Isaac S.
Cash from seller after close on 1031 Exchange
Hi, i have a 400K 1031 - and i identified 3 properties. In making offers, i found that the properties although listed above 400k, will probably after due diligence come in at 350K. If i sign a contract at 400k (to sat...
Timothy W Hanson
Will rental investments increase my W2 tax return?
Hello Bigger Pockets!
I will be closing on my first investment property next week, it is a 4-plex that will cash flow about $700 per month after all expenses including tax escrow, (etc. even including mowing service...
Jason Mergl
What to do with my Equity?
I'm seeking advice on how to best utilize my equity across multiple properties. Below are the details of each property, including purchase price, current estimate, and equity, along with their respective cash flows:Ho...
Megan Hirlehey
Implications of taking money from one LLC to seed another
Hello BP,I am the sole owner of a LLC I created to buy and hold properties, and I just formed a new LLC with a business partner for some deals we will be working together. My question is, what are the tax/legal implic...
Olga Andrukh
Assessment- how does it relate to taxes
Hello all!I am looking to buy my first multi family but need to make sure I understand my monthly payments to find the best deal. Unfortunately this includes figuring out taxes. I am trying to wrap my head around asse...
Daniel E.
Owe taxes on bankruptcy payments received?
Hello,I own one non-performing note. Chapter 11 plan was approved in early 2020. Do I need to report this income? Will I owe taxes?UPB: $50kLegal: $85k2020 Pmts: $15k*LLC costs related to note (force-placed insurance,...
Derek Caffe
Can you use your RE commission as an expense to pay down mortgage
My question is, can I combine my real estate sales business with my real estate investing business to pay off my properties with my real estate commissions? The goal being to decrease my taxable income and increase my...
Kelly Skeval
Options other than 1031 exchanges to decrease tax implication
Hello. I’ve been in conversation with an owner of a self storage unit who is looking to sell in the near future. We’ve discussed different creative financing options. The option that is most appealing to me and my cu...
Andrew Yu
Expensing vs Capitalizing
I have questions on whether I should expensing or capitalizing my costs on remodeling a property. I feel expensing is always a better option, since it deducts the overall taxable income to the most amount immediately....
Jered Sturm
Why the Wealthy Put Their Money Into Multifamily & Commercial RE
I wrote this blog post the other day and thought I'd share it here to share as well! Have you heard stats such as “80% of millionaires attribute their wealth to real estate”? Or heard stories of living the good life o...