Bernie Huckestein
Income for renter(s)
Looking to fill my first rental property and looking to confirm the minimum income.I have read in the BP book that we should look for a minimum gross income of 3x the rent. My question is if I have two people (not ma...
John Matarazzo
Do you require both applicants have x3 income to rent?
Hi, rookie question here. I've been trying to rent out my unit (first time, had inherited tenant before), I have an applicant who makes 5x the rent, but far best income of all applicants so far. However, it is an unma...
Francisco Gomez
Divorcee looking to sell fast
Hello bigger pockets!
My friend tells me his uncle is interested in selling, he gives me his number and then I reach out. Once I get on the phone with him I begin listening to how I can help him. He tells me he is g...
David Cherkowsky
Do I need a partnership LLC to depreciate and write off expenses on a rental property
I purchased a rental property earlier this year, and it will be my first year not taking the standard deduction. I met with a tax professional I found through BP, and in our planning call, she mentioned that if you ar...
Chad Deihl
How much umbrella insurance should we obtain?
We own one house and will be purchasing two smaller rental units with cash in the near future and potentially a second home. We have roughly $500,000 in the bank. We will likely start out buying in our trust or an LLC...
Luke Corigliano
Getting married with 2 homes of less than 18 months of ownership
Hey all! I've been a biggerpockets podcast listener for the last 6 months or so and my new wife and I are very interested in getting into the real estate investing game. A little background information that is relevan...
Kyle Gilbert
We hit "the jackpot" and don't want to pay for it!
First thing- my phone will not let me upload my personal info or add a picture but I will work on that.
Secondly- My wife and I have had the opportunity to sell our property to a developer. We have a signed purchase ...
David Disraeli
Community vs. Separate Property - Why It Matters
The concepts and challenges of community property are not well understood and result in confusion and planning errors. Nine states are known as community property states and the others are not. I am only familiar wit...
Lamontis Gardner
Single Member LLC vs Multi Member
Me and my wife have set up an LLC, and while applying for the EIN I was prompted to switch to a multi member LLC. Being that it's just me and my wife, should this be an option for us or should we run it as a single me...
Billy Smith
Mortgage interest deduction on Trump’s chopping block
http://www.cnbc.com/2016/12/01/heads-up-homeowners-mortgage-interest-deduction-on-trumps-chopping-block.htmlThe mortgage interest deduction is already capped at loans up to $1 million if you're married and filing join...