Javier Carrizosa
What is real net worth when on investment properties?
So the main definition of net worth to my knowledge is, after selling all assets minus liabilities you get your net worth. I believe a lot of times when we try and do a quick net worth calculation for an investment pr...
Iris Tunlaw
Implications of repeatedly paying my mortgage by cash at the bank
Every month I carry cash to my bank branch to pay down the balance of my mortgage, I've been doing it in the last 6 months, because I happened to have cash.I know if I do the same thing to my checking account, it coul...
Anthony Jones
How to manage taxes on first rental
I was approved to buy a second house to live in so that I can rent out where I currently live. I am going to try and rent the house I currently live in for $1700 a month and my monthly payment is $1321. I am new and t...
Diran Deukmajian
Depreciation on rental property not making a profit?
I have a rental property (townhouse) in Los Angeles. The amount my tenant is paying me per month only cover 95% of my mortgage, HOA, and taxes. Because this is considered a small loss per month/year, am I still able t...
Rich Riesmeyer
Seller financing and social security benifits...
As I understand it, if you have not reached full retirement age, 66, your social security benefit will be reduced if you exceed a certain earned income. Rental income is considered passive, so that does not redu...
Mark S.
Bank Account System for Turnkey Properties
If you're buying turnkey rental property in your own name (which will be managed by the TK property management arm), how do you structure your bank accounts?
In other words, since I'm assuming the TK property managem...
Jay Yoo
401k distribution under Cares Act
I found that I can take a full distribution on 401k under Cares Act if it’s taken by the end of 2020. I know I would pay the tax on the capital gain, but can you share what your experience are if you’ve done this? My ...
Jessie Xu
Bank accounts without an LLC
I'm currently mixing rental transactions with my living expense in the same account. I really should stop doing that, but I'm not in a plan to set up an LLC. How should I properly set up my accounts?Should I just open...
Joshua Wilke
Do we need a separate bank account?
We have been reading and learning about real estate for a couple of years, and just bought our first property. Now that we are able to put the learning into practice we are discovering much that we don't know. :)Shou...
Danielle D.
Do I have to be taxed as an SCorp?
Hi All,My CPA is advising that I have my LLC be taxed as an SCorp because I'm an active participant in my fix and flips. To clarify, I have a multiple member LLC (me and my husband). In that LLC, I make some private...