Daniel Mohnkern
What to include when teaching your children.
Hi everybody. Thanks in advance for your help on this one. Any ideas would help a lot.I have a 14 and a 13 year old who are both interested in learning and beginning investing in real estate and business. My wife a...
Account Closed
Issued Wrong Permits
Hello Bigger Pockets Family.I am finishing up building a 4-plex (2 units up, 2 units down) in an unincorporated area in a Texas county. I started construction in March 2022. The building is on a residential lot I pu...
Bruce Crawford
Protecting your assets for non-US citizen spouse
I am trying to learn the best way to protect assets in the US when I die. My wife is Japanese (we live in Tokyo) and I want to be sure she will inherit all assets in the US. Any suggestions on the best way to do this?...
Michael King
Multi-family exit strategies
Does anyone have a list of exit strategies that would work for multi-family properties in either a "lease option" deal or a "subject to" deal (subject to their existing financing)? Thanks, Mike
Joshua Spegel
Need advice - DEED question!
I have someone who wants to sell their 10 acres. They bought it on a Land Contract back in the 60's. Never got a deed for the property. Her husband died in the early 80's. She has been paying taxes on it ever since bu...
Nick Gupta
Have funds, but where do I start?
Hello BP Community, I have been a long time lurker here and a big time fan of the BP community. Really excited to finally become a member and start my path to financial independence.A little background about myself: I...
John Thedford
Question about Fraud
Paging @Bill GulleyRecently you wrote a post about contracts, citing various forms of fraud such as fraud by inducement, etc. A friend has a situation with an unlicensed broker that appears to possibly be going to cou...
Sue T.
Buying real estate using seller financing
Hi,
I have a question for people who are experienced with buying real estate using seller financing. Do you guys only use seller financing when the seller owns the property free and clear? If the seller does NOT own...
Michael Seeker
Self Employment Tax on a Flip
I'm wondering if/why I will have to pay SE tax and all the other extra taxes on my profits from flipping.
This would make sense to me if flipping were my job and I were self employed, but the majority of my income (a...
Matthew Teifke
Assuming a mortgage
I recently assumed a mortgage with build in equity. I'm planning to turn around and sell this property and I'm curious as to what my cost basis would be for taxing purposes. Just to make this simple. I paid $30 k to g...