This is my first year using private money to fund my flips. Do I need to send my private money lender a 1099? Do they send one to me? Thanks for the help!
I've got a seller that is willing to finance about half of the down payment for a property that i'd like to purchase by holding some of the equity back in the sale of the property. I wasn't certain on the tax implica...
Thinking of cash out refinancing some existing rentals to buy more rentals instead of deploying capital on hand. That said I'm having a hard time finding deals due to low inventory. As I understand it once I cash out ...
Being that I am based in the state of NY, it is tougher to organize wholesales due to legislation and attorneys. If I wanted to wholesale properties in an outside state, would that have any extra tax implications.Exam...
I initiated a 1031 on October 18, 2017 (a flip I owned for 4 months), and now realize it may fail. However, I've already filed a 2017 return. Will the sale be recognized by the IRS as a short-term capital gain in 20...
Recently I formed a corporation with three others who are all Canadian in Canada and we made out first purchase. How do I go about understanding the tax implications that will come with doing business in Canada from t...
I am partnering with my brother-in-law on a house flip. I will provide him with the cash he needs to purchase the home with seller financing, I will provide the funds to fund the flip, and we have agreed to split the...
We've just completed our second out-of-state rental purchase and with the recent rate cut our lender suggested a re-finance on our primary residence (he's hustling for money, good for him I guess. lol). That should be...
Hi all, I am thinking of lending money to a friend as a promissory note. From what I understand, the interest on the note is subject to my personal marginal income tax rate. Is that correct?Any ideas on how to reduce ...
We are considering "purchasing" a note from someone who wants to get rid of the downside risk in the event that the tenant quits paying. The tenants in the property pay EARLY every month and have done so for over 4 y...