Jeremy Tran
Transferring rental properties from Parents to my sister and I
Hey Everyone!My parents are in their mid-70s and are looking to hand over their properties to my sister and I. They have been managing the properties by themselves during their retirement, but now they're looking hand...
Ricky Stafford
Somewhat convoluted sale of main home "tax-free" question
A home was purchased in my parent's name a few years back in 2015. I have been the one living and paying on the house since that time and may end up selling it this year. There will be a gain from the sale. The proble...
David Czech
Can I make someone else a host if I own the property? Tax Implications?
Hey Everyone. So I'm in the process of creating an AirBNB listing but would like to make someone else the host so that they would serve as the primary contact. I would prefer to be listed as the emergency contact in c...
Ann Madara
Ownership, LLC, Land Trust, Tax and Insurance...all rolled into 1
My husband and I own a home that is our residence. We owe less than 30k on our mortgage, we've owned it for 15 years, it is in both our names and has value. 10 years ago his mother deeded her house to only him, indivi...
Chris L.
1031 and NJ Bulk sale
Hypothetical situation: Sale price-500kCost basis-300k-50kdepreciation =250k1-Let's say at closing I want to place 400k into the 1031 and the remainder-100k- I would like to cash out at time of closing. I'm trying to ...
Kevin Carrington
Personal Residence Taxes
Hey BP, I was wondering if you live in a property for over two years and then move and rent it out for some time, do you still get the personal residence tax benefit? Or, do you have to live in it two years prior to s...
Vic B.
Money from 401k to invest in RE.
I would like to get the funds out of my 401k to purchase more rentals. I love this business and think I could do better than my broker. Is there a way to do this and not get hit with a penalty? Leave the RE in a re...
Heath Jones
Should I fire my CPA?
QUESTION: Is $2684.25 a reasonable price for CPA to file personal Federal and State tax returns which included 3 sole-member LLCs, all used for operating multifamily REI properties?BACKGROUND: Last year, my wife and I...
Pollo Diaz
Pulling out Equity From Grandparents Home To start investing, Best way to do this??
Long time podcast listener. Been trying to break into real estate investing. Here is the scenario that I need some advice on. My grandparents have a property in Perris Ca. They owe about $25k on the mortgage. The...
Joseph Henry
Thinking about 2nd primary home but current market does not make sense.
Current home valued at ~850k with 50k left on mortgage. Wife and I are interested in buying a newer home (current home is 25 years old). Wife also thinks the current home is smaller with less closet/storage space and ...