Jeff Morris
Setting up company/corporation
This is my first post on BP. Looking for best info on setting up company for investing business. 1. is there a one-stop source on BP that I am unware of, or other source I should look at?2. What type of corp is best, ...
Benjamin Swicegood
Renting my house out to buy another house.
Hi BP question... If I am currently renting out half of my downstairs in my home and thinking about renting the rest of house approx 1400 sq. feet would I be able to use that money to help finance another house. In ot...
Eric Veronica
Writing off business expenses as W-2 employee
Wondering if anyone has been as negatively impacted by the new tax laws as I have and looking for a solution. This question is directed towards other CPAs, loan officers or any other commission employees who are paid...
Mathieu Roegiers
Transferring property from one LLC to another // Commercial rates
Hi all,
I have an LLC in NY with one apartment. I have, with my brothers, created a new LLC and signed for a second apartment. We are trying to close since March, but due to covid 19, we are still waiting for the Ta...
James Walker
Looking for lender recommendation in Texas
I have a house under contract, renter ready to move in and my lender is getting squirrelly on me and asking me to make changes to my tax return that I’m not super comfortable with and they are charging $6k in originat...
James Terrell
Simple LLC question
Does your LLC have to be in the state you will be wholesaling in? I’m currently in California and would like to start out wholesaling on the east coast
Chris P.
Cash out refi or Sell while market is high?
Good morning BP. We're looking to expand and up against a decision to refi or sell. We have 3 SFRs that we are debating on doing a cash out refi or selling for a down payment on a larger MFR.If we refi we will still h...
Tony K.
Why would a seller opt for seller financing and 20% dn for fixer?
I'm looking at conventional financing to purchase a property, around 250,000 where I can pay 10% downpayment and get approved for the total amount. While the house needs small cosmetic upgrades, it sounds like it woul...
Bruce M.
Rental property ---> No attempt to rent - Tax ramifications?
What are the tax ramifications of deciding not to rent a rental property and just leave it empty?
This is a property purchased via 1031 exchange, rented briefly, and depreciation has been taken for 3 years.
Long ter...
Emil Degan
How to structure a flip with a partner through an LLC
Hello I'm sorry if this has been asked before but I haven't seen anything on my specific case.Me and another GC friend of mine want to flip a house together. He already purchased the home a few months ago and the titl...