Chad Hovermale
Lease Options and IRAs
For all of the IRA experts.In your opinion, if I purchase an option to buy a property with funds from my IRA and manage the property during the option period inside of the IRA, would I be prohibited from purchasing th...
Colby Mulry
Investing with someone for tax benefits?
Right now I am the sole owner of an LLC that I just formed and I am going to transfer my first properties deed into it.
For my second property, I have a partner who wants to go in 50/50 to help with his taxes at the...
Matthew Alexander
Residence to rental in May. How to apply insur/tax expenses?
Last May, I converted my residence to a rental property, so it was technically a rental property from May to December. In November, I paid my 2017 County tax bill. When filling out my Schedule E, should I divide my ta...
James Alt
Using profits from flip to purchase a primary residence
I have a property that I'm flipping and am hoping to use the proceeds of the sale towards a down payment on a primary residence. Do I avoid taxes on the money I make from the flip by doing this? I understand that I ca...
Josef Torkelsen
Tax on home versus rental
Appreciate if someone can help give guidance on our situation. We will seek CPA guidance before we actually commit. We currently own a single family home in Orange County. It is too big for our needs and we are on wit...
David Briley
Forming LLC for private money partners
I want to form an LLC with two private investors. I'll run the project and they'll pitch in various amounts of money. Once we get an accepted offer, then we'd just create an LLC just for the property we're working on...
Jason Padgett
Realizing tax benefits while investing in a syndication deal
Curious to understand some of the tax-related nuances with regard to taking a more passive approach through a syndication investment. Specifically, how this type of investment is typically treated for tax purposes (i....
John McAllister
Can I use a LLC to remodel my home that I bought and use expense
I am in the process of starting construction management & consulting business.At the same time, I am buying a personal home that I will rehab and live in. Can I remodel the home I am buying through my LLC? Legally...
John Vietmeyer
Timing for Opportunity Zone Investment
I have a contract on a duplex and just realized it is in an opportunity zone. Wondering if the following is possible:
1) set-up a LLC and self certify as an opportunity zone 2) used hard $ fund to close on the prope...
Katlynn Teague
1031 Exchange Questions
Good morning BP,
I am curious about 1031 Exchange and have a couple of questions.
How did you start using 1031? What are the benefits? Are there rules associated with 1031 or any specific guidelines that need to be...