Dustin Awtrey
Taxes on rental income
As a regular w2 employee, a general rule of thumb is you will be paying 1/3 of your income into taxes. If you are full time landlord and live only off rental income profits what is a general rule of thumb on taxes y...
Hiro Kitagawa
Taking a case to a small claims or civil court
Hi all, I would like to get some opinions from people who may have had a similar experience.I hired a general contractor to work on a $30,000 rehab job. $15,000 was provided upfront as part of 203K loan. He did abou...
Leor Fay
How to calculate potential profits
Hey everyone, I listed a property at 168KI got a cash offer for 140K w a 2 week closing.Realtor Fees 4% (-$5600)Closing Fees 1.5% (-$2100)Remaining Mortgage ~ 73K (-$73000)That leaves me at $59300If i substract my Ini...
Danny Webber
Schlumberger to Cut 21,000 Jobs- Houston Based Co.
This is definitely going to drive sales/Fc's/Inventory hitting the market in some TX marketshttps://www.thestreet.com/investing/schlumberger-swings-to-loss-and-plans-21000-job-cuts
Andrew Taylor
How often do you actually LOSE money on a flip?
Doing a little soul searching on a long road trip this weekend, and it occurs to me that I'm afraid of failing at flipping houses. My question is, should I be afraid of actually losing money? Or should I be afraid of ...
Joel Betances
Good tenant but lost their job 4 months ago
My tenant is about to hit the end of my 1 year lease. Great tenant that has paid on time until she lost her job 6 months into the lease. I gave her 2 months to recover from her financial loss. She was able to get help...
Monish Lillaney
Filing Taxes as Real Estate Professional
Hey All, I work as an engineer full-time, but I also work full time on my rental properties since I do all the work myself. I just bought a three family this year, and haven't been able to rent it since COVID, so i de...
Michael Plaks
Syndication losses against active income
Posting my response to a client's question, in order to get my colleagues input on this issue.Q: I have an investor who is actively investing in real estate on their own & have no f/t job. So spending enough time ...
Ale Rioja
Qualify as RE professional with full time W2 and single status
Hi BP community, I wanted to see if it's possible for me to qualify as a RE professional or what other strategies are available. I know that to qualify as an RE professional for tax purposes, I must:- spend 750+ hours...
Michael Crump
Advice for starting in Virginia
I'm looking for some advice on how to start my REI career in Northern Virginia and reading through all these options has my head spinning a little. Here's where I'm at and would appreciate any suggestions.
I'...