Michael Anderson
Do we need to update existing leaseto an LLC if we move rental property to an LLC?
Hello, I have my rental property lease agreement with my name as a landlord. Now, I want to open an LLC and move the title to that LLC. My question is, do I need to update my name to LLc in the rental agreement and in...
Roger Laughary
Removing a Lessee from a Lease
Hi all,I'm struggling with an odd situation and hoped to get some good input from someone who knows the law better than I do. I started a lease on a couple last year (2 year lease) and they have since broke up. The gu...
Andrew Giunta
How much do some expenses matter if you can write them off?
I could be wrong because the US tax code is very confusing, but how much do certain expenses like property tax, or property management fees matter if you can write them off? Im not sure if there is some sort of cap, b...
John Morgan
Should I claim my wife as a real estate professional?
We have 25 SFR that I self manage. My wife retired a few years ago due to our strong RE cashflow. What are the advantages of claiming her as a real estate professional? We show a loss on the rentals due to depreciatio...
Kavan Kucko
Lease dates - Chicago
Hi all,I purchased a 2 unit rental property late last year that was already fully leased. At least one of the units plans on re-signing. Their lease is up at the end of September. I'm happy to have them re-sign but my...
Eli Gilbert
Advice re owning a house in cash affecting future investments
I am looking to buy a house with cash. For technical reasons, my cousin who is a real estate investor, has offered to buy it for me under his name. Would this transaction pose any problems for his credit record or cre...
Kevin D.
2017 taxes, what do I miss out on by not meeting RE pro criteria
My wife and I self manage our California rental property but spend no where near 750 hours per year doing so. We are W2 earners with over $200k combined income. Since we don't meet the tax law criteria for "Real Esta...
Kris Barney
Vacation Rental: Tax WriteOffs When Visiting [Co-Owned]
Hi BP Members. I'm new to BP (but really enjoying it!), and was hoping to see if anyone had any experience with this scenario, and if so, had any suggestions: I'm considering co-owning/purchasing a small vacation home...
Bob Malecki
Travel expenses to Europe to look at properties
I'm a full time RE investor and my wife is self employed as well. We are planning a month long trip to Europe next year and part of the trip will be to meet with property managers or RE agents to look at potential acq...
Keith Olson
Structuring a partnership
I am a new investor (working on my first deal) and I have a partner with more skills and connections for completing the rehab of properties. I will be funding 100% of the deal and doing minor rehab work. We are good f...