Es Lee
Need some direction with a short sale
I am a seller trying to attempt a short sale and need some assistance. I have a 4/3 house in Melbourne FL. Owe $300K with Chase trying to do a short sale for $250K. I have a foreign cash buyer. The home is not listed ...
Catalina Morgan
Property Management was fraud, what can I do?
I feel hopeless, I m in the process of renovation of a Multi Family Home in Dedroit, MI I love the idea of making ugly properties beautiful, but this is my situation I bought this property and took me some months to g...
Jimmy Wilson
Real Estate Professional for tax purposes question
I have a question that I am hopeful someone here will know. For tax purposes, the real estate professional designation is something that is very helpful if you are an investor. Would a home inspector be able to clai...
Debbie Berg
building more vacation cabins as a tax shelter?
Let's say someone had gotten a chunk of money, this year, and wanted to invest it to avoid as much tax as possible. Here's my idea, maybe someone can tell me if or why it is flawed... yep, I'm a newbie. I'll admit t...
Jim Brozny
Should the contractor get the entire payout?
I filed a claim with my insurance company for wind damage to the siding on one of my properties. At the last minute, I called a contractor to meet the adjustor at the property so they could inspect it together. The ...
Sandeep Reddy
Rent or Sell Or Continue Occupy
Hello All -I have scenario and want your experienced suggestion.We own a Condo in Garfield, NJ (Bought 2016) with Payments $2200 (P + I + T + Insu) + $335 HOA = $ 2535/Month. And if we rent this condo it would go for...
Ashneel Reddy
Real Estate Professional Tax Designation By Getting My License?
Hi,I am in a situation where I am unable to claim losses from real estate due to active income being over the limit. If my wife gets her real estate license does that automatically give us the real estate professional...
Lawrence Cloversteed
Selling investment property (Single Family Home) at a loss
Hello all,I purchased a single family home back in September of 2017 in Nebraska. I'm based in Oregon.I put the property into an LLC and planned on renting it out, but I've had horrible luck dealing with shoddy contra...
Ben Lee
Using LLC to offset Rental income against Active income (W2/Capital gains)
From my research, I understood that my rental property paper losses could offset my W2 income/capital gains if: (1) my AGI is under $150k, (2) the property is a short-term rental, or (3) I have a Real Estate Professio...
Greyden Piechnick
My mom says she can’t utilize tax write offs on her real estate?
Hello! My mom owns 5 rental properties. She is telling, me since her and my stepdad make over $150,000, she cannot utilize tax write offs until they sell the property. She is claiming that the write offs will be used...