Adeva Edobor
Tax Exclusion on Sale of Primary Residence
I lived in my primary residence for 1yr and 9months since I owned it (I was a tenant in the same house for 2yrs prior to owning it) then I turned it into a rental. If I sell it within 5yrs from owning it, would I be a...
Wade Stahle
how soon can I sell after loan closes?
I want to make sure im not overstepping any laws or guidlines here.I built a house out of cash. Refinanced into a coventiontal traditional mortage. I now have someone who wants to buy it. Can I sell with only lived it...
Krista Harvey
Charleston - Air BnB
Hi,
I am looking to buy a property in Charleston SC to Air BnB and it looks like there are many zoning laws. Anyone familiar with how it works? I see there’s a short term overlay district but within there are differ...
Osazee Edebiri
Investing in California
This is more of a question to get a pulse type survey of BP investors. So over the last couple years plus there has been mass discussion about exodus out of the state of California. We can definitely see trends of whe...
Jerry LoCoco
Limited Partnership Agreement
Hello BP Community!
I have an investor who wants to act as a limited partner (in this case his LLC will provide 100% of the equity, he will get 50% of the profits along with 80-100% of any losses, and he will not tak...
Matthew Kauk
STR loophole for AirBnb
I have an Airbnb that I bought in August of 2023.
Starting in January of 2024. I began to track my hours and where those hours went.
My understanding is that I can use the STR loophole to reduce my wife's taxable in...
Geronimo T.
Attorney retainer fee
I'm im process of structuring my LLC. Currently talking to board certified real estate attorney. Haven't spoken with CPA but definitely will as I expect them to work together to protect assets and make it tax effectiv...
Account Closed
The SELL
What kinds of questions do buyers ask? I have never gone to an FSBO. My real estate hunts have been via a real estate agent, who basically opened the door for me. S/He signed in and walked me through the building, som...
Sean Lauber
Young credit score, just moved to USA
My wife and I have spent the last year or so getting myself a green card and have moved from Canada to upstate NY. We are brand new to this country and have very little credit history but very much want to get started...
Curt Smith
Rescinding real estate professional status, why I'd like to...
I've read in other tax forums assertion of IRS auditing real estate pro's... Just another issue. My guess is that risk comes from actually negating ordinary income with real estate losses in execess of >$25k. ...