Account Closed
Does anyone have suggestions for who to use to obtain a HELOC?
We would like to have a HELOC available in order to make offers when a home that is worth it becomes available. Is this a wise strategy? My wife and I have a goal to rent our current home out and pick up a fixer upper...
Russell Brazil
Government Shutdown Now Affecting Real Estate Closings
This is not a thread to debate the government shutdown (political discussion is against the forum rules), but rather just a warning to people that I just ran into an issue. 10% of our workforce is government employee...
Michael Upshur
OCC’S CURRY WARNS BANKS EXPOSED TO “FROTH” IN MULTIFAMILY MARKET,
OCC’S CURRY WARNS BANKS EXPOSED TO “FROTH” IN MULTIFAMILY MARKET, DISCUSSES FINTECH.Reuters (5/16, Lambert, Crimmins) reports that on Monday Comptroller of the Currency Thomas Curry spoke before the Reuters Financial ...
Ashish G.
Short Term Rental Income Schedule E and AB150 SALT taxes
HiI have W2 income and short term rental income reported on Schedule E. I file jointly with my wife. Has anyone figured out a way to leverage AB150 SALT tax workaround in this situation to pay California taxes? May be...
Mel Davey
Flood zone restrictions on our flip
Hi all, great site and many helpful resources. My first post, thought I would share some info on my recent (still in progress) flip. It's our first flip, but we own 3 other properties that we rent.Found a good deal ...
Larry Flanagan
Reduce income tax bill
Besides making less money, what are some good ways to reduce my income tax bills? I mostly flip & wholesale, so my income is primarily taxed at short term rates. Between state & federal last year my tax bill...
Ryan Ladson
Looking gor local bank in SC/NC.
Does anyone have any local bank suggestions to open my business bank account in the Rock Hill, Columbia SC region possibly with a branch in Charlotte, NC also? I am looking to open it at a bank that has good terms for...
Madeline Burkholder
IRS Real Property Auction?
Hi everyone! I am a real estate agent in the twin cities area of MN. I got a call today from a revenue officer with the IRS asking if I’d be interested in being a guaranteed bidder for a foreclosed property that the I...
Art Maydan
Being Paid Through LLC vs. Personal
In addition to property management, I do hourly work for a rehabber. Would it be better for them to send a 1099 to my property management LLC or to my personal name? Both are justifiable since I end up managing the ho...
Will Kern
Question about setting up a corporation in Nevada
Can someone explain this to me?In "Rich Dad, Poor Dad," Robert Kiyosaki says "The reason I minimize my income is I don't want to pay it to the government. That is why my income comes through my asset column, through a...