Mindy Jensen
Reducing Taxable Income - Shooting Myself in the Foot for a Loan?
I want to reduce my taxable income as much as possible. (Selling stocks and want to avoid long-term capital gains.)Maxing out the 401k is $18,500, standard deduction is $24,000. My question is, what does the bank look...
Joe Schultz
Any tax deduction for new vehicle, my situation?
My income is mostly from rental property (single family) but I still do some residential construction (mostly remodeling).my pickup (07 Tundra has a transmission issue - for now just a check engine light) will need re...
Priyanshu Adathakkar
Real Estate Investors Will Love This In The New Tax Plan
While as a result of the new tax plan signed into law recently biggest financial companies are moving into REI, if you are a commercial real estate investor, here are a few things you should take note of:The full impa...
Account Closed
What's your favorite "formula" when analyzing a potential flip?
In my research I've come across several different formulas people use to determine if a flip is worth the risk. The 70% rule [i]seems to be the most used and discussed (?).
While at a workshop recently I met someone ...
Kenneth LaVoie
Cap improvements vs. operating expenses
A quick newbie question here!
After much great feedback from you and some hand holding from a couple of experienced, generous mentors in my town, I'm in the process of making offers. I have one expenses question tho...
Michelle Kocurek
Late fees
We have a commercial building with renters that are in their last month. We have not received the rent yet (surprise!) and was wondering if we can deduct late fees from the security deposit. Property is in Texas. Here...
Han T.
Issuing Promissory Notes from Individual to LLC
Hi BP community! Hope all is well. Here is my question.I would like to check if it is possible for a LLC to issue (borrow) promissory note to an individual for the purpose of buying real estate. If so, can it be done ...
Alik Levin
HELOC interest deduction - New Tax Law
Dear all,What's the definitive answer - and preferably pointer to authoritative resource - regarding deductability of interest on HELOC with the passage of new Tax Law? I do realize that HELOC interest deduction now o...
Ali Sheik
Hypothetical scenario
Suppose one purchased a 4 plex for $400k and took the standard depreciation for 27.5 years deducting $300k for tax purposes. If I am correct then anything sold above $100k ($400k-$300k) is taxable taking into account ...
Jatin Shah
Property Managers
Hey everyone, I'm looking into my first rental property and I will be using a property manager. However, I wanted to know what a fair deal would be? One of my relatives has hired a PM for their rental. They charge 10...