Terry Price
Private Mortgage Lending & Tax Implications for Canadians
I am a Canadian real estate investor doing business with the United States but reside in Canada. I want to wire money from my United States business bank account to my attorney's trust account in the United States. My...
Account Closed
Advice for someone investing in Real Estate in their early 20's?
Hello everyone! I am fairly new to BP and Real Estate.
I live in Omaha Nebraska. I am 22 years old, recently graduated from UNO where I studied Business Admin with a concentration in Real Estate. I have been working...
Hanyai Bungals
Commercial loan vs residential loan for a 4plex rental property
Hello, long time reader here.My business partner and I have discussed different real estate opportunities, and we have decided to go forward with purchasing a 4plex rental property for around 100-150k.We've spoken to ...
Nick Mainella
Maybe my first deal?
Hey Everyone,So I have a lead from a friend who says the house next to them is for sale by owner. What I gather from him is that it is a group of brothers and sisters that have inherited this house and it is free and...
John Barrows
Credit Score Improvement companies access to your bank accounts
I was inquisitive about these so called Credit Score Improvement companies and how they work. So, I looked into them to see what they could do for me. I was astonished at what I found out about how they operate!1. Whe...
Mike Flora
Delayed financing problem with LLC
Ran into a small problem with a refinancing problem with my LLC, which is 50/50 ownership. Problem was with our cash out refinance at 6 months. Fannie stated that both of our names needed to be on the loan for the cas...
Courtney Nguyen
What is the legal limit on interest rate (over Federal Reserve rate) for private loan
Hi BP community,
So I heard interest rate on private loan can only be 10% over Federal Reserve rate, is that true?
For example, as of now 3/20/2023 the Federal Reserve interest rate is 4.5% - 4.75%. Let say our hol...
Denise Holder
borrowing when 1099
Hello,
Although there are great benefits to being a 1099 employee, borrowing is proving difficult. I need to borrow 20k for a Reno of a cabin in the Allegheny mountains. I went 1099 in January (less than 2 years) a...
David M.
Best Tax Strategy for $100k bonus from sale of business
A friend of mine works for a small laundry mat chain that is for sale. His boss agreed to a 20% bonus upon sale because he is an essential employee and is responsible for the growth and success of the business over ...
Nathan Justus
LLC and banking and EIN and UBI questions
I'm hoping to get clear guidance here on what I need and don't need to do. I'm working backwards here as I already bought two properties under the LLC name. Very much shoot, ready, aim. I haven't got any guidance on t...