Account Closed
Liens
Hi!We have a seller that wants to sell their rental that was intended for a flip. It was purchased at an HOA auction and he now knows there's a lien on the property and wants out. If we purchase the property (has grea...
Yulia Kaygorodtseva
Requirements for the rent application and employment verification
What are your requirements for the application process? I have put the following list, am I missing anything?Completely filled out Residential Lease Application2 years of employment in the same industryMust have a ch...
Gina Forestieri
Selling my one and only rental
I rented out my original house for 7 years, my tenants have now bailed and I'm done! I am fixing it up to sell asap. I know I will pay capital gains and have to pay on the depreciation. I am trying to find out WHAT ...
Ryan Kenneth
What counts as Cap Ex?
Hi all!What do you guys consider to be a cap ex item?Each month I set aside a percentage of rent collected and place it in a savings account so that it builds up and is eventually ready to go towards the costs of lar...
Mark C.
How to roll up Individual LLCs into a Wyoming Holding LLC
I want to get into real estate investing. Here is my plan and then my questions below:1) I want to buy single family homes across various states with each home having its own LLC in that particular state.2) I want th...
David C.
SDIRA experience - is it really worth the hype?
I have been looking opening a SDIRA. I have read/heard many tout the overall benefits and flexibility of using an SDIRA, but when I looked into it a little more, the SDIRA seemed to lose its luster with several restr...
Darsh Kumar
Purchasing Parents Home as 1st Rental Property
I have been in talks with my parents about purchasing their current home and I'm renting at this time. Their mortgage is too high for them to afford but with my income/credit, I'd be able to purchase their property. T...
Melissa Poirier
CPA in Detroit, Michigan
Hi, does anyone have a recommendation for a CPA and/or real estate tax expert in Southeast Michigan. Thanks!
Matthew B.
Tax Implications of Quit Claiming to Other Entities
I was originally posting this for my parents, but the more I think about it, the more I want to know for myself.My parents have around 15 or so rental properties owned by a single S-Corp which also owns a non real est...
Robert Geiger
Quick 401K loan to cover cash to close
I am currently starting a new job, and I am looking to purchase a house. My new company is giving me a signing bonus for the amount I want to put down; however, I will get the cash 6 weeks after I start. I am trying t...