Jenice Edmonds-McDaniel
Lenders...
When your just starting out you hear lots of terms like soft and hard money lenders...can anyone explain this to me? I'm trying to line all my ducks up before I get totally wet. I know that there may be a time when ...
Pam Smith
Schedule E - filing as non-passive income
Hi all-I was reading one of the blog posts on the Short Term Shop blog about Schedule E vs C, passive vs non-passive. In the blog, they reference, "According to Treasury regulations, vacation rental owners who rent th...
Isabella Romano
Furnished Finder vs AirBnb
Hi,
I'm new to the community and trying to figure out the best site to list my rental property on. This property is in Albuquerque NM which is not a particularly popular vacation spot. We would like to do a furnished...
Daniel Sisto
Probate Situation- Inherited Home. NEED HELP
Good afternoon BP. I am dealing with a homeowner who has inherited a home from his deceased father. The home has no mortgage on it but he has not paid the taxes in 3 years so the foreclosure process will begin in Sept...
Miguel Rodriguez
Good deal on a duplex?
Buying my first rental investment! I just went under contract for a duplex, it’s a 4/2 on each side with a 2 car garage on each side. Paid asking which was a little lower than comps (about 15-20k) but it was a for sal...
Sheena Varghese
Flip taking longer than a year and tax implications
Hello,My current flip will take longer than a year, about 18 months. Can I still deduct all renovation costs from the profit in regards to paying taxes on the profit. I have all cash in the property and for renovati...
Nancy Fortenberry
Seller agent ignored appraiser report
We were almost closed on a house when we got the appraisal report. The square footage of the house was off over 300 sq, ft. The selling agent ignored the report and would not discuss anything with us. Instead, he just...
Bernie Tobin
When to pay off home equity loans...?
After spending a ton of time on this site and listening to a bunch of podcasts, I am finally taking action. I've got a partner with experience in rehab/holding/flipping and today I began the process of getting a home...
Alejandro Obando
House Hacking (FHA) in NYC or OOS investing w. turnkey companies
New Investor, trying to figure out what strategy I could utilize for my very first investment. My goal is to invest in a property that will generate roughly $300/ month in cash flow within the first year. currently sa...
Jim Williams
tax consequences of assignment of contract
has anyone had any experience, from a tax standpoint, in assigning a contract for profit? in other words, what type of income does irs consider this transaction for person assigning?
jim