John Hastie
HELOC: Is interest deductible on primary residence?
HiI live in California. I took out a HELOC on my primary residence and used the funds as a deposit on another property which then became my primary residence. The previous primary residence was converted into a renta...
Jeremiah H.
Not sure what to do with a house with equity and need advice
I purchased a SFH for my primary residence about 3 years ago via short sale. Purchase price was 133K, I put down 20% with a 2.99%APR on a 15 year loan. I owe around 90k on it currently and it's worth roughly 180k. We ...
Phillip Trujillo
Shall we pull the trigger? - Owner financed deal in middle GA
Good morning Bigger Pockets!
My family and I are moving to GA in January (I’m active duty USAF) and we are looking for a home. I stumbled across a property listed FSBO on a well-known military "yard sale" type site...
Andrew B.
Receipt for Rent- Income Tax Question
Hi All,
I just have a fairly simple question. First off, landlording has been great for me so far in the year and a half that I have been doing it (knock on wood). The problem is I have not done my taxes for 2011 ( ...
Patrick Mulligan
Need advice on 2 possible lending scenarios for 2-4 unit property
Hello,I have 2 scenario's I need advice/guidance on regarding financing a 2-4 unit income property. Thanks in advance!---------------------------------------------------------------Scenario #1: 65 y/o retiree. Owns a ...
Tim Barry
Selling half a property to partner?
Hey all,
I purchased my first rental on my own and then teamed up with a partner (family member) and have bought several more 50/50.
I was wondering what needs to be done to sell half the one I own to him?
Can we ...
Earl Stewart Jr
Filing taxes for 1st flip project bought with Scorp. Which forms?
Purchased property in 2017 and sold in 2020. It was bought under my S-corp. I know that S-corps file 1120s but where does the sale of property go? Schedule D or Form 4797? What about the closing costs? I should includ...
Waylon Zook
Would you rent to me ?
I have a hypothetical question....I was reading a post earlier where previous landlord and employment verification is strongly recommended. My personal situation is I have never rented and own my own home. I am self e...
Leah Fisch
Best way to deduct early business expenses?
Working with @Mark Updegraff and getting ready to (hopefully) purchase my first investment property.My plan is to purchase and THEN put the property into an LLC.What is the best way to track and later deduct business ...
Jai Nigam
Traditional Mortgage with LLC
Hi, I am fairly new to the real estate investing game and looking to purchase my first property soon, most likely a single family home.
I've been reading up on holding companies to create but learned that banks gener...