Brian Peterman
Will I incur a penalty or have a tax hit on a withdraw Roth IRA
Hey BP! Working on closing my first deal and I'm wondering if my thinking is correct. I am purchasing a 3 flat that I will be living in and this is my first home purchase. I have ~$20,000 total in my Roth IRA and I wo...
Jason Eyerly
If I Use A HML To Fix/Flip, What Costs Can I Expect To Incur?
Hello BP, I'm looking to get started looking for my first property to flip very soon. I will be using a HML that wraps all points and fees into the loan, and hopefully will have no interest payments for the first s...
Marco G.
Texas LLC, CA LLC Tax?
Anyone know offhand if a CA resident is one of two shareholders of a Texas LLC holding Texas commercial property, does the CA resident incur the minimum $800 CA LLC tax fee? It is expected to show a tax loss.
Eric Jones
Is Interest on HELOC secured by rental property tax deductible?
I have a tax question regarding the mortgage interest tax deduction on investment properties.Here's the scenario:1. Currently have a large HELOC on my primary residence (House A)2. Use the HELOC to make a large down p...
Carlton Ellis
Rehabbers Let's Talk Repairs
The current economic downturn and real estate market offer a great opportunity for rehabbers to make serious money. IF they make the right choice when buying property. My questions are these for experienced rehabbers:...
Marv Edelstein
Does refi in an IRA cause UBIT
Purchasing a rental property with financing in an IRA creates a UBIT (Unrelated Business Income Tax) liability. However, If the IRA purchases the property with cash, then borrows to rehab, and then holds as a rental f...
Carlo Franciotti
Penalties with a foreclosure still on my record
I own one home and have one investment property. I am looking to finance an additional property with a friend but I am wondering if my friend will incure the penalties of me having a foreclosure on my record. Will ...
Andrew L.
How do you shop for mortgage?
As the title implies, I am new to real estate and just last week, I called out a couple of mortgage brokers to see what kind of mortgage and rate I could qualify for. I wanted to do this without incurring a credit pul...
Dyami Pike
Does my business impact my DTI ratio
I'm looking to buy my first investment property and I had a question. I own 40% of an LLC. Do the debts incurred by the business impact my DTI or are they viewed as a separate debt?
Justin Summers
Question on Properties bought and Held but not Rented
I bought several properties at tax sale in 2022 and I'm doing my taxes now. The properties are unlivable and have not been rented and are not offered for rent. They are just sitting. I do have costs incurred maintain...