So I’ve done a little research and I have seen that in order to purchase a home and receive lending options, you must have 2 years of income verification or show that you were in school for the past two years. Is ther...
My wife and I have a member managed LLC for about ten years. We own two rental properties in the name of the LLC and we own 10 more rental properties in our personal names. All of our properties have mortgages on th...
Many investment firms bought interest cap rates last year when they purchased multifamily properties last year in response to the increasing interest rates because they use variable bridge debt. When the variable rate...
We have 3 rentals, and Turbotax says we made about $27k off the 3 combined last year, so I ended up having to pay the IRS $8k. Currently the tenants pay us directly to our bank accounts. Would we owe less if we set up...
My brother and I own together a few LLCs which generate 200k to 300k profit after expenses, per year. These are for commercial real estate we own. We have been passing this profit to ourselves as a K-1 distribution. W...
In the beginning it wasn't too hard. The property depreciation would usually shelter all the income from my rental properties. Now that these buggers are getting paid off the income is increasing and the depreciati...
So I was reading the BP tax books and a thought popped in my head. I’m 26 and work as an Engineer making decent money, contributing to a Roth 401k. My thought is to self direct my 401k to buy a rental once their is en...
Let's take an example. Let's say a trust deed backed note was issued in August 2005 in the amount of $44,500, with interest rate of 6%, and payments of $266.80 amortized over 30 years. Let's say you bought it in Septe...
Hello all,I'm planning on making my first home purchase soon (within the next 30-60 days if all goes well).I am planning on house-hacking - I have some friends willing to live in with me at the house I buy and they ar...
For my current rental property, I file a Schedule E each year. And I have to track all expenses and income to do so.
Once I set up and fund an SDIRA via transfer from a regular IRA, what are the reporting req...