Deborah Drexler
Real property, merchandise, inventory
I keep hearing people say on BP that property is considered "inventory" when it is bought and sold by a house flipper. The corollary to that is that one must report the value of beginning and ending inventories on ...
Carl Shorett
Primary Residence 121 + 1031
I am looking to purchase a house from someone who has owned the property for 20+ years. Their cost basis is ~$250K and the home is now worth ~$2.5MM. This is their primary residence so they qualify for the $250K Secti...
Chris Gordon
Goal: $360K gross a year - strategies to achieve this?
The five year plan is 360K gross revenue a year - so before taxes, operating expenses, etc. So the question is: what would this business look like?Conservative estimate is that 10 rehab/flips a year, as well as a buy&...
Stanley Gray
In a PIckle. VA resident & didn't know I had to pay MD taxes
I live in Virginia and just recently found out that I should have been paying income taxes on my Maryland rental condo property to Maryland instead of Virginia. I moved to Virginia in 1980 so that would be 36 years.....
Grace Porritt
Sharp Real Estate Lawyer in Boulder Area
I need a Real Estate Lawyer in Boulder that is familiar with taxes and real estate. I will also be working with a sale to an MMJ....that expertise may be helpful as well.
Jake Dotson
Getting Hammered on Property Taxes
Hello,
Wondering if anyone is having a similar issue, and what you are doing to avoid it or help compensate for the extra costs. I have two Multi-Family properties that have had their property taxes significantly inc...
Nick Nelson
Starting a portfolio, need advice
Good morning,
My brother and I are starting to build a SFR Rental portfolio in Western Michigan and could use some advice. Thank you in advance for your help.
* In which state should we register our LLC(s) and why...
Thomas Staub
HELP! Looking for top notch, wealth planning tax strategy firm
I have been talking to Tom Wheelright's firm, WealthAbility, and the cost is $15K to get started which is expensive and the agreement they make you sign is 100% one sided basically giving you no protection the product...
Melissa Hayes
Getting life in order- Tax/Financial Advisors
Due to bouncing around all over the country we have accumulated properties that turned into rentals for one reason or another. We are currently under contract in North Carolina where we are selling one rental propert...
Justin Morris
International Investors & Self Directed IRAs
I've got a international investor (Romanian) who is interested in becoming an equity partner in a few of my upcoming projects. Can they set up a SD IRA through Trust ETC for example or is that restricted to U.S Citize...