Matthew Walsh
Out of state LLC rental
I am about to buy a property (or 2) in PA for rental purposes. I have a NY LLC which I created for a NY deal that didn’t happen. Is there any reason I should or should not use this current NY LLC for purchasing my PA ...
Mike Wells
Astonished at my tax services bill!
I have 6 rental properties, all Single Family Homes. I was previously paying a tax professional around $800 to $900 to prepare my tax returns for my 6 properties as well as my personal. I am using a new tax profession...
Dustan Marshall
loss with no income...?
I am new to RE investing and I am concerned about how to file for 2013. I will be closing on my first rental property Dec 5. 2013. I will be doing around 7000 $ in "repairs" and "improvements" as well as other as...
Lucy Can
How to do taxes on a development project?
We bought a single family home near downtown Denver, gave it to a builder for constructing a duplex after doing a quit claim to an LLC in 2018. The Duplex finished building in Summer 2019 and we sold it in fall 2019. ...
Morgan Crandall
CPA Recommendations: 1 triplex, 1 primary / Married Filing Separately due to PSLF
Looking for CPA recommendations in Chicagoland/Illinois (primary is in Chicago, rental is in Champaign, IL). Need someone who is well versed w/ student loans as well as I file separately from my husband to save on mon...
Mike Gardner
Land Contracts
I have several Land Contracts, this is the first time necessary to have someone removed from the property.
Can anyone share the method to achieve this goal, perferably how to file on my own and any notices I would n...
Bienes Raices
SMLLC -- using attorney or service to form, does it matter?
I've decided to form a single member LLC (I'm aware of the negatives in doing that). Since, as I understand, the operating agreement isn't that complicated for a SMLLC, does it make much difference if I use a (reputa...
Chris Kirkman
Best state for holding LLC for taxes?
My wife and I have the strategy of owning investment properties under LLCs formed in the state each property is within and want to place all these LLCs within the ownership of one holding LLC. We live in California i...
Rodney Dawkins
Bird-dog or wholesale
I have two potential deals in front of me, I'm waiting on my articles of incorporation which the bank is asking for. First deal can pick up for 70k partailly renovated contractors estimate to finish renovations 20k, ...
James Galla
Assignment/Transfer of Income Stream
So what are yall's thoughts on this scenario:Imagine my wife and I own one rental property, jointly, in our individual capacities. If I gift her my 1/2 interest, terminating my right to that property, does that gross ...