Rafael Trinidad
turn key vs newbie best recommendation
hello to all my name is mike I am currently looking at buying my second property in the area of Detroit my option that I am considering is buying with money from my 401k a turnkey property that already has a tenant in...
Matthew Harrigan
Mega backdoor Roth vs taxable
I am a retirement account maximalist. I want to make sure I'm not missing something.I can withdraw penalty free from prior Roth contributions and 5+ year old conversions, an inherited tradtional IRA, an HSA with prior...
Tony Tibbar
Does using borrowed money make any difference tax wise?
Is there any difference in taxes if I report $20k net profit made with:a] 100% personal cash (savings)b] 75% borrowed and 25% personal cash?
Jessica N.
Hard Money Loan and property taxes/home owner's insurance
Hi everyone! Newbie here, looking to invest in my first flip. If I take out a hard money loan, let's say for 6 months, how are property taxes and homeowners insurance managed? Ideally, you'd like to pay only for the m...
Jason NA
Tax consequenses of money received as seller credit back
Lets say I buy a property and write the contract with 6% seller credit back to me for repairs: As we all know this can be nice in order to finance more $ at a low rate. Well what about taxes? I assume that normally I ...
Jerry Kisasonak
Tax Sales... Who gets the money that's left over?
I feel I should know this answer but I don't... so I'm exposing my ignorance here. (So far it doesn't hurt too much!)
If someone owns a property free and clear and they don't pay their property taxes one of t...
Rumen Mladenov
Using HELOC for a hard money loan - tax implications?
Let's say someone takes money out of a HELOC at 8% and lends it out as a hard money loan at 12%. After the loan is paid off, a 1099 is sent to the hard money borrower and the IRS showing the interest received. How can...
Kimi McCarty
Over the Counter Tax property with Hard money Loan
Just a thought! I don't know if this is possible but it's worth pondering. Could I get a hard money loan to purchase over the counter tax forclosures??? Is that even possible?? I know how to find the over the counte...
Pablo Barrios
Nonresident alien Hard Money Loan Investor. income Tax impact.
Hi, I am a Nonresident alien with an Investment in a Promissory Note guaranteed with a Deed of trust (in other words, a Hard Money Loan Investor in Real Property in California).I would like to be advised about the tax...
Ben M.
Do real estate investors get money back from taxes
I am not clear about the tax benefits of purchasing and owning rental property investment homes.
Do we lose money to pay taxes when tax time comes or do we generally get some money back?