Chris C.
1031 exchange residential land to investment property
I purchased a piece of residential land on 2021-01-27 to build on and eventually be a rental property. I'd like to sell it and purchase a built property and have that be the rental property. I will sell the land for m...
Anna Stolpe
Depreciation can not be deducted?
Hi BP community! I just talked to a financial planner/CPA and she said that depreciation of a rental property can not be written off as a deduction if your household income exceeds 150K. I could not find any proof of ...
Matt Gogh
Partnership - Ways to hold title, conventional financing required
Hello BP friends!I am planning to partner with a friend who will provide 20% of money for the downpayment, while I get conventional financing for the 80%. My question is: How do we legally structure the partnership to...
William F.
Chart of Accounts for Gains/Losses: Accounting w Xero
I sold a house, I made $40k after all expenses and whatnot. Not bad for a 3-week flip!!
I'm starting to REALLY track things with respect to gains on the sale of Fixed Assets.
I use Xero (thanks to BP podcast!) - wh...
Duke Giordano
Real Estate Syndications/Funds and Tax Implications
Hello All,
I am looking to dabble in the Real Estate arena and mainly looking at syndication deals as well as Funds that have tax benefits. My goal is primarily to diversify from the market more than a public REIT, ...
Karen Bolyard
Capital Gains Question
Hello everyone,I recently purchased a SFR as an investment property and started rehab this week. Trying to decide whether to flip or rent. I had originally thought I would rent for year and do a 1031 to avoid cap ga...
Alex Bernth
Taxes on cash flow
Hello everyone, I hope y’all are doing well. So since rental cash flow/income is taxed by the IRS, would I be able to use my renovations cost as a tax deduction? Therefore it’s seen as a loss similar to if a property ...
Chris Fincham
Exit Strategy Sanity Check: 3/2 SFH bought at 20% Discount
Greetings BP, I would greatly benefit from a sanity check on my exit strategy for my first property. Expecting a work location change 7 months out and am considering selling this SFH. My question upfront: If you were ...
Aidan Herrera
Is Brrring multifamily a good tactic and is New Jersey too expensive for $250,000?
My name is Aidan Herrera (22 years old) and I live near Hackettstown NJ, I recently went through less than 1 month ago a pain no one should ever experience with the passing of my best friend and father. He was a wonde...
Lee S.
LLC questions
First off, I spoke with my CPA regarding an LLC and I'm wondering if she is correct regarding the taxes on an LLC. She stated that if I were to buy and sell a property under an LLC that the entire gross amount would ...