Timothy C.
Avoiding LLC/Personal Finances Commingling
As I'm getting the foundation of by business started, I'm trying to take into consideration the tax implications as well as the legal implications of the money I spend. Since I don't know the answer to this questi...
Ezra Nugroho
Seller cannot close because of lien, what now?
Hi BP.Tomorrow I was supposed to close on a property, which we are now not going to. During the title search, we discovered a sizable second lien that they didn't disclose. When we mentioned the fact, they acted surpr...
Brad Davis
Should Landlord Pay? Moving out tenants due to water leak.
I have a friend from my church who has suffered both financially and in her marriage relationship because they had to move from their apartment to a new apartment IN THE SAME COMPLEX. Their old apartment had reoccurri...
Eric Mcginn
STR in San Bernardino mountains
Hey everyone, I recently got a fantastic little mountain chalet in Rimforest, Lake Arrowhead CA We mostly got it as a personal get away and long term flip/sweat equity builder, but are interested in doing Airbnb. I fo...
Frank McGovern
closing costs in wholesale deal
This may be a stupid question but I really dont know the answer (I am a newbie). When you find an end buyer, does the buyer expect to pay the closing costs? If not, how do you pass the cost on to the end buyer? Any ad...
Chi Zhang
Material participation while managing renovations at a remote property
Hi BP, I’m in the process of renovating and setting up my first short term rental. The property is about 3 hours drive from my primary residence and I go there once or twice every week to work with my contractors to c...
Rohan Siddaraj
Crazy HOA Lien - Any Advice is much appreciated!
Hey guys, I have a house under contract in GA set to close next week. The house has a HOA lien. In March 2019, it was around 7.5k(fines)+2.5k(attorney fees), today it is right under $60k. I'm working on writing a lett...
Tom Broughton
HELP!!!!Problems buying from an estate
I have a contract on a house that was scheduled to close Friday.
It is part of an estate sale with a gentleman that had 11 children. I was notified tonight that 1 of the 11 did not want to sign during the session fo...
Lizanette Velez
Tax Question - Improvements and "Placed in service" date
HI everybody! Newbie here from Maryland, loving REI everyday more!! I read some previous posts on this topic but still somewhat confused. (I hope to add a CPA to my team pretty soon). I have two scenarios that wil...
Chris Fethke
Pulling money out of my 401k
I want to take funds out of my 401k to help start my first investment. I will be paying back into my 401k over 3 years. Will this be a wise decision? Is there a way to take funds out without getting hit with taxes?