John Mucilli
Contracting houses with tenants
Do you enter contracts to wholesale houses with a tenant currently in them? If so do you add terms that it must be delivered vacant, or do you disregard it in hope that you can find a cash buyer that would want the re...
Jim Bentley
Self directed IRA questions
Hi, I'm planning on creating a self-directed IRA with checkbook control, and moving enough money into it to purchase two rental properties. I've talked to and read information from several LLC SDIRA companies (Broad/...
Keith N.
Tenant Wiring
I've been renting houses and duplexes for almost 12 years now, and this is the first time I've encountered this problem.I have a 3BR/1BA SFH that 3 guys in their 20's-30's started renting about a year ago. When they ...
Account Closed
BP Rental Calculator Doesn't Include Property Taxes?
Edit: Disregard. I was confused about how the calculator asks for annual property taxes at the beginning and then calculates it as a monthly expense. I had deleted the annual number and didn't realize that it automati...
Steve Podwojski
Can you go from an LLC Partnership back to a sole owner LLC
I have owned a LLC partnership for 6 years in Maryland that owns rental properties and filed tax returns. If I convert it back to a sole owner pass-through LLC will it spark an audit?Also, can I set it up so that my ...
Avrohom Roth
1031 Help - new property financed with a mortgage
Client Sells a property (which was owned by his LLC #1). LLC #1 then takes the proceeds and distributes it to LLC#2 which is fully owned by LLC#1. LLC#2 uses the funds to purchase a property a complete the 1031 ex...
Brendan Scully
Selling to LLC for Capital Gains Exception
I have a rental that I lived in for two years. It has been a rental the last two years and I plan to sell it soon in order to take the capital gains tax exempt. However, I would like to keep it if possible. I have ...
Gerald Marshall
Capital Gains Question.
We are selling a property that still in my wife's former married name, and looking to turn around and reinvest it in a new piece of property under an LLC. Is there a way to get around the "same name" rule of the 1031...
Erik Williams
Should/Can I transfer my Multi-Family property in an LLC
I am currently under contract to buy my first Multi-Family (4plex) property and actively looking for my second property. Because of 1031 exchange rules, I have to make the purchase of the property under my own name, ...
Tess L.
Accounting Help! Transferring properties between my companies
Hi Everyone!
I’m a fairly new investor, I have some accounting questions I hope you can help with, because I’m tying my brain up in knots trying to work it out.
I came racing out of the gates and bought 5 houses in ...