Cyrus Sidhwa
Property Taxes on a Flip?
Let's say an investor buys a property with a HML, fixes it up, and flips it 3 months after the purchase. Does the investor pay a portion of the property taxes? Would you have to pay those taxes when you close on ...
Daniel Wetz
Let's say we're playing monopoly...
Alright y'all... I have a question that needs answering. My wife and I just got our first single family home rented out to a lovely couple. We pulled out all the bells and whistles by setting up the extra security and...
Becky Haag
Which Entity to use for Short Term Rentals?
If you have short term rentals which entity are you using? I’ve heard LLC and S Corp? What advantages and disadvantages have you come across for these two entities. Thank you!
Jorge Jimenez
Can I use a 1031 to buy the rest of a bldg. I partially own?
Hi all!this is my first time posting so if I goof on etiquete or post something in the wrong place let me know! Thanks. I own a 8 unit apartment building with my sister as tenants in common. I would like to buy her ou...
Suzanne HAINER
paying personal cash now instead of waiting for llc/s-corp
Hello!Finally taking the plunge into the "Flip or Flop" world! Hopefully, no flops!My partner and I are in the process of waiting for the paperwork to be processed for our Llc/S-corp that our CPA recommended we set u...
Roy N.
BoC drops overnight rate to 0.50%
The Bank of Canada (BoC) announced Wednesday morning (2015.07.15) that they have lowered the overnight interest rate by 0.25% to 0.50%. The reasoning behind the move is the BoC has lowered its outlook for Canadian gro...
Suzanne Douglas
First Time Owner Occupant Transition to Eventual LLC Investor
I'm currently looking at a duplex in my neighborhood. Seeing as I'm a real estate newbie surrounded by non-real estate people, I need some help from my fellow BP audience.Stats: One side of the duplex has a current le...
Nick Drury
Buying into a fully depreciated property...options?
My business partner owns a large multi-family property that he’s offered I buy into in the near future. I’m very interested in the deal, but he’s owned it for a long time and there is very little depreciation remaini...
Scott B.
Cash Out Refinance Tax Implications
We've just completed our second out-of-state rental purchase and with the recent rate cut our lender suggested a re-finance on our primary residence (he's hustling for money, good for him I guess. lol). That should be...
Joe Pitrolo
Tax Questions Notes, L/O
If you sell a mobile home on a note, let's say you have $3k in the property and you collect $1k down and a not for $6,500, sales price is $7.500, do you pay the complete sales tax immediately or wait till the note is ...