
Chris Webb
Closing costs on VA home loans.
Hi, have closing costs on VA 0% down home loans increased? I'm getting quoted $14,000 for a $325,000 home. Thanks!!
Account Closed
Wholesaling tax delinquent properties
When it comes to wholesaling tax delinquent properties how does the transaction work, if I’m correct I know that nothing can be done until the back taxes are paid. For example let’s say I get a property under contract...
Jeff Ausdemore
Property Tax Protesting-
Hello fellow investors,Have any of you used fee based (percentage or flat fee) tax protesting companies successfully?Or, have you protested yourself and saved some money by doing so?Any practical tips either way would...
Gabrielle E.
Rental analysis question
Hello BPers, quick question. When estimating whether a rental property is a good deal or not, how should I account for closing fees and loan fees when I won't know these amounts in the analysis phase?
Michael Lamb
IRA to Fund My Down Payment
I've always done the responsible thing, of putting money into my 401(k). After a few job moves, I have two IRAs and a 401(k). I've never really been saving for anything, other than retirement. With that being said,...
Eric La Pratt
What closing costs, fees, etc. are deductible from 203k project?
I closed on a multi-family 203k project in Chicago that I am house hacking. Since I will be occupying, I understand I can only write off a portion of the expenses (presumably 75% since there are 4 floors and I will li...
Connor Heim
Lumping Closing Costs???
Howdy friends! in 2008 I purchased my first three properties -- boo yah!For accounting, I have quickbooks self-employed (I was already using this for my FT freelance biz). I am trying to be very on top of my trans...
Katherine S.
Is my analysis correct?
I'm new to this site, and have just run our last rental purchase through the deal analysis outlined above. I'd appreciate it if someone could check my math, so to speak, to see if I'm figuring this correctly?Purchase...
Steve S.
Tax question on rental income
I'm trying to get a better understanding of how much of my rental profit I may be able to keep. If my AGI is $150,000 and my rental profit is $24,000 for the year, after paying the PITI and expenses, in a rough estim...