David Olson
First Flip Almost Complete
Hello everyone,I am about two weeks away from being complete with my fist flip. It is located in Katy, TX and there were some unexpected repairs but nothing that set us back to much. I will be uploading complete befor...
Riley Gilson
Why do you buy from a wholesaler?
Not sure if this is the best place to get the feedback I'm looking for, but hopefully someone has a keyword filter up just in case.For those of you who buy from wholesalers on a regular or semi regular (open to interp...
Account Closed
Do I buy my parents home?
My Parents divorced with a house worth approximately 600k. There's a 200k mortgage left. My mom wants $150kish to buy out her half of the house. Me and my father currently live in the house. He has enough $ for the re...
Daryl L.
Opportunity of a lifetime
Just got a call last night for what may be a great (amazing!) opportunity. A family member is looking to retire and offered that I could take over his entire business. We didn't get into the depth of details I'd like ...
Account Closed
Buying second Property After First FHA Duplex
Hi Everyone,
I bought a Duplex six months ago using my tax return. I am looking towards buying my second property this year using my tax return.
I am unsure if i should use a hard money lender and do a flip then g...
Mary Jay
Depreciation Calculations-please help to figure it out
Hey guys,
I feel like Ive always struggled with depreciation concept...
So, Ive been googling it, and here is what I found:
Let’s say you buy a single-family home for $200,000. The tax assessor’s estimate of the la...
Dave Hart
BP referral for Tax services - beware
Fair warning BP friends. I leveraged the BP site to get referrals on tax services now that my portfolio is growing (4 properties). I was connected to 1800 Accountant (they said they were a partner of BP). Sounds like ...
Uzair Syed
Completed 1031. Filing Taxes Q (prev LLC, no more LLC)
Hi,
This sounds more like a tax/accounting question but seeing if anyone has any insight here.
My parents just completed a 1031.
Relinquished property and replacement property both under parents names.
Accountant ...
Seetha G
Selling Now - Tax Year Implication
Hello AllI understand that in general there is a 6 month period to close the replacement property. However if i sell now is there any restriction on closing the replacement properties before end of the 2016 tax year?A...
Account Closed
What would you do with 100k that you were about to 1031 Exchange?
Hello Guys,If you were about to 1031 exchange a couple of properties and they are about to profit you 100k, what would you 1031 exchange that money into? In other words what strategy would you use to turn that 100k in...