Dustin Awtrey
How am I taxed? Can I pay myself a salary?
So I am working on this project that once I am done will be cash flowing around $5000 per month after all expenses are paid. I want to quit 9-5 and become full time RE investor. I plan on property managing myself as a...
Andrew Carlson
Do you utilize traditional retirement investments?
I searched through the forums, and found a lot of people asking about liquidating 401k/IRA etc. But I could not find anything about whether or not BP members even put money into traditional retirement investments. So...
Dina Joseph
Investing as 1099 employee
Question: How can I invest as a NEW 1099 employee (Ex. independent insurance agent commission only)? My last two years of taxes are from a different W2 job. How can I prove to the bank I can afford a property? I would...
Art P.
Mortgage Interest deduction tax treatment on mixed use assets
Hello all tax professionals on BP, I would like to reach out to the knowledge base to see if any of you have dealt with a similar situation as addressed below and how to properly handle it. Thank you in advance!Topics...
Uwe S.
Tax Lien on propertie - holder want entire pay off
Found an mixed use building with 8 units and a tax lien of $28k on it.
Mostly units rented (2 vacant) and bring in some money. I could buy this house but cant pay off the tax lien, so I asked the lien holder for inst...
Ashley G.
Verifying tax sale validity
How do you verify the validity of a tax sale? In the case that you do purchase a tax lien or deed are there any measures that can be taken to protect your investment (preservation improvements ect). Also is there anyt...
Roberto Westerband
LLC taxed as S-Corporation - Tax Provisions
If an LLC elects to be taxed as an S-Corporation, what are the specific tax provisions that would need to be included in the Operating Agreement in order for that tax status to hold in court down the road? Thanks
Michael Doherty
Closing on 2nd Duplex Should I set up another account?
Hi all,I am closing on my 2nd duplex in December and want to stay organized. Curious to see how people stay organized from a financial standpoint with tenant security deposits and separate banking accounts. Right now ...
Jerrad Shepherd
Realtor gave personal info out
We recently listed our RV park for sale in North Platte Nebraska. Our realtor wanted 3 years worth of tax returns emailed to him so he could share with interested parties upon request. He stressed that our social se...
Dennis Kelly
Separate bank accounts
I'm curious about a financial decision to make . My real estate investing is not a business , I just use all my left over cash for my deals and expenses . Do you recommend keeping a separate bank account for all my re...