Whitney Breedlove
1031 Exchange question - Is this allowed?
I'm trying to figure out how to interpret the 1031 exchange rule that the new property being purchase has to have at least the same value as the property being sold. Is this based off of the price you paid for the ori...
Jesse Hebert
Need a little advice about buying with Medicade
Hello all, I figured I would give this forum a shot to see if there were any real estate attorneys out there or an investor who has come across asimilar scenario. This particular property has been vacant for 10 years,...
Frank S.
Owner Occupied Chicago Triplex
Hi BPs!I'm running some calcs and would appreciate some feedback. This for a typical property is located in Chicago north side.Can you please review my cost and NOI assumptions? Let's assume this place had recent ca...
Troy Forney
repair write offs and taxes
So I just met with my accountant and according to him I made $11,000. in income off 2 properties full year and 1 for 3 months of 2016. After interest, taxes, insurance and depreciation, I am still showing $6,000. I ...
Phillip Smith
Property with missing address numbers. How do I find address?
Please help!! Found a property while driving for dollars, however all but the first of five (5) of the address numbers are missing. I took down the addresses of he properties to the right & left of the property b...
Michael Plaks
EXPLAINED: How to find a CPA focused on real estate
Tis the season. End of the year. The season of Bigger Pockets investors posting 10 nearly identical "Looking for a CPA" messages per day.
Disclosure: I am one of those people you are looking for. But this post is not...
Luca Mastrangelo
Maximize gains - cash out refi? sell outright? continue to rent?
Hi everyone, need some help here. I currently own a 2 family property that I will have paid off in a few years and starting to think about how to reduce taxes and maximize gains. Background:purchased 2 family (2 2 b...
Kyle Holsey
Quick question about vacant property
Hi , I'm having a hard time finding owner information to properties, i know how to get there name but after that I'm stuck. does anybody know how to get all the owner contact information? like phone number or mailing...
Sanjay Gupta
TurboTax Home and Business
I flipped property in 2017. We had two partners and used our personal name when buying. At time of buying, we did not have LLC setup.later on we have LLC and LLC taxes are taken care by CPA.How do we report sale of pr...
Jeremy Clarke
Homestead Exemption Law
I'm looking for someone who can clarify the homestead exemption act for me. As i understand it today, I can sell a house that I've lived in 2 of the last 5 years and not pay capital gains tax on that. So I did that, l...