Fabiola F.
My CPA & I are in a debate about how to categorize reno expenses
This is a case of where my accounting MBA background plus what I read online is in conflict with my CPA's knowledge. In filing my business returns (S-corp), my CPA seems to think that renovation expenses should go in...
Luka Milicevic
A friend of mine is going through divorce but wants to keep the house
Hey BP,I have a good friend of mine who is currently going through a divorce. He has two options with the house1-sell and split the proceeds2-Keep the house and payout his spouses equity portion over the next 10 years...
Patrick Blankenship
VA refi for primary residence or 5% Conventional
Here we go- I will try and be concise. I live in Charlotte and own a home on a VA loan and am considering refinancing at 2.75% 30 yr fixed. Would only cut about $100 off current payment bc I have a 3.25%. Plan is to r...
Jack Lee
Cashflow Taxation Problem
Hey guys, I have a question.
Hypothetical scenario:
SFR
$1000 NOI
$500 Service on a selling financing.
Cashflow = $500
Are you taxed on the $1000 NOI or on the $500 cashflow?
Andrew Steffens
Credit Card Points Hacking
Hey allOne of my hobbies is definitely traveling, and I suspect many here share that. Are there any other points enthusiasts here? Undoubtedly all of us have business expenses that can rack up large credit card poin...
Michael Elizondo
Custom home rehabbed in Friendswood, TX
Investment Info:
Single-family residence fix & flip investment.
2500 sqft home, 4 bedroom, 2.5 bath custom built home in Friendswood, Tx with huge 450sqft bonus room (not shown in pictures)
What...
Jenny Seaborn
How does private lending percentages work?
We have a private lender that will be lending to us. we will be giving them 10%. How do we calculate this and figure out how much we will owe them when we are done with our renovation? We are guessing the project wil...
Daniel Ferster
Getting a mortgage with part time work
Hey everyone! Thanks for taking the time to read! If you think this post should be in a different category let me know.My wife works part time (Monday - Wednesday) as an engineer bringing in about 60k a year. Her job ...
David C.
Can one of your LLCs purchase the property of another LLC ?
I had watched a YouTube video of Clint Coons regarding creating a WY LLC holding company which in turn owns your individual LLCs to provide anonymity. This sounded like a great option. However when it came to the po...
Terry N.
Paying Capital Gains Tax
When paying Capital Gains, do you pay both Federal (15%) and State (?-varies by state?)
I know, 1031 and defer...but thinking about keeping options open as to how to re-deploy...
Thx.