Jen Gainer
Flipping with partner, only my name on house, who pays tax?
Hi. I may buy a short sale home, I will sign the mortgage alone. A partner who is a broker will fix it up with me and then we will resell in a year. He says we will split the profit of the sale and write it in our set...
Keith Meyer
Tax Advice Needed (willing to pay): Loans proceeds in S Corp
I'm looking for some expert tax advice on this situation and willing to pay $$ for it. In essence, we've recently received loan proceeds into an S Corp which is a single-asset entity owning a large commercial property...
Brendan M.
What are the tax implications of paying myself to property manage?
I just bought my first multifamily property and I have been thinking about how to maximize my tax benefits on it. If i can write off property management fees as an expense, can I pay myself (either as a sole proprieto...
Allen Hua
Mortgage escrow has been paying wrong account for my property Tax
I am currently living in CA, invested in a townhouse with my wife in 2017 in the Seattle downtown area, currently occupied by renters. We are currently in the process of looking into refinancing for this property wh...
Denise Ortiz
Bought tax lien, deceased owner in probate, who pays med bills?
Hi, So I just got the OK from the govt to start foreclosure on a tax lien... I've done this b4 and have an attorney but I would love a response before the weekend is over because I am FREAKING OUT! She passed away in ...
Jessica Chow
STR under LLC- how to pay the least amount of taxes?
Hello BP family!My friends and are thinking of investing in a STR in Palm Springs, bought under an LLC. Our biggest question is how to structure the exit strategy in the operating agreement, and the best way to distri...
Russell Buxton
Pay down mortgage or use interest deduction to limit taxes owed?
I would love advice on this investment question. I currently own 4 properties that I pay approx. 5k in total in mortgage interest payments per month. I could easily pay off all my mortgages and own all the properties...
Justin Hennig
When does Seller Pay Taxes on Contract for Deed / Land Contract?
When an owner sells their property on a contract for deed, do they pay taxes on the whole amount at the date the Contract for Deed is signed and put into place, or after the CD is satisfied and deed is actually transf...
Jason Switherspoon
Do I have to pay gift tax on a discounted house?
My cousin had her house appraised for $275k. She is going to sell it to me for $235k. Are there tax implications that I will have to face as a result of the discount?
Josh Thomas
NPN 1st with unpaid property taxes, how to pay them off
I'm looking at two non-performing 1st notes with substantial unpaid property taxes that will be sold at tax lien sales in April. What is the procedure to pay the taxes as a new loan to the borrower? Where can I read u...