Tim Albright
New Investor - Looking for Tax Mitigation Strategies & Advice on College Town Rentals
Greetings,
My wife and I are just getting into real estate investing. I am retired and working on career #2 and 2 of 3 of our kids have left for college - our oldest is headed to UConn for her PhD (6 years) and inste...
Mark Barnes
Series LLC and Taxes
Looking for a CPA. We are in CA and have a Nevada based Series LLC for a mobile home park we own in the midwest. Series LLC's are not recognized in CA from what I understand so I need some help. Any recommendations?
JT Marlin
Trust deed investment - when can I claim a loss?
I invested in several trust deeds back in the 2005 -2006 time frame. Unfortunately, several of the trust deeds were ultimately foreclosed on. However, there is one trust deed loan that hasn't performed in years, but t...
N/A N/A
New Mexico Tax Deeds
Hello everyone! I am looking into purchasing tax deed here in southern New Mexico. I have read the state statutes (reading state statutes is boring i must say) that pertain to this and have a pretty good understandin...
Danny Scott
Foreign Series LLC in Non-series State
Hello there,Looking to create series LLC in Nevada (series state) for rentals located in NC (non-series state), and register in NC as foreign entity.Since NC does not recognize series LLC, I'm concerned that NC does n...
Robert L.
How to record my owner financed note?
I wholesaled a property and charged an assignment fee of $5800.I took back a note and my buyer is paying me $300/mo a month until the note is paid off.My bookkeeper is having a very hard time how to record this in Qui...
William Hayes
As the owner/landlord. If I remove late fees from my tenants...
I have a question. If I remove the late fees to help my tenants due to COVID... Can I claim them as a loss? And if so, how do I document it?
Lex Shan
Tax: Transferring property from LLC to husband and wife name
My wife and I own an LLC 50/50 and the LLC holds title to residential properties. To take advantage of lower interest rate, all banks require us to hold title in personal names. I was told transfering proeprty from LL...
Tommy Brant
Best Market in FL for SFH LTR?
Hello BP community!A close friend of mine is inquiring on SFH rental properties in the FL market. I'm no expert, so figured I'd reach out to a community that is! 😉Some Background:They want to buy a rental in a market...
Ryan Pyle
Accounting for asset disposal - do I have to recapture depreciation?
When accounting for the disposal of an asset, I'm not sure what to do with the accumulated depreciation and book value of the asset. For example, I replaced the carpet in one of my apartment units. The asset was on th...