Chris Shaw
Next Step for investing
Hello BP!So I’m in the process of selling my primary home as we speak. I should net a decent amount for the house. The plan is to buy another SFH with FHA (we can do conventional) With the other cash from the sell we ...
Ryan Stockman
Qualifications / Requirements
When meeting requirement such as income, do you go based on combined income of all applicants? Does it change based on relationship? For instance, do you require it differently for a Married couple as opposed to 2 fri...
McClain Gitch
Capital Gains Tax Questions
My wife and I purchased a duplex in July 2016, lived in it for 26 months before using it as a full time rental, and sold it in September 2020. Our accountant has stated that because we claimed it as a rental the last ...
Luke Haverkamp
Is my property a TIC or Join Tenancy?
I'm sure this is an easy question for someone that knows their stuff, but how do I know if I property I bought recently with a business partner is held with joint tenancy or a TIC? I'm trying to figure out if that is ...
Alex Freelove
Section 121 Capital Gains Exclusion
Tax related question on the Capital Gains Exclusion.- I purchased my first primary home in Feb ‘17.- I lived in the house until July ‘19 (total 2yrs 5months)- It has been a Rental from July ‘19 to now. - Roughly $250k...
Robert Wong
Primary to Rental to Primary Tax Implications
Hi, I'm looking for clarification on the following scenario:I buy and live in a house as my primary residence for 2 years. Then, I convert it to a rental for the next 5 years. Finally, I decide to return and change th...
Mark Murray
House Hacking
Newbie to House Hacking here. Please shed some light into this scenario for me. I thought I had read as a married couple, only ONE person of the partnership has to actually "live" in one of the dwellings for a year. I...
Sameer D.
LLC Series Creation Advice
Hello All - I am relatively new investor and ended up with about 6-7 properties in Illinios and Indiana. I have been researching LLC creation and options and both states do support series LLC. Secondly, Illinois LLC ...
Lori Martinez
Sellers of Commercial Property Want Me to Buy LLC. Need advice...
Hello,I am looking for some advice. I entered into a purchase agreement (with 3-4 extensions) to buy a commercial property from an LLC (a married couple and another individual as sellers). The current extension ends i...
Account Closed
Sole Prop LLC & Spouse
Hello BP, My wife and I currently own two rental properties in our own names. We are now in the process of purchasing our 3rd with the plans to BRRR it and refi into an LLC. We live in Pennsylvania.Well, I went to l...