Jack B.
Pay off existing rentals or get ready to buy more deals?
I could have 6K a month cash flow after expenses from four rentals if I paid them all off. I can pay them all off and have enough to buy a small house outside the area to live in or buy an RV and travel the country. I...
Devante Boll
How Do You Keep Track Of Income?
Hello BP,What is your recommended way of keeping track of rental income? At the moment, my tenants in my first SFR pay by checks. Am I to keep all of the checks as proof of rental income for a duration of time?I ask b...
Nate Mac
Flipping- Repairs in 2018 are cost basis for Sale in 2019?
Background: Created LLC partnership in 2018. Purchased a Home to renovate in 2018 and sold it in 2019. Purchase Price: $60,100 In August, 2018Renovations: $30,000Utilities: $ 2,000Property tax: ...
Adam L.
LLC taxes on a Limited partner equity investment?
So not sure if this is in the right subforum.So I and 3 friends created an LLC to invest in a larger RE operation. The big company buys 500+unit apartment complexes and BRRR's them, offering 'shares' as Limited Partne...
Chris Martin
Simple depreciation explaination
This was taken from a PM to a colleague.... After writing it up, I figured I'd put it here for your entertainment;) About the tax comment in my post...This is a simple example. The numbers are to show the point. Don't...
Lucas Pfaff
How do YOU get paid?!?! - From your LLC/Entity
I'm a bit stuck in trying to determine the best way for an investor to get compensated for their efforts in an LLC. I am part of a 2 member LLC in Philadelphia, PA. Originally, both members were operating under an und...
Richard Adjou
Unused LLC
hey BiggerPockets community, I'm just getting started in real estate and following popular belief, I was under the assumption that for tax and liability benefits the first step was to get some corporate entity set up ...
Patrick Flanagan
How to make your tax accountants job easy!(ier)
What are the top things I need to be doing to make my tax accounts job easier? What systems do you utilize in your small or large real estate business to track and log all your real estate transactions. 1 to make your...
Brent M.
Possible Next Deal!!
Seven fourplexes (28 units) near the beach in Florida. Seller has provided 3 years of tax returns and all related documents for expenses. Appears to be very stable property, decent condition, in a B/B+ area.Price- $...
Shakeb Syed
Hold or sell a house in La Porte, TX?
Hi BP,Real estate and BP newbie here. I have a house in La Porte, TX (inherited) that I am trying to figure out what to do. I ran the numbers using the BP buy and hold calculator and the numbers are not pretty (showin...