Jason Bourne
Critical Situation Forced me to Join
Hello everyone, I am new here, Obviously :-) I don't want to get into extreme detail on how I am in my situation, but I will give you everything you need to know. I am a founding team member of an enterprise software ...
Thomas Johnson
Can my parents loan me down payment from their Heloc?
Hi guys,
My folks have substantial equity in their portfolio and want to loan me enough money so that I can avoid PMI. Is this legal? Can they give me a second mortgage? What are the tax implications?
Thanks!
Mary Chen
investment property tax reporting with multiple partners
Kind of want to see if this is possible or absolutely not (I'm thinking not but just curious what others think). So my parents are doing a 1031 on their old property to buya new one. My brother and I would like to be ...
Craig Fairfield
Series LLC + Insurance Coverage
Need some perspective on insurance coverage as I'm unsure of the advice I'm getting from my insurance agent and lawyer.We currently have 4 properties in their own respective LLC rolling up to a parent LLC. This is in...
Alik Levin
TurboTax, Schedule C, Wrong Federal Refund/Material Participation
Dear all!Hope your tax season going well.I am using TurboTax Self-Employed online to file my day job's W-2 and rental business taxes. I manage my properties through single member LLC.When I am at the Schedule C the lo...
Michael Fortier
Two college kids, one with full year up front
Hello BPI just closed on my first SFR rental house less than a week ago. I put an ad on the popular rental sites 2 days before closing and got flooded with applicants before I could even show it. Yesterday we were clo...
Bud Dwyer
Soliciting an Assisted Living facility to build on parents land?
My Co-worker's parents have about 12 acres South West of Farmington CT. In recent years the area surrounding their house has quickly been developed. A couple of the developers have been Assisted Living Facilities.He...
Account Closed
Starting Out Young with Low Paying Job and Pressuring Parents
I'm Pierre. Im 24 with a BA in FinanceI actually have not gotten a job in my field but went into soccer coaching for which is something I'm passionate about, I would just rather do that as a hobby rather than a means ...
Rebecca Cramer
Going for deal #2! Question bout partnering with parents! HELP!
Hi everyone! We are really excited our 1st investment property, a vacation rental in Ocean City, Maryland, is going so well this year we will have a chunk of change to put into a second investment property this fall/w...
Daniel Sanchez
Renting out our home with my parents on the mortgage
Hi all,
I'm new to all of this and hoping this question makes sense as I"m having trouble putting my questions into words! I also hope this is the correct board for the questions I have. While I was still in college I...