Bryan Pham
What are the tax implications of buying property in Canada?
Hi BP,2 months, I traveled to Vancouver, Canada and I noticed a lot of real estate activities going on. I been wondering as an invest from the US, what are the legal and tax implications of owning properties up there?
Jessica Pierce
Breaking Lease early
Hi I have a tenant that is moving out after 6 months of a 12 month lease. She gave me 2 months notice thinking that was acceptable because in the lease it says 60 days notice for renewing the lease.I can’t find anythi...
Andrew Postell
Yay! Tax Season! What you need to know on claiming deductions!
It’s tax season! Yay! Can we detect sarcasm when it’s typed out? Since April is fast approaching that means many of us will need to file our Federal Tax Returns. Even if you are filing an extension I have tried to...
Michael Craig
How Do You Handle Early Lease Termination
-Tenant moved-in on March 2019 and signed a 1 year lease-Tenant just received a promotion which requires him to relocate-Tenant wants to terminate the lease earlyHow have you handled this situation?
Corey Reyment
Cost Segregation Study on a 16 unit and 401K To Reduce Tax
We are in negotiations on a 16 unit. Purchase price will be somewhere around $600K. We primarily wholesale and should end up somewhere around $400K this year of income from our wholesaling business. We met with our ac...
Steven Morris
1099 Main Income - Can I offset it with my rental expenses
Can I deduct my rehab expenses from my 1099 wage earned at work, to offset my high income? I make 93$/hr (193K a year) on my 1099 and my wife makes around 95000 a year salary. I also purchased a rental home and I am g...
Gaspare U.
How much do you set aside for Maint/CapEx/Vac. (NOT Percentage!)
I know a lot of people on MF use anywhere from 20-25% set aside between Vac, Maint and CapEx (trio) which is fine. My question is, is there a level you are comfortable setting aside? Let me explain via an example.Let'...
Kevin Sapp
Tax on unused insurance settlement
Hi,Situation is a property that I own outright, had roof damage and received an insurance settlement. Because of the circumstances, sold the property, the settlement will not be used to repair the property. Some of t...
Jonathan Cooke
Cash strapped but want to purchase
My wife and I are debating on taking out a HELOC on an investment property we own to purchase another property. My problem with this is that it's already too hard to cash flow as it is without adding an interest and p...
Account Closed
Tax Savings as a High-Earning Dual Income W2 Family ($300k / yr)
“Wealthy people buy real estate.” I realize I’m fortunate enough to count myself among them. These supposed tax savings though… where are they?
My wife and I are fortunate enough to have two W2 jobs making ~$150k /...