Cameron Kirby
Buying a house for Mother In Law
Need some advice. So currently my in-laws are getting ready to sell their house and go their separate ways, while staying legally married. He will most likely need to file bankruptcy here in the near future (credit ca...
Ryan Proffit
Private lending agreement and tax implications
Hello team,My partner and I are currently trying to purchase a value add 8 plex. Our banker will let us do 80/20. We are currently at 15%. I recently found a family member willing to loan us the other 5%. I was thinki...
Jarett Tigges
Question on Gift Tax
Hi BP community,Does gifting money reduce your taxable income? I know the limit is $15,000 for tax free gift, but does it reduce the gifter's income for that year? Say you make $90,000 and you want to find someway to ...
Kyle Alexander
Insurance Coverage on Rentals
Hello all, still trying to get my first property. I'm looking at a duplex in TX, and trying to do some calculations to see if the price is worth it. Does anyone have a rule of thumb that they use for their calculatio...
Rene Garcia
Help with tax question with FHA Loan of 900k at 4.85%
My wife and I make a combined income of nearly 300k in our W-2 job. We don't own any property and are getting killed in taxes. Last year we paid about 60k in taxes alone. Our accountant said that buying a 4-Plex apar...
Lance Lvovsky
Tax Reform: IRS clarifies interest on HELOC often deductible
There seems to be confusion regarding how the new Tax Laws affect the interest deductibility of home equity loans and HELOCs. A lot of folks think the new laws do not allow deductibility of interest on their HELOC. Wh...
Loy G.
Tenant Damaged Walls
Did a pre-move visit on property and tenant pointed out several spots they know they damaged walls in several locations throughout the house. They said they were going to patch and paint them. They are now contactin...
Lakshmi Kotagiri
Insurance renewals quotes are very high - 20% + increase
Hi All,two of my rentals insurance renewal is up in February and the renewal rates are coming very high. 25% increase in premium. I didnt have any claims on these houses. any good carriers in Texas that give competiti...
Asher Knudson
BRRRR: How to Secure Refinance Loan Before Closing?
I'm trying to implement my first BRRRR strategy and I'm wondering if it's possible to secure a refinance loan at 12 months before I close on the deal with hard money?
Mark Douglas
Tenant Vacating / Insurance Claim??
I'm going to give a tenant a 30+ day notice to vacate by September 30. Last night, they had a kitchen fire, causing minor damages. I'm wondering if I should have them file an insurance claim, or just keep their depo...