Louis Aller
How to Handle Renting to Waiters?
How do you handle getting applicants from waiters/waitresses and other jobs that are partially/mainly paid in cash? It doesn't quite seem fair to completely exclude people who earn 3x rent but obviously can't substant...
Karla Kahmeyer
# of Bank accounts for each property
Hello BP Pros. Newbie with first post here. How many types of bank accounts do you use for the actual property management/bookkeeping activities? Do you have a checking account, a separate account for Capex etc, and a...
Josh Autery
Prepaid Rent Pros and Cons (Texas)
Fellow bp members (especially the Texas ones)... Need some help/advice!What are some pros and cons of accepting a years rent in full at lease signing? Is this even legal?Thanks!
David Mcginnis
Security deposits on a foreclosure auction purchase
Recently looked at an occupied 3 unit building that was scheduled for foreclosure. Presumably, the tenants has posted security deposits for their units. And presumably, if I had purchased at auction, I would then own ...
George P.
Being flagged as a 'Dealer' by IRS - for this strategy?
Business entity - one member LLC
Strategy: contract assignment and contract assignment with short-term (one year or less) financing provided by the entity to the end buyer/rehabber.
...
Kevin Sapp
Depreciated Property to a charitable remainder unitrust
Tax wizards, a question for ya.I have a property that has been depreciated for 24 years, lets call it 90K of depreciation. The property is worth about 150K, I'll have capital gains after minor increases in the basis o...
Vu Nghiem
Legal question on structuring a deal
Hi all,
I'm a novice investor that have done a few live flips deals on my own. I have a group of friends that is willing to commit about 300K of capital for me to BRRRR with.
How should I structure the entity so th...
Derek A Griffin
Using a Self Directed IRA to Purchase RE investment
Hello all. I have been doing some reading on a Self Direct IRA for which an individual can take their 401k funds and move to a Self Directed IRA in order to purchase an investment property. I get the basic overview ...
Matt Wahidi
Auction Home Bidding
I got a lead from auction.com and I decided to dig deeper on this property....I found delinquent tax liens for purchase on the local county website. It appears these can be paid off to purchase the said properties. If...
Daniel Schiff
Taxes due for flip with married couple both with W-2 earnings
My spouse and I have a real estate pass thru LLC we are 50:50 partners / owners of. We are in the middle of a flip which will sell in 2024 and have a second one lined up. Estimate to make 80-100k from both deals. Fo...