James Wilcox
Selling for less than purchase to avoid capital gains
I recently talked to a motivated seller that is interested in selling a small multi-family property. He states that he is looking to avoid capital gains tax and wants to do a 1031 exchange. He purchased the property f...
Elvis Vasquez
Tax Auction HUD Lien
I am looking at a property that has a lien that was placed on it in 1982 (Minimum Housing Standards/HUD). The interest rate for this lien is 18% and there may of been 35 years of it not being paid (people are currentl...
Norm S.
How to buy a pre-foreclosure.
How do I take over a house when the owner is willing to sign it over to me b/c he is behind in taxes and wants to avoid a foreclosure? Hose also needs work. Can I just be added to the deed or do I have to go through a...
Sachin Amin
Tax deduction on rental property expenses (Tax season 2021)
Hello BP community - i was looking at IRS website to see if I can deduct closing costs for all the properties i purchased in 2020
Ref: https://www.irs.gov/faqs/sale-...
FROM IRS Website-----------------------------...
Tone Church
To escrow or not to escrow?
I'm in the middle of two refinances. Optional escrow. I'm curious how you all view escrow for taxes / insurance. I have about $22,000 a year that would be put in escrow. I would like to instead hold that money in eith...
Rich C.
Financing a portfolio of properties
I am wondering if anyone has used the following strategy to finance property renovations or pay down principal.
Hypothetical situation: Portfolio of 5 properties that are currently rented but need renovations if goal...
Jochy Perez
LLC doing business in another state
Hello,Before I go down the road, I want to run this by you guys for advice.I want to file an LLC in NH, however, it will be doing business in MA (purchases, rehabs, rentals, etc).Are there any tax complications or leg...
Dennis C.
How should I improve my current rental property business structure?
I live in Phoenix, AZ and was able to score a great deal on a foreclosure home for my primary residence back in 2009 as a result of the housing market bubble burst a few years earlier. What the market bust also meant...
John Shiraef
Chattanooga boy...just getting his feet wet
Hello Everyone! Man oh man am I glad I found this place! Kudos to Mr Dorkin for making this thing happen. After sifting through all the crap that is out there on the web I can't tell you how refreshing it is to fin...
Arlen Chou
How do you, tax efficently, move money between your REI entities?
Hello All,I am still a relatively new buy/hold investor, but over the past 2 years I have put together a small portfolio of 13 doors. Although I am fairly comfortable with the mechanics of buy/hold, I am still trying...