Nick Brown
Wholesaling with LLC?
Hi all - when getting a property under contract for a wholesale deal, is it permissible to put "my llc company name" "and/or assigns" etc.... and then have the end buyer sign the assignment contract?In other words can...
Brandon Turner
Self Employment Tax on Rental Income held in an LLC?
Any tax pro's out there?
If I own a LLC that owns an apartment building, do I have to pay self employment taxes on the cashflow each month? I know normally passive income does not get taxed with self employment, but...
Geoffrey Francis
Purchasing Foreclosures through Sheriff's Sales in Minnesota
I am looking at purchasing a property in Minnesota at a Sheriff's Sale/Auction. The regulations for foreclosure sales in Minnesota seem to be quite different from surrounding states. I am looking for some feedback fro...
Cameron Delmotte
Taking The First Steps On A First Deal
Hello everyone,First discussion here on BP.I have been watching the podcasts and reading the forums and articles for a short time now, and am trying to get a solid understanding of this new world around me.Recently de...
Account Closed
Buying property from motivated sellers..sellers nervous about affecting income taxes, medicaid, etc???
Hey guys and gals, anyone know the laws/rules on medicaid qualifications? I have a property that a few sisters inherited, that we're close to agreeing on a price. They're nervous about receiving money that will nega...
Charles Montgomery
Help me Understand Equity? It seems Arbitrary
I dont really understand equity, especially on the buy/hold strategies. It seems like equity is subjective and speculative.For example, reading some of the BRRR threads. People talk about Cash out refinancing for 70-8...
Tomiko Graves
Should I register as a business (LLC) before I get started?
With the tax breaks that come along with owning a business, should I register as a business before I start flipping houses? I'm just concerned that the money gained will count as income which could be a tax nightmare.
Tim M.
Help me evaluate this 4-plex deal
While technically not my first deal, this may be the start of my RE portfolio. I'll run through the numbers, feel free to comment/advise,etc.
4 unit MFH, asking 105k. I will offer 97k max, I have 30% cash downpayment ...
Joseph Weisenbloom
Building with cinder blocks
So I just got back from Mexico and I noticed nearly all the houses are built with cinder blocks. Which made me think why aren’t many houses in the US built with cinder blocks? It seems easier to contruct, less materia...
Tanner Gish
Promissory Note for Owner's Personal Loan to an LLC for Purchase
Hey Everyone! Happy Holidays.Question: a partner and I purchased a property cash last month (vested in an LLC where we are 50/50 members). We have now started collecting rent, and what to set up the capital contributi...