David Cherkowsky
Do I need a partnership LLC to depreciate and write off expenses on a rental property
I purchased a rental property earlier this year, and it will be my first year not taking the standard deduction. I met with a tax professional I found through BP, and in our planning call, she mentioned that if you ar...
Account Closed
New to house hacking
Hello Everyone!I have some questions about house hacking but I thought I would give an intro to give you a better idea of where I am coming from. If you want to just get to my questions I have separated the two. Thank...
Tamir Alush
Being sued for security deposit
I bought a small multi-family about a year ago and inherited a terrible section 8 tenant who constantly complained to Housing dept. about every little thing and made my life hell... Her lease wasn't extended and she v...
Brandon Turner
How did you convince YOUR spouse about real estate's awesomeness?
I'm working on a potential article about this...So, it's rare that two romantic partners discover the awesomeness of real estate at the exact same time. So, if you discovered real estate first, how did you convince yo...
Atampreet Singh
Appraisal came in at 235k, Under contract for 277k. Buyer here! HELP!
Hello all,I am under contract on a 4 bed 2 bath home in one of the nicer suburbs of Detroit, Auburn Hills. I am under contract with seller right now for 277k with 8k in seller credits negotiated upon inspection. Now,...
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Short Sales
Whats the easiest way to learn the short sale process
Quincy Mingo
Purchase 3-unit from Business Partner (Buyout and Capital Gains Tax Liability)
I own a 3-unit multi-family with a business partner. The mortgage is in the name of my business partner. The interest rate is 4.5. We put 5% down when we first purchased it in 2019. The loan is not assumable. I want t...
Michael Leeson
Addressing Racial Disparity in Home Ownership/ Wealth?
What are you doing or seeing that effectively addresses racial disparity in home ownership/ lending/ generational wealth?Hopefully this is a fairly straightforward question about a heavy and complex topic! It's well ...
David Kimball
Nonrefundable Despoit Clause in Offer ?
I am about to make an offer on an AS-IS SKELETON 3-family using the seller's realtor's contract. I'm wondering if anyone has thoughts about this clause in the contract:
"If this Contract is legally and rightfully can...
Brian Jackson
Most positive cash flow cities, tax friendly states, Landlord friendly states?
I am in Southern California and plan to purchase and keep a long term rental property locally even though its cash flow negative and the landlord tenant rights aren't great because I know the area and can do repairs o...