Jim Adrian
Tax - Is it possible to issue 1099 misc for damages?
In March of 2016 my renters moved out and skipped out on paying their damages above and beyond the deposit that I kept. We had some ugly conversations and wasn't worth taking them to court over $1100 as I figured the...
Ryan Bird
How to pay personal mortgage from LLC account with co-mingling
I have a personal mortgage for my rental but it’s owned by LLC so rents goes to business account. How do I pay personal mortgage using those rents? I read the below approach online and wanted to see if this is correct...
John Krausman
Trustee Sale - IRS redemption question
I am new to Bigger Pockets, but have lurked for awhile. I have a situation I am hoping someone might be able to offer an opinion on.We bought a house at trustee sale a few weeks ago. Long story short, the trustee's ...
Rudy Estrada
Legal / Tax question regarding "partnership"
Hello everyone, I am a new real estate investor. I am currently on contract to purchase a condo in College Station, TX. My sister and I will purchase the condo on both our names and have agreed to be "partners" in the...
Eric Brust
Looking to Refi 4 Unit in Myrtle Beach
Hello BP fam.I have a 4 unit multifamily in Myrtle Beach that I own outright. There are no existing liens on the property. However I purchased this property using a LOC on a long term stock account that I have. I am t...
Steven E.
Subdividing 1 lot into 19... How to value pre/post? 🤔
My wife and I are subdividing a single, 5-acre plot of land in Riverside, CA into 19 individual lots. The goal is to eventually build residential housing on them. We have been working with a civil engineering firm t...
Cheryl Collins
CA C-Corp parenting WY LLC to Parent Foreign State LLC's
Just starting out as RE investors - we have a CA C-Corp started via a ROBS strategy. We are looking to start Flipping in other states (TX, TN, NY, FL etc..) we have the question out to my CA CPA for the C-corp and wh...
Frank Y.
Borrower change from LLC to C-Corp impact on current mortgage
Hello all: We lent money to a LLC (two members) last month, and now the LLC wants to change its structure to C-Corp. What impact do we have to our current Mortgage and Note, or what do we (private lender) need to do? ...
Matthew Schmitz
Do you have to own a property free and clear to put it in a LLC?
Hi everyone, my question is can I have a mortgage on a property and transfer it into a LLC, or does it need to be paid off first, and also I have been told banks wont lend to a LLC if you try to buy a single family ho...
Naoko Potts
Bank loan under LLC vs individual
This could be a question I should have posted under bank loan but since I’m still very green, I decided to post this question here. For my first property purchase, I’m looking into conventional bank loan. My original ...