Rik Patel
Investing out of state - Structure/Tax Advice?
Hi All! I'm currently residing in Florida where there's no income tax but looking to invest out of state where there is and had a couple questions regarding the matter.1. Do I setup an LLC in the state I'm investing i...
Bridgette Delva
What was your most creatively funded deal for SF or MF long term?
Hey BPers! I'm hoping to solicit your stories on the most creative ways you've acquired funds for your deals. Primarily looking for those applicable to residential LTRs. So, tell me, what did you do to get the funds...
Angie Oshea
Valuation for Depreciation - Property was purchased under value
I have purchased a property for $10,000 when in actuality the property is worth over $250,000. How do I figure out the land vs. building value for depreciation on my taxes? There is not assessment because the proper...
Ted Swagerty
1031 and seller financing
Hey folks, My friend and former landlord is looking to sell his three rental properties. I would personally like to acquire them but I just bought a house this spring. Is there a way he could sell a house to me and ge...
Alex T.
1031 and a HELOC
There are some companies that allow HELOCs on investment properties. Likewise, a primary residence with a HELOC on it can become an investment property in the eyes of IRS if the owner did not reside in it for long eno...
Victor Spencer II
tax lien property
If I found someone that is willing to sale me their property before it goes to a tax lien auction. Can I put it on a PSA contract and just assign it to a new buyer. Providing all the information on the contract statin...
Javier S.
non-bank owned homes in auction
Hi,I am fairly new to all this. I was looking at properties on auction.com and noticed that there were homes that were non-bank owned. So I am assuming these properties are not in distress (foreclosure, REO, short s...
Mark Creason
1031 Keys
Having spent some significant time working with borrowers buying and selling property who are trying to complete a 1031 exchange, I thought I would post regarding my experience.1031 keys:1. Defer income tax.When selli...
Yadi Molina
real estate practice math question
Can anyone please help me solve this math question? I do not understand it...a bank gives a mortgage loan for 80% of the sales price at an interest rate of 8%. the interest portion of the first month's payment is $192...
Sara Elford
Taxes and investments
I purchased a property under my name but have partners investing. How do I avoid paying taxes their portion of the profit.