Can someone explain something about the buy, borrow, die concept of avoiding income taxes? I understand that you don't pay taxes on borrowed money. What do you do with the profits from the company to avoid income t...
I received 2 applications for my rental property. 1 of them meet the income requirements (about 5x the rent) but after doing a credit check I noticed that they have 2 accounts in collections (under $2k both) and in th...
Hello BP!I could use your collective wisdom as I try to analyze one of my first few property. I'm looking to invest in a small multifamily property (2-4 units) with the plan to househack for a while. I would like to...
My bank, Schools First FCU says I can do 3% down on a $650k SFH or 5% on a $750k SFH, but if they see that the home is actually a Duplex then they force the Down Payment to be 15% even if I can qualify for 3% Down wit...
Please don't respond to this with, "Ask an attorney or tax advisor." That is a given...I want to solicit comments prior to that.
Scenario: Form a LP to raise money for real estate transactions and structure it so ...
Hello All,
I bought a single home in Minneapolis 2 years ago. If I knew about REI or were I smart enough then , I would have chosen to buy multifamily.
Since I now know about what I should have done back then, here ...
Sorry, this is long, but there's a lot going on here...
Tenant Issue/ Section 8 Question:
I'm in escrow on a duplex that I will live in one of the units on. I am still in my due diligince period, which ends on 11/2...
My wife and I are in the process of purchasing our first investment property! I feel like we have hit a roadblock. We are currently going through the pre-approval process with a local credit union. The bank does off...
I'm still confused what CAP Rate (%) means? Anybody have any good explanation? (with examples? Thanks a bunch in advance.
Hi guys,I think I am starting to understand why Robert Kiyosaki always runs to buy a property when he has an income from his business.Please correct me if I am wrong in my example:Lets say a person makes 100K per year...