Chad Slater
Solo 401k as a Real Estate Professional
Hi, I am a real estate professional. Can I use my rental income to fund a solo 401k since I'm managing all of my properties? My rentals are held under LLCs.Thanks!
Joe Spinelli
Real Estate Professional - 750 hour question
Hello everyone! I know the criteria to be a RE Professional is 750 hours in RE and more hours in RE than any other job. My accountant told me that I need to spend 750 hours PER PROPERTY which does not make sense. H...
Lizina Green
Seller Financing and Taxes
I have been getting prepared to present a seller financing package but I am unsure concerning taxes and the balloon payment. Will the seller have to pay taxes on the balloon payment? If they sell the property in form ...
Christopher R.
Section 8 Bible
Hello. I'm reading this very interesting book entitled Section 8 Bible Volume 1 by Michael McLean. In this book, Mr. McLean talks about something called preventive maintenance. His philosophy with section 8 landlordin...
Brian Morgan
Me big W2, spouse RE pro. How write off 1/3 LLC losses?
Sorry for the Tarzan title, but I think it covers the bases. So I’m a W2 wage earner in the 33% tax bracket and my wife, who has no income, logged 750 hours on our rental house last year to qualify as a real estate pr...
Brady Lucero
Capital Gains + State & Federal???
I'm a 25 year old Journeyman Carpenter and my wife is a Realtor. We have successfully "flipped" two homes on the side now. We lived in each house two years to avoid capital gains. I did 100% of the work myself, mad...
Dustin Hood
Foreclosure owner decreased - Texas
Hey guys, I’m looking into buying a foreclosure before it hits the auction in Texas. The owner is deceased, therefore the mortgage hasn’t been paid and is now foreclosing. He was divorced, and only his name was on the...
Robert D.
eviction in cook county Chicago, property bought on auction
Does somebody have experience with eviction of non owner occupant in cook county Chicago ? I purchased the property on the judicial sale and looks like somebody lives there. The law in IL states I need to give them 90...
Danielle G.
Introduction and Feedback Welcomed!
Hi! After some major life changes, I have plunged head-first into REI. I went to a couple of local workshops and decided that buying and flipping was too big of a place for me to begin (maybe in the future, I'm not ru...
Fausto Carosella
Version of FICO score
Hey Lender Friends,
Do you specifically know which version of the FICO score you use for qualification? — i.e. FICO score 5, FICO score 8 etc. — Is it typical for a lender to know or not know which one they use?