Tony Velez
Suggestions on forming LLC
Hi,We live in CT. My girlfriend and I are about to form a 2 person LLC. Any suggestions on how to go about forming a proper LLC? We plan on buy and hold. Thank youTony V
Joseph Martin
Real Estate professional & income loss
What is meant by “passive activity loss” for a real estate professional? I am currently 37% tax bracket and all passive activity losses are void for me (IRS form 8582).However, it states that “unless the taxpayer is a...
Gjon Rexha
Capital Gains TAX Avoidance
Hello all First post! My firm is purchasing a MF property from this couple in their mid 70s-80s. They purchased the property in 1992 and are looking to avoid paying capital gains tax on the property. What would be the...
Nic Reid
Master Lease Options
Hey BP Wizards!I'm researching and working go get my s#*t together to make a Master Lease Option deal a reality. I've gained a lot of insight by searching the internet, but I think that I'm ready to take my knowledge...
Wesley Pittman
Acceptable "Receipts" for Tax Audit Purposes
Hi,Right now I only own one investment property and find myself already spending more time than I would like cataloguing my monthly utility receipts for the property. I deduct these expenses and want to have proof of ...
Alex Huang
What would you look for in a partnership with a contractor?
I was approached by a contractor who I've had a personal relationship before business. The GC is near my age and we've known each other for many years. He owns a business that handles rehabs and construction for big c...
Jennifer Scheid
Question on Real Estate Abroad, IRAs and Taxes
Hello fellow BPers, My husband and I have been dedicated podcast listeners - and savers - for the last couple years. He is originally from Germany and we've been presented with a great opportunity to take over one of ...
Hament Raju Mahajan
Lending in judicial forclosure states
I would like to know how to lend in judicial states like il, Ny. Where it could take many years to forclose in case of default.
I have been suggested to put a trust together between the finance partner an...
Dominique Taylor
CPA Needed for withdrawing from Retirement Plan advice/help
Hi
I'm looking to withdraw funds from a past employer retirement plan using the homebuyer exception. Any recommendations for CPAs that are familiar with this process? Recommendations, advice and suggestions are appr...
Paul Siu
Hello from L.A.
I came across this site while trying to search for REO info. people seems very friendly and willing to help in this forum. So I decide to join. Nice to meet you all. A little bit about my back ground. I started i...