John Underwood
STR replacement cost insurance with increased building costs
I just received my Foremost insurance policy for our STR Lake house.We have replacement cost insurance, but the amount seems low in today's costs to rebuild. Our Lake lot is a good chunk of the value but still I wonde...
Elaine Hester
Yikes—entity fees potentially killing my cash flow, help!
Yep—another newbie here, wondering what I'm missing ... I have only recently learned that owning my properties free and clear puts me in a more vulnerable position for liability and know now that I need legal asset pr...
Will Bert
Need help with a tenant
Hi BP I received this text message below today from my tenant. Here is some info on the situation. Her lease has been over for 2yrs now so she is on a month to month lease. In her lease it stated she had access to the...
Lawrence L.
House hacking my CPA says don't claim rental income
I have a one family house renting out the top living in the basement. My CPA says when I file I should not file showing the rental income because if I want to sell then I will not get the 250,000 tax free allowance. I...
Elena Koyun
Negotiating price down after inspection
Hello,We are buying our first duplex. After the inspection about to ask for a price reduction. Since this is our first time I was wondering on opinions of others on how much to ask and how to include the cost of labor...
Kurt Gardner
Renter's Insurance - Should Tenants Have It?
My insurance agent has provided me with wise information on multiple occasions (the greatest money saver so far is to NOT escrow my insurance and bundle my properties when they are geographically located in close prox...
Account Closed
Calling all w2 professionals! What if you could pay ZERO in tax for 2024?
If you have ever used an AirBnB and are interested in investing in real estate, this post is for you! For individuals navigating the demands of a w2 job and grappling with substantial tax obligations, exploring the po...
Seth V.
Loan for Down Payment & Taxes
Hello everyone. I am considering using a 401k loan to supplement my cash on hand for down payment and initial reserves (for a 4 unit investment property). My question is, if I am using my cash flow to make payments ...
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Do I have to report this to the IRS?????
Hello,
Do I have to report my bird dog fees that I collect to the IRS?
Thanks
Lyuba Barrington
No/Low Doc loans for primary residence purchase
Hello!I have a buyer client who is self-employed and has hard time qualifying for a loan. He has enough cashflow in his business, but too many deductions which brings his taxable income to a very low number.He has qui...