Michael J. Finnegan
Different means to close a deal - not using a conventional loan
I have been wanting to expand my rental property portfolio. I have found a few deals. I would like to invest into properties with 5 or more units. I don't have the capital to afford the downpayment for a conventional ...
Marcus Gaethke
Tenant violating lease but pays rent on time (Kenosha, WI)
Hello all - Thanks in advance,I have a tenant that moved in in September and I made the rookie mistake of looking past some red flags that occurred right before move in (I know, foolish). Now this tenant is allowing ...
Jason C.
Travel Expenses for Rental Property
Hi everyone, I have a rental property under a single member LLC, so I filled schedule E this year. Hoping to get more clarification/ideas how this travel expense might be deductible:Meeting with a CPA in another state...
Travis Tamillo
Active duty turned Realtor
Hello all, Im about to retire from the Navy and am super excited about becoming a Real Estate Agent. I have been on board with an all military affiliated team with Coldwell Banker Vanguard;The Military Group for about...
Giedrius C.
Passive investor in flipping and self employment tax
I will be a passive investor who will finance the flip and my partner will do all the work and we will split profits according to our agreement.My preferable way would be to buy it in the name of the LLC I own 100%, m...
William S.
Beginning the Journey into Real Estate -New Member Introduction
Hi everyone! My name is William. I recently closed on a property in Bridgeport, Connecticut. It's a condo in an area that is very close to Fairfield and Trumbull. In about 2 - 3 years I would like to ...
Ken Livingston
Business trip tax questions
So I am in another state where I just purchased a duplex on Monday. I drove here and have of course have saved my gas receipts. My question is, is everything on this trip a write off? I am solely here to do some work ...
Jason Sung
Rental property loss toward W2 income
Hi BP community. Last year, I bought two properties and they had losses. My CPA used the loss against my W2 income Is this a normal practice? Based on a BP episode I listened to recently, this is only OK when I (or my...
Eric Forsberg
Scaling when starting up
Hi all…I’d love to hear some strategies about financing when starting off. How do you scale when you’re starting out? For instance, I would like to invest in some buy and holds to generate cash flow. I have both a pri...
Clifford Pereira
Real Estate Professional (REP) Status guidance
Hi, my wife and I started an Airbnb in Sacramento, CA, this year and are new to real estate investing. According to our understanding:1) California does not recognize REP status, but we could claim it on our federal t...