David B.
Flipping better than holding for fast growth
Hi all,I just wanted to get your opinions on flipping to grow faster vs holding . This year I've really doubled down on investing and have about 7 rehabs I'm currently doing. Three of them are flips, while the others ...
Kaushik Sarkar
Primary residence sale within 2 years
Hi,I am a single family home investor, however we are looking to sell our primary home in Chicago and moving to Dallas this summer.We have bought the Chicago home in Nov'22. Would I owe tax on the profit I make on the...
Randy Smith
BRRRR Turns Into Tear Down
I’m a REI living in AZ that focuses on BRRRR in Atlanta. I recently purchased a property and ignored the advice of the inspector that suggested a structural engineer (long story). Now I’ve found out I need to scrape t...
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Passive Investor: Depreciation tax break
Hi
Could someone help me the following - As a passive investor, how does one claim the depreciation/losses from the investment property? For example - if expenses are more than profits and you have a net loss, could ...
Jeff Brigham
Taxes for Recent Flip
Hi all,My partner and I created an LLC and are in the midst of completing our first flip. Our business plan and intent is to continue flipping houses to build up capital for larger multi home flips and holds. As a r...
Kyle A.
Dealing With Cash Calls
There are many CRE syndications that will be facing Cash Calls in the coming months/years, and many have already started this process. Just wanted to start a thread on some things to consider if you’re an LP facing a ...
Nicole Heasley Beitenman
First-time deal between my father and I; How do we set this up?
My dad flipped a house that I would like to buy. He is willing to sell it to me at cost. I've been putting away about $500 a month to save for a down payment on my first investment property. Because he owns it free an...
Account Closed
Owner Contribution or Owner Draw account question
Thanks for taking the time to review in advance. I just wanted to get some clarity on proper protocol. On a partnership LLC, when you do a distribution , are you offsetting account for your owner contribution , ( so ...
Peter Min
Cap Gain Tax for Second Home
My wife owned a property before we got married and then moved into my property when we married. Her property is occupied by my mother in law and is now a second property. If we sell her property, will the cost basis...
Bruce L.
Recapture Tax Help
Hi guys,
Had a few questions regarding recapture tax and was hoping someone could help.
1) Recapture tax is a federal rule/law and not at the state level correct?
2) Will you owe recapture tax whe...