Stephon Rhea
Capital Gain Sales Tax Question
Just recently sold my first flip. What is the current rule on being taxed for capital gain and how can I protect myself to avoid being taxed at a high rate? I've heard that if I buy another investment property within ...
Mike Provencher
HELOC to fund new purchase
I have a duplex and live in one side, currently renting the other...would like to find another place to move to so I can rent both sides. Should I do a HELOC to get at my equity? Seems like it would be much better th...
Austin Works
First hire for flipping business?
I have been flipping houses and small multi-family, while maintaining a day job, for two years now, and I am looking to grow my business. There are many things that I know should be getting done, that I simply don't m...
Joe Einbinder
Question about reserves!
Hi all,So my question is regarding reserves. I’m about to buy my first deal using a HELOC. I also have $20k in reserves. I’m wondering if most people leave those reserves in a basic checking account or move it to say ...
Roy Gottesdiener
ACH and giving access to my account
About to purchase a duplex with a private lender (they seem legit, saw their name plenty of times on BP and good reviews, but can never be too sure).As this is the first time I purchase a property with a lender I'm a ...
Kevin Meehan
What is meant by liquidity reserves when applying for a loan?
When applying for a mortgage loan, it is important to find out the lenders' liquidity requirements before you even complete or submit a formal loan application. Part of the pre-application process at Atlas is to revie...
Matthew Botelho
Tax question on positive cash flow
Hi BP,I have a tax question about positive cash flow money on multi family houses. If I'm making a positive cash from a multi family house and if I continue to keep that money in a business account and don't clam it a...
Debb Childs
Where to put my RothIRA so it does not get eaten up
I am very conservative and do not know much about doing a custodial IRA. My accountant said to take my little Roth IRA (under$150K) and put it with 'Charles' or somewhere that does not have a lot of fees. I am almos...
Cole Phillips
Save blog post
Hello BP!!With all the great blog post, is there a way to save a blog to your account?
Vincent N
121 Exclusion
Hi everyone. I have a quick question. As I understand it, if I lived in my primary residence for 2 out of the last 5 years, I would not be taxed for the capital gains from the sale of my home for up to $250k if I'm...