Michael Garcia
5200 sq ft 6 unit boiler cost?
The owner is claiming that the gas cost is $2500 a year. Seems a little low for Chicago no? What do you think? He's also claiming $4200 for insurance. I'm checking with my insurance agent later this morning to see if ...
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 /...
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...
Chris Martin
Simple depreciation explaination
This was taken from a PM to a colleague.... After writing it up, I figured I'd put it here for your entertainment;) About the tax comment in my post...This is a simple example. The numbers are to show the point. Don't...
Allen Fletcher
Stuck with A Home that will not Sell
Purchase Price: $ $265,000Equity: $18,000Current Appraised Value: $280,000Square Footage: 2150Mortgage Payment: $1,745Property Taxes: $449.14Insurance: $44.17Current Monthly Rent: $1,250Backstory: I was forced to move...
Neil Copeland
Reducing Income Tax Strategies
Need some help from some seasoned professionals. I had a great discussion with my CPA today about a number of things that I needed to know, and she really tuned me up. I will have a solo 401k soon, and I already hav...
Corey Graham
Partner with investor or Private Lending/Hard Money Lending?
Hello Fellow Investors, I am looking for some guidance, I am building a proposal to present to investors. But I am curious from people who have some experience or have partnered with others who provided the capital ho...
Winston A.
Form 8582 - Passive Activity Losses
Do I have to fill out Part II “Special Allowance for Rental Real Estate Activities with Active Participation” of form 8582 “Passive Activity Loss Limitations”?
I am married, and our combined AGI is $125,000.
We mak...
Lisa Mason
Claiming the Home Office Deduction when you have a net loss for the year?
Does anyone know if you have a net loss for the year, do you claim your home office deduction that year and carry it forward, or do you "not claim" it, hold on to the info, and claim it when you have a net profit for ...