Christian Halsey
% Buying in Chicago %
Hi BPC,I am currently living in Chicago wanting to purchase a residential multi-unit (2-6) building in the Chicago and surrounding communities. I am wanting to do a creative deal as I have experience with terms and n...
Phuong Dinh
Primary Residence/ Capital Gain
Hi,I recently bought a Duplex as a primary residence, I plan to live on one side and rent out the other side.Now I have another plan that i want to sell the Duplex. Since the duplex was under a primary residence loan,...
Joshua Buchanan
Sandwhich lease option help!
I currently have a deal under contract and would like to know if it would be a good sandwhich lease option deal.Property has ARV of 75k-80kRepairs need 12k-15k but property is livable. There is an 8500 lien on propert...
Mitchell Johnson
Can I buy my parents property for only a few dollars?
Hi, I’m a new investor trying to start brrr’ing my first property. Problem is, I don’t have it yet; my parents do. They bought a house and fixed it up but decided renting isn’t for them. I told them I would buy it fro...
Katy King
Selling in under 1 year of ownership
I just bought my first home July 2018, I currently live in half & have a tenant with a 1 year lease(Sept. 1, 2018-Sept. 1, 2019) in the other half. I am considering selling soon. What are my options? Do I have to ...
Nash Mittelman
Boat or Camper for a second home?
My buddy told me he bought a camper and is able to write off the interest because it’s a “second home”…Which got me thinking…. Can I buy a sailboat as a second home, and write off the interest if it has a cabin? What ...
Arif Siddiqi
Distributions from business account
I have rental income that is being deposited to my personal bank account. After establishing legal entities, I have created a business bank account and planning to divert all my rental income to new business account ...
Matthew Paul
So you want to be a Baltimore Landlord ?
Here is some info I found in the Baltimore Sun In 2017, Baltimore landlords filed 142,195 “failure to pay rent” actions against tenants in district court, leading to 67,000 eviction notices and 7,427 actual evictions....
Sam Alex
capital gains exception - sell or keep
Hi,We are close to hitting the timeline for when the capital gains exception would end on our previous residence and are trying to decide whether to keep or sell. If you've considered this in the past what parameters ...
Adem Tahiri
Depreciation on tax returns (rental property)
I sold a rental property this year and have to account for depreciation I took in prior years. Which form of my prior years tax returns would have the correct amount that I should account for recapturing now that the ...