Derek Smith
Business Expenses - Can we write off prior to LLC?
Recently my girlfriend and I have been remodeling her house, some changes were required (repairs) while others were more cosmetic (general updates). Once finished we will list it as a rental, in a couple months, but w...
Rick Jones
Property not "in service" in '16. Can I expense taxes & interest?
I know that this can be done but not sure how how to do it. I want to write off property taxes and mortgage interest paid for property purchased in 11/16. Its still undergoing a rehab so its not "rent ready" yet. I kn...
James Sedano
IRA withdrawal to fund investment properties, can a cost seg help to reduce tax bill?
Hi all,
As titled.. I did a IRA withdrawal of 300k to buy 2 condos in May/June 2024.
I didn’t paid the 10% penalty fee.
I’m not currently working so my income is basically the 300k + (28k gross or 15k net) from a...
Michael Ndjondo makadi
Can trip expenses to go buy a first house be tax deductible?
Good evening to all.I am just getting started in my RE investment journey and after long thoughts I have finally decided to invest in Wichita, KS even if I live in San Diego. I have lived there for a couple of years a...
Jeremy Lee
Co-ownership and section 121
Hi all,
Wanted to pose an interesting question for feedback:
Is there anything in IRS section 121 that speaks to the impact on holding periods when there is an increase in ownership interest in the context of a prop...
Lucas Dubs
Florida law on late fees
So I’m closing on my first house in a couple weeks in the greater Orlando area. I’m gonna be house hacking, so I’ve been reading the landlord tenant laws for Florida (chapter 83 part II). I can’t find anything about l...
Maxim Lorenz
How to address fish tank in rental?
I have a tenant in Texas who to this day has been great, always pays rent on time, receptive of rent raises, and overall transparent and takes care of the property. Our lease is set to expire 30 Sep 2022 and we renewe...
Sergio Serra
Seeking Advice: Relocating to Palo Alto - Keep or Sell My Irvine Property?
Dear friends,
I have been a part of this community for many years, and it's thanks to your support that I gained the confidence to purchase my first house exactly two years ago (on October 1st). Now, I'm facing a dec...
Paul D.
Financing an improvement to a property
Hello,I have a single family rental, the city will allow me to build a detached garage with an apartment above it and convert the property to a 2 family. The property has a 250k mortgage (4% Apr). and is worth around...
Jennifer Hashisaki
Tips for Finding Great Tenants for your Rental Condo
When renting any property you own, it is imperative that you locate reliable and trustworthy tenants to ensure your home is cared for and the bills are paid on time.
Advertising for and interviewing tenants is much l...