Pandu Chimata
Flip turns into long term rental
Hello Tax team, Here is the scenario and I want to understand how the cost elements needs to be treated from taxing aspect?I purchased a property to flip in 2022. The property was ready for a sale in 2023 but could no...
Tanveer Mostafa
New BP'er from Toronto, Canada!
Hi everyone! It's great to join this awesome community that is frequently active and helpful.My name is Tanveer and I am an aspiring real estate investor looking to purchase a property within the year. I listen to at ...
Lynette D Nickleberry
So glad I incorporated!!(?)
Trying to decide if it's time to incorporate as an llc. Share accounts when having an LLc has worked to your benefit. Moments when you said, "soooo glad I incorporated!"Thanks!
Michael M.
MLO license vs Real Estate License
An Mortgage Loan Originator (MLO) license in CA will set me back just under $1,000.A Real Estate sales person License will set me back about $1,000 also.Just starting here and I need income fast. Math is NOT my strong...
Patrick Sears
Originating notes and tax burden
Hello,
Anyone selling/flipping homes on owner-carry as a dealer? No landlord headaches vs holding for appreciation, but wow-the short-term capital gains (ordinary income rate) plpus the self-employment tax b.s. real...
Sam Leon
HOA meeting when owners are not around?
I own a condo unit in a 4 unit building. So there are only 4 unit owners. We have three owners who do not live there but rent the unit out, two of them overseas and only one owner lives in his unit. That one unit o...
Tom V.
Do you self manage your properties? I have a question...
I'm going to hold rental properties in my own name and manage myself, however I'm unsure about whether to manage the properties under my own name as well.I"m not interested in the LLC vs sole proprietor debate plea...
Keith Sharrah
Finding financing outside of the banks
I have been in the rehabbing business for several years. I have gotten my contractors license and would like to get into new construction also. I have a line of credit at a local bank that I use for flipping. Is there...
Michael R.
What Property Taxes can I Deduct
Say I buy a house with 13k delinquent property taxes. If I buy the house and then pay off the taxes can I deduct everything? Even if the taxes were from when I did not own the property?
Joseph Gisler
What’s your biggest save from an inspector?
What’s your biggest save by an inspector? I am a fairly handy guy and a good majority of the items the inspector finds I already noticed during my walk through before offering on the house. I know as I grow my portfol...