Jim Klapmust
1031 splitting from shared ownership
Hi all,Back in 2004, my brother and I acquired a rental property. We split it 50/50 and continue to this day. We aren’t structured as a partnership or LLC, just two bros who bought a house together.Fast forward to tod...
Samantha M.
HUD Listing Period Question
Investors can only bid on properties once a property has moved to the extended period listing. Below is an example from HUD homestore to make sure I have a good understanding of how this works.
1. Example property...
Michael Medaglia
Seeking Private Letter Ruling from IRS
Hi everyone,I found PLR 200745011 which similarly represents my family's situation with some key differences. I want to request a private letter ruling from the IRS on my particular situation but need the ruling reaso...
Jason Howard Marden
Tenant has an Unlicensed Daycare
We have a tenant who is running an unlicensed daycare. Do we incur any liability? There is no exclusion in our rental agreement.
Mary Jay
What is the best way to insure a teen driving a car?
One attorney told me the best way to insure a teen is to put a car into an LLC and have the teen drive it. Then if something happens they cant go after everything that the parent owns in his or her name.Is it the best...
Kristie Buddenbaum
Capital gains exclusion for primary lost when transferring to LLC?
My husband and I own two SFH in western Kentucky; one is a rental that we’ve been working on, the other is our primary. We’re planning on moving out of state by the end of the year. We’re looking at setting up a KY ...
Fabricio James
Key Opportunities in the United States for Investing in Luxury Properties
Key Opportunities in the United States for Investing in Luxury Properties
The luxury real estate market in the United States is constantly evolving, and certain states and cities offer unique opportunities for those ...
Andy Sabisch
Question on agent commission for buyers side
Quick question . . . . looked at a property listed around $75,000. The agent we contacted that we have used on other properties (which were over $100,000) is saying that we as buyers would need to pay the difference ...
John Moksnes
Personal vs. Investment Property IRS Designation/Classification
I am looking to turn my personal property into an investment property and then 1031 exchange into a multi-family home. How long do I have to rent out the personal property (do I have to move out or purely rent a room?...
Robbie Case
Taboo to put MLS listing of my house in the Marketplace?
I have a property listed with an agent. I was considering putting that listing in the BP marketplace as well with additional language expressing my urgency to sell the place. I stopped because I'm not sure if that's a...