John Kilhafner
Can I use a property I haven’t rented yet on my P&L?
Can I report a loss for a property I haven’t rented yet because I came across items that had to be fixed ? This property is just now being put up for rent almost a year later because of items that came up and slow con...
Karin Cornils
SDIRA UBIT/UDFI on cash-out refi
If this question has been answered in a previous post, please feel free to redirect me to that post.
The property currently held by my SDIRA is free and clear of debt. If I were to buy a second property in this SDIR...
Jon Mason
General Partnership or LLC
For purchasing properties (buy and hold) with a business partner (not my spouse) is a general partnership or an LLC the better choice?I've always thought an LLC was the way to go, but we were chatting with a lawyer an...
Nick Hulme
Which state gets to take my money?
Hypothetical: I live in California, I have an LLC in Wyoming, and I buy long-term rental properties under that LLC in Utah.Which state collects income tax on the cash flow?If I were to sell a property, which state c...
Kay Kim
Can I use my RE ivestment LLC for my realtor business as well?
Hello, BP families,I do have a multi-member LLC for RE investment properties. Now that I am starting a REALTOR business, can I use the LLC for my realtor business?
Dev P.
Rent vs Sell Advice Needed Urgently
Seeking guidance regarding a property in terms of rent vs sell. Current market value is $900,000, purchase price was $880,000 2 years ago. After selling with fee's, take away would be $855K (900k-45K). All in costs ar...
Ted Sung
California LLC setup for expenses?
Hi All,
I've been pondering about this so I thought I query the forum.
I'm a newbie investor and so far I have not purchased a property yet. However, I've been looking, researching, etc.
I'm wondering if it's feasi...
Connor Mather
Bookkeeping advice and suggestions
Hi Everyone,
I am outgrowing my current bookkeeper and am in search of one with significant knowledge in REI. I have found a few virtual bookkeeping options online and was wondering if these are ok or if I should ste...
Daniel Newman
Single Member LLC vs S Corp?
Hey everyone,I have a RE wholesaling company (LLC) with a partner that's owned by his entity and my single member LLC. We distribute profits from the wholesaling company to our individual entities (his entity and my s...
Scott Anderson
Should I hire a tax advisor? first time filing taxes with an LLC
Last year I began investing in real estate and will need to file taxes for 2019. I have an LLC with 2 single family homes that were both purchased in 2019 and used as buy-and-hold rental properties. Since this will be...