Johny Omaga
CPA or enrolled agent Los Angeles area
Hello everyone! I am seeking a good cpa or enrolled agent in the LA or greater LA area that I can contact in regards to rental properties and maximizing deductions, calculating expenses using different strategies (i.e...
Vania Castillo
Recommendations for accountant in NYC
Hello BP community!Can anyone recommend an accountant in NYC?I'm having a very difficult time to find an accountant familiar with RE investing with good customer service. I worked with one: Great customer service, bu...
Michael V.
Can u double close with liens under the property?
In wholesaling can you double close with liens under the property? If so is it normally the buyer that will put forth the extra money during the closing
Dustin Hope
MAO
OK, I have a couple of different questions, i'm looking ate a single mobile home and trying to figure my MAO. I am Confused on what is the holding caring cost and what is the average percentage to deduct off the f...
Jay Staudt
How To Handle Improvements On the Sale of Rental
Let's say, for example, I put a new roof on a rental and it cost me $7,000. I've since depreciated a total of $2,000 of the roof's cost on my annual taxes each year since.
When selling a rental property, Net Adjusted...
John Hilyard
Need expansion advice
Need help navigating this situation: I have 11 rental houses. All cash flow. Just last year I started full-time into it. I pay myself the contractor fee on each house I fix up myself (5 houses last year). At tax time,...
Della Landfear
Is a home equity line of credit good for cash on fix and flip?
I've used the Home equity line of credit method once in the past which I thought was a good idea. Now rates at my bank for line of credit are at 3.25 so much less than hard money loans. Why or why not would this be a ...
Jennifer Lubkin
Dallas TX Builder's Risk Coverage
Hello, I was wondering if others in Texas are currently having difficulty obtaining Builder's Risk coverage for flips / renovation projects. My agents have requested quotes from a multitude of markets, big and small, ...
Account Closed
Personal Loan to Purchase Property
There is a property I have been eyeing that I am interested in purchasing here in Arizona. The home is an older mobile home that has a fenced lot and is being sold for 23k. While I do have the cash, I do not want to d...
Michael Krober
Damage or Wear-and-Tear - 2 knobs of the gas burner broken
When tenant moved out, 2 knobs of the gas burner were broken. Cost to replace including shipping and handling is $63.15, should it be added to security deposit deductions or is it wear and tear item? Property is in NJ.