Tom Evans
we got a house at the sheriffs auction (not)
Last Friday we bid on a house for $34,000 against one other bidder and won. After the auction was over, we went up to write a check for the deposit. A lady approached us and said she was there to make sure the bids re...
David Howarth
Deductions greater than Income
If my deductions are greater than the income generated from my property, how does that effect my tax liability?
Does it decrease the total amount of taxes owed? Or does my tax liability stay the same?
Aaron Fine
Lending to flipper for construction w/o collateral
I’ve done a few deals with a flipper in my area and all have went well. The new project is a knockdown and new construction build. The issue with our loan would be that there is no collateral since our loan amount wou...
Zach Plackemeier
Arguments against STR Ban
Hey All - we have a few STRs in a suburb of the St. Louis, Mo area. They are doing well. The local city municipality is considering banning STRs in residential areas and making it only in option in commercial zoned...
Steve Balinski
Paint in between tenants? Yes or no?
Hello everyone,
I'm curious how many people paint in between each tenant? Surely depends on condition, but if it has some basic scrapes and marks here and there, do you repaint for each tenant?
im calculating th...
James Kim
When do you give rent credit to tenant?
Hi,
I was curious when any of you as landlord have given credit on rent to tenants? Would a situation where an appliance fails and repairs take too long (even though you acted asap to get it repaired) warrant a credi...
Joe Spinelli
Real Estate Professional - 750 hour question
Hello everyone! I know the criteria to be a RE Professional is 750 hours in RE and more hours in RE than any other job. My accountant told me that I need to spend 750 hours PER PROPERTY which does not make sense. H...
Rahul Gupta
Primary property exception rule on 2 houses?
We bought our primary residence in 2018, lived there till Mid Dec 2020 and then converted that to Airbnb. We moved to a new state in mid Dec 2020 and bought our primary house there which we sold in January of this yea...
Jan Gudell
Family Trust and Problems with Deadbeat Trustees
My father recenlty put a 100+ year-old two-unit rental property in a trust which includes my father, me and two siblings. The building is paid-off and in a desirable urban neighborhood, however it is in need of upgrad...
Brian Morgan
Me big W2, spouse RE pro. How write off 1/3 LLC losses?
Sorry for the Tarzan title, but I think it covers the bases. So I’m a W2 wage earner in the 33% tax bracket and my wife, who has no income, logged 750 hours on our rental house last year to qualify as a real estate pr...