Mike Chubb
Abandon home-taxes owed are more than the property is worth
hello everyone this is a property that I have had on my mind for quite along time can anyone (which I don't think anyone can) tell me if there is any sort of creative idea that works with this kind of problem? What h...
Michael Coe
Is Mileage expense/deduction claimed on 1065 or 1040?
Hello, I procrastinated and now I beg the community for help. My wife and I formed a partnership LLC this year and bought our first property. I have filed the 1065 and did not include mileage expenses in the 1065 sin...
Matt McCain
Sell or pay down underwater SFH in Central Washington
Hi there. New to BP. Wondering if I can pick the collective brain on a tough rental I've been wrestling with for years. I bought a SFH with a partner (who still owns half) in Ellensburg, WA over 10 years ago at the to...
Mariah Foslien
What are the main reason to profit investment on real estate?
Following 10 years of profit and loss, I think real estate is one of the most ideal approaches to earn money and construct wealth. Whenever I tried to invest my money, I always fail. I saw many people who do not actua...
Tyler Henfling
Cash reserves and taxation
When putting together our first multifamily deal, we built in a cash reserve to be used over a five-year hold for such things like capital improvements and unit upgrades. We don't anticipate using all this money in ye...
Michael Zagorsky
Cost Basis and Losses for converting rental to personal residence
We had a tenant leave our rental property in May of this year. We received about $5,000 in gross rent. The tenant trashed the property and we had to spend about $8,000 on repairs. Including new paint ($4,400) an...
Alex N.
Request for Feedback_Not Cash Flowing
All: Really appreciate the community here and the hive mind. I have a few properties in Durham which I obtained as a 1031 in 2022 or so, and they are currently not really cash flowing. Here's a sample monthly for one ...
Alex Todd
REPS status scenario + underwriting paper losses
Hi all - my wife and I are planning on a April 2025 1031 exchange into a larger (for us at least...like 5-8 units) multifamily unit. An idea we have is, I am burnt out from W2 life, and wife makes great money (+$300k)...
Christina Haws
Handyman wants to rent my house before the rehab is complete
Hello! We have a contractor that we hired to rehab/remodel a house for a rental. We had a contract with the contractor that said the remodel needed to be done in 8 weeks with an option to go out 10 weeks if needed. ...
Michael Soriano
Help need bank to drop promissory note for short sale!
Hello Group,
I have a short sale that was approved, however the bank (via pmi) is asking the home owner to sign a promissory note of $50k. The negotiator told me that we have 2 choices either the seller signs the ...