Mike Hanneman
Tax deferment on 2nd home
I was wondering if there are any tax deferments for selling of a 2nd home and using proceeds to lend to someone for an investment property. Do the standard tax deductions apply when selling a 2nd home? Can you roll th...
Danny N.
Neighbor Passed Away,Can I trade My Vacation Home For Their Home?
Ok so sadly, our neighbor passed away at the age of 90. We live in the center of town and double lots are very rare, her home is worth about $600,000 lot value and the structure is a home from the 40s worth nothing. A...
Mark W.
Structuring accounts
At the moment I have separate savings accounts set up with a single bank. Some of the savings accounts are personal, while the others are what I would consider "business" savings accounts: property tax escrows for...
Joe Campbell
Pulling $ out of paid in full rental?
I am literally at a dead end here and I am wondering if BP members have come across a similar situation to this....Myself and another investor own 2 properties, paid in full. One has a value of approximately 110k and...
Kelly Wiggs
Purchasing Opportunity Zone Property W/ Stock Sale Capital gain?
There's a building I'm planning to purchase next week using the proceeds from the sales of stock. Has anyone done this? I have a meeting with my accountant next week to discuss, but I wanted to reach out and get feedb...
Chris S.
setting up LLC in Ohio
I have currently set up an LLC for my rental properties that my wife and I own in Ohio. I am setting up the business bank accounts and need the EIN. When I apply for this online with the IRS is it possible in Ohio to ...
Matthew Schroeder
Accountants: Sale of Rental Property in LLC - Ordinary Income or Capital Gain?
Dear All,Are there any wise accountants out there?The Situation: The LLC in which I own a 50% interest sold a rental property last year and recorded a large gain on the sale. I had considered this a "capital gain" a...
Sam Faas
Should I hide my real name/contact info during the rental?
I am a small landlord, whose 1 investment property is held in my name. In the past I have used a property manager but thinking of doing this myself.I was wondering if any other small landlords do anything to hide the...
Michael Seutin
I bought property cash, can banks finance rehabs, how?
I bought this property for 11k, needs about 15k of rehab. I hold property under LLC. Property should appraise around 30k after repairs. First bank I called gave me a hard time because it's held under an LLC. Which...
Bridgette Luce
Transfer sheriffs deed
I bought some land at the tax resale held at the court house. This land had already been to auction once and this was a resale because it was initially not sold. This land cannot be bought back by original owner as it...