Giedrius C.
S-Corp reasonable salary and flipping
Hi all,I read through forums but haven't seen an answer to the question what is a reasonable salary for 1 owner S-Corp LLC that flips houses? Let's say everything is outsourced - houses are bought from wholesalers, GC...
Leah Dunnells
Taxes- How to report rental properties
I am trying to finalize our tax paperwork and I am at the step of reporting the income and expenses of the rental property. I can tell based on the rental checking account what the income/expenses were. How do I docum...
Angelica Rivera
1031 exchange (NC Sale to FL Investment)
Hi BB Blog!I have a single family 2bd/1ba home (built 1940) that's been eating more money than it can make. I've put it on the market for 65K and was advised to do a 1031 exchange. I want to use this money to invest i...
Scott Goulet
Single Member LLC vs Multi-member LLC (spouse)
Hey BP, I hope everyone is doing well. I am in the proess of completing a cash-out refi on a triplex that I own, and I thought it might be a good time to transfer it from my personal name to an LLC. My realtor is sugg...
Ben Glassman
Receiving "Gifts" to help with down payment on 1st property
I am looking to purchase my first property and i am currently going through loan processes. I am aware of FHA and gov assistance loans. But I am looking to place 20%-25% down with a fixed interest conventional loan. I...
Erik Larson
Tax flow of lending your LLC money with interest
Hi all, I'm new here and have started taking the steps towards my new future, leaving the 8am to 11:30 pm IT career behind. I've started getting my ducks in a row and was hit with an idea by my banker of all people.I'...
Eddie Shah
Buying Rental Property by Cashing out on 401K
I am venturing out into buying my 6th rental property and have decided to cash out my 401k < 30k>. I am not sure if other folks here have done it. I will be getting $1000 positive cashflow every all the fixe...
David Mirza
how do banks calculate income for an existing rental
I understand that for a Fannie Mae conventional loan, if you don't have tax returns for a rental, most lenders will count 75% of your rent as income and the full PITI as your debt. The part where I'm not clear on is ...
Oscar Freiman
Using my IRA
Dear all, I need money to start investing, and the only source of cash is my IRA. So, if I want to use the investment cash flow to make my living, is the only option available to cash a portion of my IRA and pay the c...
Jacob Kurian
Property Tax Increase
Hi, I'm a new investor. We purchased a new build home in San Antonio last year. Our Bank has informed us the taxes for the first year were on the land only, but now it will be on the home as well as land for this curr...