Chris Look
Short Term Rental Tax Benefits
Hey everyone, we are looking for some clarification or advice on maximizing the tax benefits on a short term rental. We are in the process of purchasing our first property, just narrowing it down right now. We both ha...
George Cen
Have applicants/renters run their own credit reports?
Hey, I'd like to get both landlords' and renters' thoughts on this. During the application process, I believe it is beneficial for both the landlord and the renter to have the renter be the one that runs his/her own r...
Chris Fritz-Grice
Life Insurance Loan affecting DTI
Hey everyone! Just bought my first property in May and looking to get into the next one soon and my question is: If I have my money in a Whole Life insurance policy and borrow against that for a down payment would tha...
Account Closed
Do we really get tax benefit for rental property?
Lets assume a Scenario: A new investor who invests $150K on a first rental property. No other retal or home mortgages.
IRS: US govt already allows a "Standard Deduction" of S24,400 (Married joint filing). The other o...
Account Closed
New Agent Looking for Part-Time Advice
Hello all! I am currently getting my agent license and researching brokerages in my area (Clarksville, TN). I am currently in the military and won't retire for about three more years. I wanted to get into this industr...
Andrew Emery
New to BP - Interest Piqued by Renting My First Property
Hi BiggerPockets Community!
I’ve been reading these forums for awhile and have learned a ton of amazing information from you all -
I'm in somewhat of a unique situation (or perhaps not unique at all) in that I curre...
Shiloh Lundahl
What is your FAVORITE STR/AirBNB?
We just finished setting up our Costa Rican short-term rental (well almost, we still need to hand the curtains and the wall art). Anyway, I am super excited so much so that I wanted to create this post to see what you...
Ross Alcorn
Cost Segregation: W2 Employee and Not REPS: Worth it?
I'm wondering if it makes sense to do a cost segregation study if I'm a W2 employee and don't have REPS. I would be looking to do this for a townhome that became a rental in 2021 but I don't foresee myself moving into...
Roseann Stevens
Purchase of Investment Property to Rent to Adult Child
I am in the process of purchasing a single family house for my daughter and grandson to rent. I am putting 20% down and financing the rest as an investment property. Our intention is she will build her credit and sa...
Lilly Fang
For flip, should I have an LLC or just as an individual? What about BRRR?
1, I just did a flip with a partner. He has an LLC, but I am an individual. The profit will be taxed at my personal tax rate.What's the benefit of having an LLC to do flip? What I think is that the mileage and meals w...