Dustin Lin
Security/Holding Deposit Issues
I got the security deposit from someone and verbally told him this was used to hold the apt for him. But he told me he couldn't take the apt in the last minute before we signed the lease(so we didn't sign the lease ye...
Brian Kohtz
First Rental Tax Implications
Hello all. My wife and I finally found our path to our first rental! We bought a new primary house in November and had a rental contract on our old house that started Jan.1 2025. I plan to consult a tax professional...
Jessica Russell
Title for an LLC
I just formed an LLC. What should I put as my title?
Founder? Owner? President? CEO? Others?
Stephanie Mccolaugh
Separate bank accounts for property
We are purchasing a property that is (1) parcel of land with (2) single family homes on it. We plan on living in one home for 1-2 years as our loan is based on a primary residence, and renting out the other home. For ...
Ed Hoffman
Using a Quick Claim Deed or Warranty Deed to Transfer property from Personal to LLC
I was told that if you purchase a property using a conventional loan (mortgage in your name), that within a month or so after you purchase the property, you can use a Quick Claim Deed or Warranty Deed to transfer the ...
Patrick Menefee
How are non-LLC business expenses handled?
I have 2 properties under contract, one in my name and one in the name of my LLC that I just opened. I have a bank account and credit card I’ve been using so far for the one in my name, and once I get my EIN I will op...
Stephen E.
Checkbook IRA/ Checkbook 401K: Its is Legal or Illegal
I have known about self direct IRA but not Self Directed 401K and 'Checkbook' IRAs. I wanted to take control of my personal debt and let my IRA benefit from the loan but still maintain tax preference.What circustances...
Account Closed
Tax considerations you MAY NOT KNOW about short term rentals
In the realm of real estate investments, the short-term rental loophole offers a unique opportunity, subject, however, to certain rules and regulations. According to passive activity loss rules, every business is obli...
Will Dixon
Underwriting treatment of passive losses from a syndication
I am currently going through underwriting for the first time. I was able to meet the income qualifications for the loan I am seeking, but found it very odd how underwriting treats passive losses for income qualificati...
Mike O.
Cash out refi tax question
Earlier this year I did a cash out refinance on 2 townhomes(both did not have mortgages) and now I have a $500 and a $1000 a month payment. Both townhomes are rentals in my LLC. Are these payments write offs against ...