Jason Rhine
Question: Quarterly taxes on LLC member income
Let's say I am the only member of an LLC and the business makes 20k through wholesaling in a given quarter. If my marketing expenses were 3k, I suppose I would be expected to pay personal taxes on the remaining 17k...
Jessica Baca
New member looking for advice
Hello!Trying to determine if I should continue renting out my house or sell it. Moved about 2 hrs away on short notice and had some friends of friends start to rent my house. They have just been paying me for what I o...
Eve W.
Besides keeping the receipt, do I need to keep the credit card statements?
I keep all the receipts for the business expenses. Do I also need to keep the credit card statement or check copies in case of IRS audit?
Jade Davis
Tracking financials in wholesaling
Hello all! I am new to BP and to REI. Although I won't be getting started for a few months now, I am working to get a stable ground work for what will eventually (hopefully) be my RE business. I know of podio as a gre...
Mark Forest
Fix up costs
I am spending a fortune at Home Depot to get my rental house up to use. I understand I will add the cost of the new roof to basis, but do you all really add costs for leaky faucets, broken bathroom fans, nonfunctioni...
Bryan Patterson
Looking for some advice to consider
I'm seriously pondering leaving my job next year or the year after. I was wondering is 10k enough to get into real estate investing?I could draw that lump sum upon resignation and maybe pick up a night job to keep som...
Chris Sukala
Strange multi
So I found this strange deal. Haven't walked through yet just received info from realtor. So this multi unit is a 6 unit one 1 bed rents for 500, 1 bed rents for 550, 2 bed rents for 575, 2 bed rents for 610, 3 bed re...
Josh Gosnell
Lending Options for a 1099 Employee
Hi Everyone,
I am a 1099 employee (Just finished my first year as a 1099). My original plan was to house hack a multi-family unit with an FHA here in san diego but cannot get conventional funding or FHA loan withou...
Tobias Martinez
House Hacking Question (Bay Area California)
Hey everyone,
I’m in the process of looking for a lender in order to figure out what sort of loan I can get approved for.
After running numbers for some single family homes within the county I am shopping in (Solan...
Jessica Penaflor
First home turning to rental property but needs a new roof
Hello! I want to turn out first home to a rental property but needs a new roof. For tax purposes later, can we claim the roof? Do we need to be making cashflow in the property to claim the roof under depreciation each...