Son N.
Second home vs investment property and 1031 exchange
Hello,I bought a condo (paid cash) near the bottom in 2010 and its current market value is quite good. My parents have been staying there rent-free but they have a new place and so we want to consider doing a 1031 exc...
Conrad Dylen
Hey Everybody. I am a new member based out of New York
I was looking to network with a bunch of investors and wholesalers throughout the long island area. How many of you guys have experience wholesaling or investing in long island that can give me a few pointers?
Raj Sid
New Tax Law May Encourage Home Rentals
https://www.wsj.com/articles/new-tax-law-may-encou...https://www.cnbc.com/2018/02/02/a-big-tax-break-co...How of this is applicable for rental property, if you are renting the whole house? Does this mean 20% of profit...
Nicole Wahl
LLC Taxes
If i've filed personal taxes and listed my LLC as self employment is that all the filing that I need to do since LLC's are pass through tax entities?
Mary Jay
Is it ok to pay mortgages from the property management bank account?
Hi guys,I have a property management company that has a separate bank account and all of my tenants deposit the money into this account. Lets call it "Mary's Property Management LLC"Is it ok to pay mortgages from the ...
Nick Marshall
Structuring an LLC with private money lender
Hi everyone,We are working on our first deal and after sitting on the sidelines for a while and reading all thing BP, we are very excited to have our first offer accepted! We are looking for advice on how to structur...
Joe Lijoi
Tax treatment of LLC with no income but expenses
Hi all!
My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there ...
Norm M.
Mortgage for SFH with grandfathered accessory dwelling
There is a property (SFH) I am looking at that has a rental property (2br apt) in the back yard sitting on top of a garage- the entire property is actually zoned as a single family dwelling, but I was told by the owne...
David Roberts
Structuring partnership exith with cash buyout
Seeking guidance on how best to exit a partnership mid-flip and the tax implications I should prepare for.Detail and timelineI bought a duplex in January for cash - standard closing with the buyerIn May I let a partne...
Amanda Kirk
Have you done house-hacking before?
Hey there! My names Amanda and I’m posting to gather some advice about house hacking, I’m a first time buyer and wanting to of course rent out my other units!I have no experience in renting to tenants, I’m curious to ...