Chris Hughes
Capital Gains on a Rental Property
Hello all! I've been reading on this website for quite some time and it is a treasure trove of useful information. I am posting this to try and help my mom make an informed decision about whether or not to sell an i...
Matthew Jaeger
Taxes on Condo-ized Lot split for ADUs
Good afternoon, This is purely a tax question on what is essentially the sale of dirt after splitting a lot (though of course not that technically). I have a standard Seattle lot, 5950 sq. ft. The house is old, less t...
Eric Andrekopoulos
Investor Off loading portfolio but doesn't want to seller finance.
Hey BP Fam, I currently have a local investor looking to exit his rental business within the next 5 years because he's older in age. So he wants to sell all of his properties. A vast majority of them have 100% equity...
Matt Mach
Sales Tax exemption on flips?
Ok, I've gotten one flip under my belt. We closed in 2017, I've already talked to a CPA regarding taxes and he suggested I roll the income and expenses into the same tax year. I've been reading quite a bit about how I...
Tea Marie
Downpayment vs. 401K savings -how much
Hello,My goal is to purchase my first rental property (non-local) in 2017. I have just reached my emergency savings goal, now I want to save as much as I can for a down payment. Except for my emergency fund, all of m...
Evan Bell
Secured line of business credit
I have a SFH and duplex free and clear in Southern California. I live in Arizona, but have the properties in a CA LLC.
My question is: who will extend a business line of credit using the properties as collateral? I'...
Josh Dickson
How to reduce the maximum amount of income tax for a wealthy individual.
Hello all,I've been flirting with real estate for a long time but due to my low earning potential, thus far I have never felt comfortable taking on the risk. My brother, however; is a lawyer and earns around 700k a ye...
Matt Leonard
New Hampshire Interest and Dividends Tax
Looking for a NH tax savvy investor. I am purchasing a 7-unit in southern Maine in a Maine LLC and I am a NH resident. NH has 5% "interest and dividends tax" on income derived from I&D ("Tax Free New Hampshire"...
Account Closed
Using IRA money to fund first purchase
I work for a bank and during IRA training today it was briefly brought to our attention that the IRS waives its 10% premature penalty on a Traditional IRA distribution if that distribution is used for a first home pur...
Zach Rubin
Extra Payment on first property or waste of time?
Hello community,The wife and I just purchased our first property that will be our primary for the first year or two on a FHA loan. We do plan on refinancing it after that time due to the ideal interest rate we are pro...