Jeremy L Riddle
Taking profits on Minnesota LLC
Greetings! My wife and I have 2 Single Family Homes in an LLC with another couple. We've had it for 9 going on 10 years now and have taken an owner draw one time in the history of the company (maybe 2 times) for les...
Matt Said
Split for Flip w/ relative
I already have an LLC with a family member for Buy & Holds but we want to do a flip together. On the buy and hold, everything has been 50/50 on the cash in. However for the flip, one side is putting up all the m...
Marion Coleman
Reimbursement from tenants estate
My elderly, long term tenant died. His only relation doesn't want his things, and apartment is in bad shape. Can't rent until I get rid of his stuff. How can I get money from his estate to recoup my expenses?.
Janna Afanasjeva
Chicago security deposits - is business account enough?
For those landlords who take security deposits in City of Chicago, is a separate business bank account sufficient for the security deposit or do I still need to set up the special landlord account that requires all W-...
Kyle J.
How do you account for interest paid to private investor?
If I get a loan from a friend/family member/private investor, how do I account for the interest on the loan I pay to that investor? I know if I were borrowing from a bank they would issue me a 1099-INT form at the en...
Jon Pool
Is this usury in Colorado?
For the sake of clarity, I am using simplified round figures...
I took out a six-month hard money loan to improve a property I already owned in my personal name (paid cash) for $100,000 nominally, with 5 points orig...
Joe Jude
Took paycut, should I take out personal loan to pay off mortgage?
Ok I'll make this short as possible... I owe 30k on my house. I have 20k cash for a pay off in addition to 10k in savings. I'm thinking of doing a 10k personal loan and using the 20k pay off fund to pay the mortgage o...
Anthony Freeman
How mortgage lenders are paid?
If mortgage lenders are paid by commission there must be conflict of interest issues from time to time.
Shawn C.
Self Directed 401k for Apartment Complex
I am a real estate broker. I want to buy an apartment complex with an old 401k by converting it to a self directed and leveraging debt. I understand I cannot draw on the fund and the gains have to be reinvested. ...
Mitch Polatin
Help: Terrible Experience with Tax “professional” I met here
Any help is appreciated. I met a tax person on this site. And we had a terrible experience. I dont know if I’m allowed to name the individual? I just didn’t want anyone else to get played. I’m also filing a complaint ...