Mike Knowles
Does "final offer" really mean final?
I put an offer in on a SFR REO for $15k. Within a few hours, the bank countered at $35k. I upped my price to $20k right away...3 days later they came back at $30k, final offer.
My understanding of the delay is that...
Chris Masons
New Tangible Property regulations??
Does anyone have any info on this subject? IE. what it is and how it will impact us landlords?
I keep hearing about it and that the IRS has nto made a final decision on it as of yet?
anyone have any info on th...
Samuel Mutschler
Balloon Mortgage and Taxes!
I found an investor for a rental property. The investor will act as the "bank" and provide the money for the investment property at maybe a 5% interest rate. Myself, the "landlord", will find a property to buy and man...
Troy Peterson
Most Difficult Wholesale Deal We've Ever Done
Investment Info:
Single-family residence wholesale investment.
Purchase price: $52,900
Cash invested: $52,900
Sale price: $150,000
Most difficult wholesale deal we've done. originally bailed it ...
Joe Minteer
Sold a rental for major profit, then bought other rentals with money.
So I finally sold a home and made a considerable amount of money. I took the money, though not all of it, and bought a number of new properties. How do you go about handing taxes with this type of situation? What k...
Michael Plaks
How to get $100k IRS refunds without those fancy tax strategies
Hey, BP tribe,I stumbled upon a truly fascinating recent court case: https://www.leagle.com/decisio...The case itself was devoted to a rather technical issue known as innocent spouse relief. Basically, the IRS was try...
Nick B.
Final K-1 and TurboTax
Do we have CPAs familiar with K-1 forms and TurboTax? I got a final K-1 from one of my investments (it sold in 2018) and don't know how to figure out my basis and sales price from the information provided on that and ...
Ivorie Walker
Rental License and Inherited Tenant
Hey all! I closed on my first rental property 2 weeks ago with an inherited tenant in Philadelphia. I think I’m in a pickle and could use some guidance. Philadelphia is a city that requires a rental license. The previ...
Brandon Clark
In Escrow on first deal... best practices for what's next?
My wife are in escrow on our first rental property purchase (in the Columbus, Ohio market) and are underway with inspection, finalizing the loan, getting quotes on homeowners insurance, interviewing property managers,...
Danae Meurer
Best Tax Preparation Software
I have always done my own taxes using the forms off of the IRS website. I was considering moving to tax software this year. I would love to hear recommendations for the different programs that are available. I a...