Matt Dines
Tax basis help on $3M California residence inherited b/w trusts!
Hi Forum,I have a complicated tax situation and am looking for general guidance or a referral to a real estate accountant in California who can help answer.Facts:The property is a California residence appraised at $3M...
Rick Jones
How to classify mixed-use property on Sched. E
I'm wondering how to classify my mixed-use property on schedule E. It has 6 units, 5 residential and 1 commercial and naturally it would be advantageous if I could classify the property as residential and be able to d...
Wesley Emison
Tax impact of renovations on a duplex - Useful Lives
Hello BP Community, thank you in advance for reading my questions and providing me with your thoughts.I have recently purchased a duplex and will be renovating both units. I want to focus this discussion on what use...
Chris Yeung
Exit strategy for buy and hold investors
This has sparked my curiousity as I have not done this before. What would be the exit strategy for a buy and hold investor?For example, I buy an investment property for 100K(20k down at 4.5% interest) and rent it out ...
Peter J.
Unsolicited bid for a three-family residential property
Hi BP Members,I'd appreciate any guidance/ suggestions as it relates an unsolicited bid for a property purchase.Context: My brother currently rents from an owner/landlord who owns a three family residential property ...
Kyle Curtin
How do you maintain balance with exercise/workout routine?
Goooood mornin’ BP!Question for you all! This is directly unrelated to real estate, but indirectly related to succeeding in it! Health is such an important aspect to maintain balance in your life in addition to relati...
Kathryn K.
Buying with a Credit Card
Like many folks, I am currently having a hard time financing the purchase of investment properties, even with hard money lenders. I have excellent credit. (790) But I have little cash reserves and a high debt to incom...
DJ Cummins
What a crazy business. Hemorrhaging cash, but feeling positive!
For the money that my wife and I have spent in the past two months, I could have bought a brand new truck, or bought a the camper that we have wanted for a long time. Or an awesome hot tub, which would make my back p...
Jeff McNamee
Tax Implications for Rental Property With First Time Homebuyer Loan
Hi all- I have a condo I rent out that I originally obtained through a first time home buyer loan. Well my lender sent me a letter because they noticed this isn't my primary residence anymore and the loan states that ...
Jada Walker
How To Determine If I Need A New Roof??
Hello Bigger Pockets Family,I am extremely new to real estate and I found some potential properties. All of them need work but how do I determine how extensive the work is? I can tell if the property has mold or water...