John Sable
New to Investment Property
I bought my first duplex in August of 2021. I pulled money out of my 401 for the 25% down (80K). Payment is $1500/month and rents are 3K. I bought my second Duplex in February 2022. I pulled again from my 401K for ...
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W2 vs. 1099 Income for mortgages
What is the best way to qualify for a mortgage with 1099 income? How can you make it look like W2 income to banks?
Juan Contreras
Is the $25,000 special allowance only for Married individuals?
I would like to make use of the special allowance. However, I would be filing as head of household. Would that mean that I would only receive a $12,500 allowance?
This is what the IRS writes:
Special $25,000 allow...
Todd M.
Personal or Corp loans to Real Estate LLC
Hello,
Seeking opinions/insight into "loaning" from one of my corporations to another from a tax perspective:
Quick Background:
I have a C-corp for software development business. I have an LLC for my real estate bus...
Robert Howard
Partnership proposal and analysis
I would like for a couple of people to give me some feedback on this proposal I have drawn up. The deal analysis link is HERE. The proposal is below:I propose that we start a LLC, create an operation agreement, and F...
Patrick GRibbin
How to use a 1031 exchange
Hello to the BP Universe. I have just started listening to the podcasts and have already learned a ton. I was wondering if anyone could help me out on my question. My wife and I have a single family rental home in Atl...
Larry Nielsen
LLC Tips for Real Estate Investors
Hello, looking for tips on LLC formation for real estate investors. Can I use a previously existing LLC? Would I need to re-write the operating agreement if it was not previously used for real estate? Should I start a...
James Somers
401k or Real Estate?
I know this may be a weird question to ask on a real estate forum (Im thinking the vast majority of responses will be pro real estate), but I wanted to get some different perspectives from the BP community. I current...
Account Closed
Using Business Credit for Proof of Funds for Hard Money Loan
Hello, I'm currently going through the process of attempting to open 0% business credit cards to hopefully potentially use as the downpayment to qualify for a hard money loan, to then use that hard money loan to purch...
Bryan Hancock
Would You Trade Your Real Estate Tax Deductions For a Simpler Tax Code?
I am consistently baffled by the complexity of the tax code in the U.S.
What percentage of the tax "savings" that you realize each year go to pay for overhead associated with preparing returns, planning, advice, etc...