Matt Mach
Closing on first flip, now what??
Just got word that the buyer for my first flip was approved by the bank and we'll be closing 12/9. I created a solo LLC that is owner of the house (may have just been a waste of money) but I was sure to try to keep al...
Jarrett Harris
What to do about Taxes
I'm not really sure which forum this should be in. But my question is, how do tax write offs work as far as repairs and upgrades are concerned? I have read and heard some people say any repair and/or upgrade you pe...
Jeff Wallace
C-Corp Tax Deductions
I will soon be flipping homes in a newly created C-Corp. My plan is to pay myself a salary and reduce the Corp's yearly net income to zero. I would like the corporation to pay as many of my personal expenses as poss...
Stephanie C.
Adding appreciation to a commercial property
Hello BP, One of my partners and I purchased a commercial building earlier this year. (First RE investment for me) I was wondering if there is any way to force appreciation by doing the bare minimum. Ultimately, I am ...
Charles Mangum
Should I try to minimize losses if I phase out for most of them anyway?
I have a loss on a single rental property of about $3,500. Because my MAGI is $150k the loss is phased and I am not able to reduce my income by the loss. If that's the case should I not include all of the expenses t...
Brian Naley
Irving,TX Multi-Family
I need help evaluating this property. I seems like it's a pretty good deal but I'd like some experts opinions and help completing this deal if it makes sense. The owner is going into foreclosure so owner financing is ...
Sakura Myers
Initial Legal and Tax Setup for Newbie Investors
Hello everyone! This is my first post to the community :) My mom and I have purchased our first rental property in North Myrtle Beach, SC. From the start, I want to ensure we are correctly setup legally and financiall...
Carlson Driver
Are expenses on short term rentals tax deductible
Say if we had a short term rental in Hawaii and were using a property manager to manage it for us which cost us ~$200/month. And we had to replace a dishwasher for $500 in 2021. Would the $2400 ($200 * 12) + $500 = $2...
Lawrence Ng
House Hacking SFH in Los Angeles
Hi I don't know if this financially makes sense for my case. I want to house hack in LA specifically Monterey Park area. With PIMI + utilities + car payment, I would use my whole month of paycheck if I lived alone in ...
Ellie Perlman
Fighting COVID-19’s Impact on Multifamily Properties
I’d like to share with you what we’re doing with our properties to mitigate COVID-19’s impact on our properties, with the hope that you can use some of these ideas and strategies on your own properties. If you have ad...