Alex Smith
Insurance Dilemma- being cancelled due to fire
Early in January, our duplex caught fire, destroying the bottom unit. We fully renovated it and placed the tenants. This is our best performing property and I really don't want to sell it, but after getting a notice a...
Eric Chappell
Has anyone use Rental Hero for bookkeeping?
I have been trying to research the least expensive way to keep my records until I build my real estate rentals more. I tried to set up quickbooks online, but without paying $720 a year for the ability to do class tra...
Daniel Umpa
Acquisition Indebtedness for Mortgage Cash-out
I've recently purchased a rental property using cash, but planned a mortgage cash-out to roll into a second investment. After reading about the 90 day rule (see below link) for acquisition indebtedness vs home equity...
Judy Lipinski
Resealing garage roof
Hi All,Im not sure where to post this, but we are preparing to reseal a garage roof for a house that we plan on renting.We want it to be a walkable surface. Are rehabbing / constructions questions best asked here - or...
Terry Royce
Will a new bank account effect my credit?
I'm getting ready to refinance and I was planning on opening a new bank account. I am wondering if it could have any impact on my credit score.
Thanks.
Sal LoGrasso
Tax Question
Hello All, I have a question about taxes.In 2013 I bought a two family (in MA) with my cousin but I got the loan and only my name was on the deed. All expenses/deductions were split 50/50 for the entire time we owned ...
Andre O.
Can My S-Corp Business Buy Rental Property To Avoid Taxes?
Let’s say you own a business and bring in 250k profit.
Can you purchase a real estate investment property (residential not commercial) in cash and effectively pay $0 in taxes instead of 32% from the business side?Th...
Chyniece Cox
What are the best tax benefits?
Hey everyone, tax season is here!What are the best tax benefits associated with real estate investing?Looking forward to hearing from you all!
David Osborn
End of year property purchases
If you buy and renovate a property in December 2019 but don't start leasing it until the following January, can you take any write offs on your 2019 taxes or do you have to add those December expenses to your basis an...
Rich Thomas
Pre-planning for tax purpose: rental or 2nd-home characterization?
I put almost 2-years of searching for a property in Arizona - lots of expenses involved. Made two purchase offers during that time.
The third offer closed and I now own the property - we've stayed there la...