Eric Northrup
Help! I need somebody...Contractor conundrum
I am new to the real estate investing game with a little under a year under my belt. Currently, we have three properties (1 finished, 2 under renovation) and another one under contract waiting to close. I have learned...
Stephen Nava
What is considered debt?
If my primary home is free and clear, are the home insurance and property tax considered debt? There is no escrow account and it does not show up on my credit.
Anthony Hornbeck
Illinois Homestead Act - Property Tax Section in Lease - Champaign
Hey BP-ers,I tend to have tenants express concerns over the property Tax portion of my lease. Does anyone in Illinois want to take a stab at explaining this section in clear language? Is there a better way to word thi...
Vladimir K.
W2 job and flipping homes and taxes
This is a hypotethical question for me that I did not see answered. As I understand it, buying a property with intent to flip it quickly, for a profit, makes one a 'dealer' in the eyes of the IRS. Dealer is someone ...
Bear Geiger
Tax free land exchange. (not 1031)
I am trying to set up a deal whereby a few vacant lots in a subdivision are exchanged for a house of similar value. Is there a way to set this up without selling each property, but using some sort of direct swap? Pr...
Christopher Brown
Legal entity and business bank
Hello BiggerPockets! So I’m ready to get out there, the only thing I have left to do is figure out what legal entity to choose and what bank to start my business account with.My short term goals are to source enough d...
Frank S.
Spreadsheets: Should depreciation and taxable income be included?
Like many of us, I have created my own spreadsheet calculator to analyze multi-unit properties. I am struggling to understand how depreciation and taxable rental income should be calculated in the spreadsheet.As I cur...
Eric Lilly
NOI not including Mortgage and Property Taxes?
Hey everyone!
Sorry if this is a boring or simplistic question, I'm wrestling more with understanding the concept or reason for this. I'm currently reading "What Every Real Estate Investor Needs To Know About Cash F...
Darius Moezinia
Capital Gain and 1031 exchange
do you have capital gain tax liability if the purchase price of the new investment property is less than the net proceeds of the one you are selling in a 1031 exchange? (Net proceed, includes Escrow fees, Title, 6% sa...
Adam A.
Solo 401K real estate in Kind distribution
Greetings tax experts,I've had my Solo 401k Trust for about 4 years now which grew very fast buying rental properties. I also have other properties not in this trust. Now, I'm at a crossroad of selling my sponsored LL...