Owen Thornton
Do property managers take gross rental or net
I was wondering how property managers take their cut, do they use the net income for the property, or they used the gross income.If A property makes $100,000 a year without deductions, do they take 10% of that, or do ...
Jack Brown
renting home cost benefits
I have lived in my home for 10 years, now i am planning to move to bigger home and rent the present one.I understand that if I sell the home within the next 3 years, there will no be no capital gains tax, I made a pro...
Rhoda Tettey
Security Deposit Refund
Hello Everyone,I have been a landlord for a year now. My first tenant just moved out after a one year lease. He has cleaned the house and there was no damage in or outside of the house. His security deposit was held i...
Tomas Gates
Can you rent a house from your LLP?
My brother and I own properties under an LLP. Would I be able to rent one of the houses? I tried to do this previously under an LLC but wasn’t able to do so.
Daniel E.
Owe taxes on bankruptcy payments received?
Hello,I own one non-performing note. Chapter 11 plan was approved in early 2020. Do I need to report this income? Will I owe taxes?UPB: $50kLegal: $85k2020 Pmts: $15k*LLC costs related to note (force-placed insurance,...
Anna Urbina
Landlord Friendly States-Multifamily investing
Hello All I was interested in getting started in purchasing my new rental. I was thinking of FL, TX, or IN. How did everyone pick a city?Thanks!
Tylyn Corona
Claim rent as income or save it all for future investments?
I am thinking of getting a roommate while this COVID calms down. Do I claim rent as income and pay taxes on it? If so, how do I do that?Do I save it all for future investments? What are your thoughts professionally?
Baahir Starkey
Trying to understand Duplex tax laws ...
If you own a duplex , do you get taxed for each unit you have, since you technically have 2 different residents with different electric and water bill. I’ve have been asking but know can give me an exact answer .
Sam Cain
Developing property with my concrete construction LLC profit.
I am the owner of a concrete construction contracting company who’s focus is residential and light commercial foundations and flatwork. We have well over 6 figures in cash reserves that I would like to use to purchase...
Mike Thomas
Depreciable closing costs
Hi folks,I am sure someone out there knows the answer to this... What are depreciable closing costs?I think this means the seller is trying to get the buyer to pay for the depreciation that he has taken on the proper...