Mary Witt
A question about landlord liability
I am planning to rent out my unit in a mixed-use building. However, there is a commercial duct running behind my bedroom wall that I strongly suspect is being used in violation of the building code. I am over 90% conf...
Mike Romano
Is There a Way Around the 90-Day Flipping Rule?
Hello,I was wondering if there is any workaround for the 90-day flipping rule. The challenge I face is that all my property flips are completed in under 6 weeks. Consequently, every time I list a property on the marke...
Dina Harleth
VERY WORRIED: Quit claim not enough?!
I joined this site to ask a question about capital gains taxes when selling my rental property and came across a recent thread about quit claim vs grant deeds. http://www.biggerpockets.com/forums/84/topics/75839-sign...
Ryan MacDonald
Home Sale Contract and Mental Incompetence
Hello,I have a question relating to the signing of a home sale contract and the seller being declared mentally incompetent. I recently got a home under contract at the beginning of April with the intentions of closin...
Tim Mahoney
changing Host midstream
What are the consequences if a BnB owner/investor (my client), decides to change hosts or self-manage in the middle of a booking?Consequences to the investor, guest, and me (the current Host)? I offer an easy-out agr...
Jeremiah Gentz
Expired Contract
What are some of the consequences if I fail to find a buyer for a house under contract before the closing date?
Tran Chau
Guaranteeing an LLC for an Apartment Purchase
Hi all! I'm currently looking at an apartment building where the purchase price is around $1.25m. If all goes well, the plan is to purchase the property through an LLC.I spoke with a commercial lender the other day an...
Steph C.
Taxation of Rehabs that Cross to Next Calendar Year
Hi BP,
I have a question that I'm sure many of you can answer.
We purchased a home to rehab last year in an LLC. The rehab was completed last year, but the house did not sell by the end of 2011. If the house had so...
Jason Nesbitt
Rollover Business Startup Loan (ROBS) to fund RE Investment
Hello All,Our fix and flip business has had a lot of success and I am getting ready to quit my W2. Very exciting to get to this stage but it raises a few finance questions. I would ideally like to tap into my 403b t...
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...