LuAnn Vigen
keeping track of the basis of a rental
I just purchased my 5th rental and I am in need of some advise on how to set up books and track the basis of this house. I past attempts have not been without problems. What categories do you use? Once the house is re...
Account Closed
buying tenanted properties 30 k and under
Hi All ,
I am going to be spending 150k on properties 30 k or under , my goal is to purchase 7 properties that are all cash flowing.
Once this is achieved I plan to take a loan against the value of thes...
Leta Eydelberg
Real Estate Attorney and CPA consultation: best practices
Hello,We are looking for Real Estate Attorney and/or CPA to consult about best practices for buying and managing investment properties. A little of our background.We are located in North California. We owned one inves...
Account Closed
Different way to structure wholesale deal
Hi all -I have a seller who's not too keen on the idea of wholesaling. I'm about to put his property under contract. The person I'd like to wholesale it to is a friend of mine who I trust. Could my friend and I create...
David McBrayer
I need some advise on a HOA in FL
Hello and thank you for popping in to read my problem. I am an owner of a condo in Winter Haven, FL. It is a two story building with 6 condo's on the first floor and 6 on the 2nd floor. We have a laundry room with ...
Account Closed
Advice on excess 2019 contributions to Roth IRA
Hello all.As I was preparing my tax returns, I realized my 2019 AGI exceeds the IRS income limits for full contributions to a Roth IRA, which carries a 6% penalty for every year the excess along with its corresponding...
Jacqueline Mee
Collecting payouts as a property manager(management/cleaning fee)
My business partner and I started a property management company this past year after managing a friends airbnb/VRBO. There was a little bit of flexibility in terms of how we collected money with our friend at the time...
Joey Cassera
Hiring 7yo son as household employee
I am looking to hire my 7yo son as a household employee. Mainly Supervising his 2 year old sister while were home so we can complete tasks such as cooking and laundry.
I do not own a business. Am I able to do this ou...
Matt Gooding
Would appreciate feedback on potential first deal
I would love feedback on things I need to consider or whether this is a good deal to get started in real estate investing in. Details:-4 different town home units, each unit is 2 bed 2 bath town home. - 90k / unit. 36...
Ryan Collins
Tax Questions - Calling All CPA's
I need help with a tax
question - I bought a house with my father to flip at the end of last year. So,
by government classification we were a general partnership at the time. We
financed the house using a loan in o...