Tiffany Smith
How to Report Rental Income with Owner Occupied Property
Greetings BP Forum Members,I am currently occupying my recently purchased first property. I have secured one tenant for renting out 1 of 3 available rooms and plan to rent out all remaining.I have a very generic quest...
Taylor Jennings
Private or Public Banking for Investing Business?
I'm wondering if I should create an account with Chase or a local bank for my business.
I don't know the benefits from one to the other...
All I'm looking to do starting out is to hold the money I gener...
Amy C.
pricing of a twin home vs. single family home
Hi,Does anyone know if there is a price differential (%) between a twin home vs. a true single family home. We are looking to sell our home and of course, will consult a realtor, but in doing early research, I'm unce...
N/A N/A
Passive Investor: Depreciation tax break
Hi
Could someone help me the following - As a passive investor, how does one claim the depreciation/losses from the investment property? For example - if expenses are more than profits and you have a net loss, could ...
Jeffrey Wolff
LLC/Land Trust/Personal Mortgage
My single family residential rental property is held in a land trust, whose beneficial interest is assigned to my single-member disregarded LLC. I have opened up a business bank account where the rental payments are ...
Rachan M.
Tax implication: rental property with full-time job
Hi all!This is a fairly straightforward situation that I'm sure many people encounter.I have a full-time job and am new to investing. If I were to buy a rental property that rents out for $500 less than expenses (mort...
Dan Gongora
CPA IN ELGIN FOR TAX RETURNS
Good evening,
Is there a CPA in the Elgin IL area that knows real estate or is a real estate investor as well that I can contact to do my tax returns this year? Last year the CPA I used was not able to help me maximiz...
Ida Nasko
DP3 vs Commercial line - pros and cons
Hi everyone,I work for a new insurance carrier that primarily targets landlords and real estate investors.We often get asked about the difference between DP3 and what we sell which is a commercial line policy. We have...
Andy Wong
Short Sale question!!
Hi, wondering what the average haircut lenders are accepting on 192k payoffs and 101k payoffs? Do you believe 25k would be an acceptable deduction? Also, what type of resale restrictions are the majority of lender...
Manuel Sarabia
Will the lack of fencing affect the appraisal value, or be a lender repair?
The rear side from the alley has no fence. I suck at math but I would guess it's somewhere around 50 linear feet of missing fence. The other two sides to the property are in perfect shape. Luckily for me the buyer ...