Ab Okoeguale
Hard Making a final decision. Advice needed.
Hello House,I have some savings I need to invest in RE,QUE:Do I buy 3 turnkey properties and rent them out OR Do I buy, Rehab, Rent ,and Refinance a single property??NB: I intend to buy cheap ,then Rahab with my cash ...
Donna Ragan
Contractor Partner vs Hiring Contractor
Hi everyone,I just purchased my first fix-n-flip and am looking for some advice on saving $$$ and hassle.Scenario 1: Partner with a contractor (consists of 2 people) to save on building and split profits (split would...
Bett Zeng
Title transfer from individual to multi member LLC in California
Hello everyone!
I'm looking for advice on the tax implications that come with transferring title from an individual into a LLC with 3 members. A couple days ago I purchased a multifamily up in northern California and...
Mark Vesu
Tenancy-in-Common & LLC
My sister owns a duplex with a friend of hers and would like to get the groups help on two topics1. Can someone refer a good lawyer in California to write/review a Tenancy-in Common Agreement? What can she expect to ...
Pichael Miper Holmes
Transferring property to LLC
Hello, Bigger Pockets!!It is with great joy that I announce that my wife, Piper, and I have closed on our first rental property! We bought a 2/1 in OH and have the property management company in place to get it rented...
Jeremy Medina
Tax Pro Advice
Hi there BP family!
Looking for some advice. Towards the end of last year I used the BP tax pro finder and began working with a tax pro in January to file 2023 taxes and go over tax strategy. I’m just starting my RE ...
Mikey Liu
Cost segregation and how to keep rental losses in future years
Hi all - I understand the benefits of cost segregation in year 1 and how you can front load the depreciation of the unit. However, in future years, isn't the depreciation much less? If so, then how can one still maint...
Russell Buxton
Tax question: Deduction or not?
I own 8 properties. I intended to buy one more. After the inspection, I decided not to go through with the purchase. As it was a multi unit building, the inspection was $2150. Can I deduct this loss against the gains...
Jimmy S.
sell or keep rental?
Paid 70k for the house about 2 years ago and its worth about 135k now. It cash flows about 400 a month but its an old home. Figure I would owe about 15k in income taxes. Rent is $1000 a month.Its very tempting to take...
Greg Teplansky
Selling Fractional Shares of Real Estate on a short term rental
So I am thinking about selling shares (in the future) of a vacation rental property I intend to buy very soon. I am wondering what the tax implications of this are? I intend to hold it in an LLC in the first place and...