Leondro Brady
I might fail to close on my first property
After a lot of work and investment, I'm realizing that one key piece of information I didn't know is going to kill my deal: What kind of financial history I need to get a loan.I was W-2 employed in 2019. Self-employed...
Amy Konopka
Addbacks re: Lending for Self Employed/Investors/Biz Owners
I researched the forums and the last time this question was answered was two years ago and only by one person. I have a few other questions-1. I've heard interest, depreciation, even HOA dues are sometimes added back...
Steve S.
Newbie Tax Question
I did a fair amount of reading and binging / googling and couldn't find a specific answer to this question. If after reducing my gross rents by all allowable deductibles, I have $10,000 in remaining profit for the yea...
Patrick Hartnett
Tax Implications of Sale of Multi-Family (Primary Residence?)
I made my first real estate investment roughly 5 years ago, purchasing a 2-Family as my primary residence...living in 1st Floor Unit with my wife and we renting out the 2nd Floor Unit to tenants.
We're about to sell ...
Kerns Churchill
Travel Expenses and Tax Deductions
Hi Everyone,New investor here. Just bought a SFR rental in Mesa, AZ and I am already doing some tax planning. I live in California, so I plan to drive to my rental property and I had a question regarding travel expens...
Turner Monroe
Tax on mortgage interest payments using BRRR
I love the idea of the BRRR strategy, but there's one thing I can't figure out. Don't you lose the ability to tax deduct interest payments on the mortgage after the "Refinace" part of the strategy. Since the loan wasn...
Matthew J.
Tax treatment of a sale of an overseas inherited property
I inherited a foreign rental property from my parents in 2017 and started renting it out in 2018. It was empty for a year. We never lived in or visited the property. I sold it in 2020 for a loss based on the appraisal...
Andrew Hernandez
2/2 Condo in rural Miami Dade, deal or no deal
Hi, I am trying to analyze 1 property a day to practice, but also to find one to purchase. This one is a bit out of the city so I set a conservative rent amount of $1,200 for a 2/2. Similar units in a more dense area ...
Brie Schmidt
Too many loans? HELP
I own 3 properties in my personal name - I want to 1031 one of them into another investment property. The issue is I have 18 commercial loans to my LLC and I am 100% owner of the LLC so they are on my schedule E. My...
Priyanka K.
Year End Tax Question
Hello fellow realtors!I got my license last month and may not have any earning as a realtor this year. I am looking for ideas on how to manage realtor related expenses that i incurred this year!Can I deduct realtor re...