Natalie Hahn
Good local credit unions or banks for HELOC?
Does anyone have suggestions for a good local credit union or bank in the Bay Area or East Bay? Looking for one that has low rates for HELOCs. Thanks!
Julio Gonzalez
Cost Segregation Study on Hardware Store
If a Cost Segregation Study had not been performed on this Hardware Store located in Clinton, Iowa that was purchased in 2020, it would have had first year depreciation of approximately $23,900. Thanks to the Cost S...
Julio Gonzalez
Cost Segregation Study on SFH in Miami
Without a Cost Segregation Study, this $595,685 Single Home in Miami, Florida purchased in 2020 would have generated first-year depreciation of approximately $22,000. By applying a Cost Segregation Study, the prop...
Brett Synicky
Do heirs get stepped up basis for real property
Here's a question for all you probate attorneys out there. My guess is that it's a softball but google couldn't even hit a slow pitch so here I am. Scenario: Two brothers own a piece of real property together 50/50. ...
Michael Merritt
How much wholesaling revenue for LLC s-corp taxation to work?
How much income does a wholesale business need to generate for an LLC with S-corp taxation to make sense? For example, let's assume my day job satisfies my social security tax and the wholesaling business does the fol...
Pat McQuillan
How to max out write offs for out-of-state investment property
Hi Everyone,I'm based in CA and will be buying an investment property in MA/NH/RI in the next 6 months. I will not be using an LLC and so will pay landlord insurance and be able to make deductions directly from my per...
Jude Welsh
Federal Lien Removal process
I plan to bid on a property in a NJ (judicial sale) sheriff's auction that has a Federal Lien attached for IRS 1040 taxes. This lien is junior to the foreclosing mortgagor, and will be wiped out. The Government was ...
Ingrid Pinilla
Question about capital gains when flipping
Hello everyone!I’m new to the site and have found it very helpful. I’m also interested in REI and am leaning more towards flipping. I have a couple of questions regarding tax purposes. It’s to my understanding that ca...
Account Closed
Potential IRS lien on a property won "free & clear"
Hello - I recently won a property at a Pennsylvania Sheriff's Sale auction. It was auctioned with a "free and clear" title. There are currently tenants residing there who referred me to their landlord (property owner ...
Dav Horn
Foreclosure auction - worth bidding with many liens & inhabitants
I am looking to dip my toe in the foreclosure market for the first time, and would like some help to clarify the many (sometime conflicting) inputs on the status of liens associated with a foreclosed property being so...