Joe Arida
Double close vs assignment taxes?
Hi everyone! I'm wondering what the differences would be between a double close vs contract assignment when tax time comes? As far as I can tell for contract assignment it would be income tax + self employment tax. Fo...
Kristian Kotov
What are the Options for My Client?
My Client has following Situation: 1099 Worker; Same Profession the last 8 Years2023 1099 Gross income $87,0002022 1099 Gross Income $134,000 Looking to buy a Condo, SF, or Multi-Fam, and rent out spare rooms & Ap...
Nazz Wang
How is a small multifamily appraisal done?
I would like to ask a beginner question: how is the appraisal value arrived for a small residential or mixed use multifamily property?
The particular property is 8 units with two store fronts. I would like to know wh...
Christopher Ward
Minimum income requirements
Hello, If I would like to rent my SFR for 1600 a month, the minimum requirement would be monthly gross income 3 X 1600 = 4,800. I'm assuming there's 160 work hours per month ( 4 weeks X 40 hours ).If they're making...
Chris Pelletier
I think I found a winner!!
We found a 2 family property asking 115K. We will offer 85K and keep out fingers crossed he accepts. We have spoken to a contractor, for rehab. His estimate is 70K, that includes turning it into a 3 family and add...
Elliott McLeod
Rental Property Expense Formula's?
Hello all,lets talk about rental expense's.. I currently don't have much of a history of managing rentals so I want to get a good idea before jumping into one.Gross rents (assuming renter pays WSG & Utilities)- Pr...
Jason Malabute
FIRST PURCHASE DILEMA
I have kind of a unique problem as I am trying to purchase my first rental property.I am 28 and looking to purchase my first property. I am interested in getting an owner occupied duplex. My research so far has made m...
Matt M.
If I live-in my triplex, do I have to pay taxes on rental income earned?
To my understanding, actually living in the premises, especially being a 3-home or less, will put you into a different mortgage bracket, tax bracket, etc...
Do I need to claim my rental incomes and then pay taxes on ...
Kyle M.
Rental income effective tax rate
Hi all- I am new to BiggerPockets here and investing in real estate. I am looking to get started using an FHA to purchase a 2-4 unit multi family property. As I am running my numbers a few things I would like some ins...
Amy Gardner
Income too high for real estate deductions?
Hello,My CPA recently told me that the $50k we spend last year can not lower our tax burden because I have too high an income? Something seems to be missing here...I have never heard of this on any of the podcasts (I ...