John Walter
Corporation vs LLC vs Nothing?
I'm finally getting around to reading the acclaimed 'Rich Dad, Poor Dad' book, as everyone always recommends it. In the book, it discusses starting out establishing a corporation for yourself, as a corporation is noth...
Stephanie Salters
Newbie From NJ!
Hello All! I am a newbie from NJ and so far I am learning a wealth of Information from the BiggerPockets community. I have recently obtained my real estate license while being in the medical field for over 12 years. ...
Thuan Pham
Can I put a personal mortgage home into an LLC?
I bought a duplex and mortgage it through the bank.However, I would like to put this property into an LLC so we can be protected, is it at possible?ThanksThuan
Chris T.
At what point does a Repair become an Improvement?
After just going through my 2013 taxes and now looking ahead to 2014 I have a question about repair vs improvement in the eyes of the IRS. At what point does a repair become an improvement?
I know that if yo...
Roy C.
Terminating Property Manager
My uncle owns a SFR in NC. He hired a PM to handle that property since April 2013. Recently, the tenant of that property lost his job and told PM that he will move out by end of this month since he can't pay his rent ...
Darshan Patel
Whats my orginal Cost or Basis
I was trying to wrap my head around what my tax basis would be for a property. Because i refinanced it from my LLC (multimember to my name), and sold it in few months, what would be the property original cost basis? ...
Bienes Raices
What is the best solution to put on mold
There is some mold behind the baseboards due to water intrusion and I've been advised to remove all the baseboards and clean the mold behind them. I was advised to use a "biocide" but later I found that seems to be a ...
Maggie Thompson
Purchasing 2nd home, apply for heloc or use cash for downpayment
I am a newbie with BP, so apologies in advance for my questions. I've searched around, but need some guidance for my specific situation. Scenario: Looking to buy a primary residence house $360-380K. Rent out a room to...
David Coffee
LLC business and Tax Question
Hello, I am reaching out because I have a few questions about taxes and an LLC:
1st. For Tax purposes; is it better to start a Single Member LLC if you are a married couple and your business is a Home-Based LLC? ...
David G Vreeland
Good Versus Bad Debt (% and Type)
I am trying to identify what should be considered good debt versus bad debt. I gave my specific situation below and would appreciate thoughts and tips on my current situation and at what interest rate borrowing funds...