Carson Wilcox
Starting out... help me understand the tax man
So. I am starting out, working on a deal right now where I will partner as a JV on a SFH with an experienced investor. At the end of any flips we do, I will get a check and a 1099 at year end...What I want to know i...
Andrew Vincent
Using Business Revenue to invest in real estate
I am a complete beginner for real estate investing, but I have lots of interest in starting my path to financial freedom. I current work with my Father who also wants to invest in real estate and we have thought of th...
Vincent Phan
renting out current primary resident - tax incentive
Hi all,
Do anyone know if there's tax incentive when it comes to renting out your primary resident? We lived in for 3 years and already done all the remodeling. Now we need to upgrade to bigger house due to growing f...
Philip Olivier
Where should I get a CPA?
I moved to Pensacola, Fl about 6 months ago for work. I live here now and work here full time. Although, my company is headquartered out of New Orleans, I still have a homestead on a property in New Orleans, and also ...
Mark Erhart
Best way to use equity on seller financed properties?
Hello,In late 2019 I bought out my parents 3 rental properties (5 units) through 5% down payment, seller financing with a 3% interest rate! It was mismanaged at the time and we renovated 3 of the units and raised the ...
Alik Levin
Grouping election Regs. Sec. 1.469-9(g) - sample text
Dear all,Any of you have done multiple rental properties grouping election as per Regs. Sec. 1.469-9(g)?If so, care to share sample text of the letter you sent to IRS? Or point me to proper resources? I don't believe ...
Cathy Chang
Renovate before or after turn the primary property into a rental
Hi, BPers,I plan to turn my current primary property into a rental one within one year. Right now it has 2 bedrooms, after it becomes a rental, I want to renovate it to 3 bedrooms. Should I renovate before or after I ...
Neha Mittal
Buying llc along with property
I came across a property and taxes for that are low. The seller said he will create a new llc and transfer the property to that llc, then I can buy the llc. This way the state will not reaccess property taxes. Is it ...
Shane Welch
How do you prepare for Tax Season?
Hello, I just purchased my first duplex last month. What is your practices for preparing for tax season?Should I scan all receipts, keep in a folder on my desktop? or keep a binder of all receipts?Is excel good a goo...
Jarrett Harris
What to do about Taxes
I'm not really sure which forum this should be in. But my question is, how do tax write offs work as far as repairs and upgrades are concerned? I have read and heard some people say any repair and/or upgrade you pe...