Blake Hege
Checking Accounts for All?
All - I'm hoping someone can help give me some advice on how to set up my bank accounts with some future LLCs, and which banks folks recommend. I have two rental properties and am looking to put them into separate LL...
Andrew Oatman
Rent vs buy personal residence
My wife and I will close on the sale of our personal residence in a couple weeks. We're considering pros/cons of buying another SFR vs. renting. The SFR would tie up a lot of capital that we could otherwise use to inv...
Charles Cruse
Depreciation exceeds income, do i get a refund?
Hi All,
Looking for some sources or answer if available. I am currently working abroad long-term. So I am not taxed in the US on the income I earn from my job. However, I do own a rental property in the US.
I know ...
Colby Wartman
Vacation/Second Home Loan
Last question I promise. For people that have used a second home loan/vacation home loan for short term rental. I have read that through the second/vacation home loan, you are not allowed to have a property manager ma...
Wai Chan
Tax write off for rental property in Turbo tax
I have read about two possible legal ways to write off some of the rental income: Take a partial dispositions of asset for a rental property and use that loss to write off the income in 1040 https://w...
Adam Reiman
Financing question
I have a rental financed through FHA, paying PMI, totally could refi out of PMI but, not sue if I should. Been successfully rented for 4 years. I want to buy a cabin in the mountains, (within driving to work). How muc...
Tyler U.
Non Renewal Notice
I have a tenant who's lease is up in a month and a half on 6/30. I am not going to renew her lease because she has a new habit of paying as late as she can without penalty, a boyfriend living there who is not on the l...
Aashrit Luthra
Negative Cash Flow Impact on W2 Income Taxes
Hi all. I'm looking to buy a new construction home in CA for $750,000 as an investment property (around 8% interest rate) with 20% down. The rent I can expect is $3200. This would surely put me in negative cash flow o...
Melanie Baldridge
Which jobs have the potential to qualify me as a Real Estate Professional?
Here’s the answer:
To qualify as a Real Estate Professional (RE Pro) in 2024, you need to meet certain criteria set forth by the IRS.
Here are some of the key requirements:
1. Material Participation in a Real Est...
Chris Redfield
When to begin owning properties under an LLC?
I'm currently at 5 doors and seeking to add another soon. These first 5 are currently owned by my wife and me, but want to evaluate the pros and cons For those that own properties under an LLC, do you have an insight ...