Jacob Sanger
Private Money Lender
Hello everyone. I am excited to become a part of the BiggerPockets community! I am new to the group and new to real estate investing. However, I am in the process of becoming a certified private money broker. I am int...
Dion Martorella
Series LLC and Rentals
Hi,I've been doing some reading about the use of series LLCs when investing in rentals. Just curious, how many of you are using these? From what I've read you can only file these kinds of LLCs in certain states. For y...
Richard Z.
LLC partnership buyback tax question
I have a question regarding LLC partnership buyout tax implication. I'm making a simple LLC scenario for easy discussion.The LLC has three partners A B C. LLC did real estate development project: it bought a land and...
Hattie Dizmond
Quick Tip...Phone numbers in emails
Just a quick tip for all you Networking Beasts out there...There are many people (Yes, that includes me!) who do 90% of everything from some sort of cellular enabled mobile device or smart phone. So, when you include...
Horacio Gutierrez
Installment sale taxes
recognizes an installment sale as a way to defer a capital gain on a property sale. This can save on taxes by avoiding a bump up into a higher tax bracket if the seller had a huge gain." How do you pay less taxes by d...
Robert L.
Journal entry question for owner financed note
I sold a house with owner financing. Buyer put a down payment.I am carrying a note for the balance which buyer is making monthly payments. How would you record the journal entries for this type of transaction in cas...
James E.
Going full time and expecting the unexpected
Hi all,My question to all of you who have made the jump from corporate jobs to investing full time:- EXCLUDING money, what were the biggest / most unexpected challenges you faced? For example, did you miss the social ...
Zak House
Bank accounts for multiple LLCs
So I have multiple LLC with different EINs so Bank of America doesn’t recognize me as one holder and therefore I get additional fees. Feel there service and customer experience are terrible , so looking for different...
Dina Harleth
Are gains from sale of the primary residence taxed at capital gains rate or ordinary income?
I have always thought it was at the capital gains rate, but someone today told me that the gain on the sale of a primary residences is taxed at the ordinary income rate. Can someone clear this up for me? Thank yo...
Mark Beekman
Deferred Payment on House Sale -- Capital Gains Tax This Year?
I'm looking to sell a house that I've recently rehabbed to an LLC for roughly $250k by years end. Then, next year, I plan to have the LLC list and sell the house to the general public.
I want to sell the house to the...