Chad Gilchrist
Seller Worried about Capital Gains?
Hey BP hive mind! My wife and I are supposed to close on a multi unit (zoned as a 2 unit with a legal 3rd & bonus unit/in law) in Chicago tomorrow. Yesterday the seller (an older man who has owner occupied the pro...
Matt Wells
Does anyone have experience with the Indiana 1-2-3 Tax Cap rule?
I learned this today and just double checking on biggerpockets to make sure it is true."Indiana uses the 1-2-3 Tax Cap rule. In a nutshell, Owner Occupied properties owe 1%, Non-Owner Occupied properties owe 2%, and C...
Bruce D. Kowal
Income tax deadline on Monday October 17 - An important tip!
If you are NOT fully prepared to file your 2021 tax return on Monday, October 17, DON'T FILE LATE!!!!! [IRS calls this "FAILURE TO FILE". It is not a sexual dysfunction]
What you do is to FILE SOMETHING to the best...
Edna Terry
Buying Subject to with a person who has ta liens
Good day beautiful investors, I have a situation where the owner of a condo has rented to a tenant & the owner moved to FL. Only to find that the IRS came to the house serving a Tax Warrant on the owner. The tot...
Anna Watkins
My recent Tax Lien Auction experience in Tennessee - lost, but got an education
I went to my first ever tax lien auction on May 20, in Franklin County, Tennessee (my home county). TN is a "hybrid" state -- if you win the auction, you get a first lien on the property, and if it's not redeemed wit...
Aaron Noltemeyer
Capital Gains Tax on Primary Converted to Rental
I converted my primary residence into a rental December of 2022 after buying a new home. After a mediocre year of renting we've decided to sell. Will we owe capital gains tax on the rental property after just one year...
Jason Riddle
With depreciation recapture, why depreciate an asset at all?
I'm not going pretend that I understand anything about how the tax side of things work, but I was reading this article the other day by Michael Plaks (not sure how to tag people, sorry).https://www.biggerpockets.com/....
N/A N/A
What I think I know about tax liens (am I right?)
This Thanksgiving I met a new in-law who is a Realtor. She and I had a long conversation about tax lien investing and she sang it's praises to no end. It all sounded too good (and too easy) to be true.
Here's what ...
David Cole
Need advice on securing a loan
I currently own a property in Kansas City, Missouri. I live in Garden City, Missouri, which is about 45 minutes drive from the property in Kansas City.The property is currently vacant.I own the home, have no loans or ...
Susan O.
Refinancing after a 1031 exchange? Back to Primary 2/5 yrs?
How soon could I refinance this and if I did would I always have to replace that $500k equity? Would I be able to refinance more than 70% LTV on this property in near future?Can you convert to your own residence in th...