Sam Y.
eligibility requirement- change rental to owner occupy to sell
I have a condo that I want to sell. Owned more than 5 years, never owner occupied. I want to claim the condo as my primary residence and keep current residence as a second/vacation home.
Reading publication 523- ...
Jo W.
House hacking - can i "discriminate"?
Hi all,
If i'm house hacking (Side by side duplex, i will be living in one side and the tenant will be living on the other side) can i "discriminate" aka choose someone i like better because i have more things in com...
Asim Purses
Any update on Chicago ADU expansion? Exceptions to curent areas?
The latest I saw was this article:https://therealdeal.com/chicago/2023/06/09/top-chicago-offic...And that there's an openness to expand the pilot areas to beyond what's been marked. Has anyone heard any updates?Also -...
Ryan Wamsat
Prop 21 - Rent Control on Residential Property - Questions
I've read through the voter information guide as well as the text of the proposition on ballotpedia. Section 3f states "To exempt the owners of one or two residential dwellings from any local rental control law." Ne...
Nghi Le
Best Way to Gift Property to Family to Avoid Taxes
My brother-in-law has a primary residence (with no mortgage) that he may want to sell to us in the future (and we want to rent it out or do AirBnB). However, we want to minimize taxes for him and for us. Currently h...
Frank S.
DBA to mask my identity in Illinois
Hello, I would like to create a separate business identity without having to form an LLC or corporation. Now, I only want to mask my identity from my tenants and contractors. I carry a 1 million umbrella policy and ...
Jack Lee
Seller Financing??
Hey guys,
How do you go about getting seller financing? Do you just ask the seller if they are familiar to the topic and then give them more information?
In addition, what if the seller uses an agent? Do you just p...
Troy Fisher
Syndication - Equity Partners Finding Fee
So this weekend I met an interesting guy who is working on some pretty big commercial deals. He's got a couple of syndicated deals in the works looking mostly at rehab and resells.
I've got a guy who is an ...
Dennis Johnson
Raising Capital For Investments
Hey BP family, I understand only by trying and trying to raise capital you just have to do it and be consistent. My biggest question is since there is not a general script, talking to investors over the phone ho...
Jered Collins
Just went under contract (Review Deal & Tax Question)
Just went under contract today on a house in Richmond, Va. It's located in the South Richmond District of Richmond, Va. To the facts...4 BR 3 Full Bath2,497 Sq FtTwo story brick traditional Contract Price = $70,000R...