Jack Sarcia
1031 Boot at closing?
Hello all,To take some cash out of my proceeds at closing would be very helpful in paying off some debts. This is a 1031 Exchange.Is it possible to take $10k and pay the tax due on that amount?
Jad Alomari
Section 8 landlords… help.
I’m getting into the Detroit market and looking to rent in Seciton 8. I am trying to run my numbers but I just can’t seem to do it because there’s not enough information online. What are the taxes like for 60-100k hou...
Shawn Knight
Gift Tax Help Needed
Hi, I am working on purchasing my first multi-family investment property (4-units or less) in which I will be owner-occupied. I am needing to receive $200,000 in gift funds from my parents to add the down payment to m...
Jack B.
Washington State Real Estate Excise Tax exemptions?
Has anyone read through the RCW to find the exemptions or otherwise found an article that lists the exemptions? From what I see foreclosure, transfer to family members under specific circumstances and transfers of "de...
Bret N.
Due Diligence Question On buying a 1st NP Note With A Tax Lien
The note I am looking to buy has back taxes that were "Sold To The State" in 2010. Even with that amount that was sold to the state the deal would still be worth it. How does this play out when you buy a 1st with lie...
Donnie N.
When is the second Installment Cook County property taxes(2022) due this year?
I know they had a delay last year. When is the expected timing this year? Anyone know? I couldn't find anything online that can provide an estimate for this year.
Bill Willis
Tax Handing Q's - LLC vs Prop. in Your Name (Due-On-Sale Issue)
Afternoon,
I recently purchased another single family home to live in, but I still have my condo that I own and want to start renting out. I've done a bit a research around LLC's and creating one - (unfortunately, I ...
Chad Wan
Lender cannot close DSCR loan due to Tax Foreclosure record on Primary residence
I was applying for a DSCR on my rental property (cash out refinance) and everything seemed ok, my FICO 680, DSCR 1.08, Appraisal $179K, LTV 65%.
Unfortunately, the lender cannot close due to derogatory on record on m...
Nazimuddin Basha
Strategies to Combat Negative Cash Flow Due to Property Tax and Insurance Increases
Hey everyone,
I’m looking for advice on an issue I’m facing with my rental properties. Recently, my property taxes and insurance costs have increased significantly, turning what was once positive cash flow into negat...
Jeff D.
tax on LLC doing flips vs. tax on S-CORP doing flips?
Could someone please tell me in as general numbers and terms as possible what the overall difference in end taxes might be between these two? Let's say for example the company clears 120k in profit on sold flips eac...