Usman Chaudhary
Should i invest or wait for inventory to improve?
I am rookie investor in the Naperville area. I want to invest in more rental properties but these days the inventory is very low and whatever comes to the market is being over bid on, so should i 1. Look at other area...
Nate Mac
Flipping- Repairs in 2018 are cost basis for Sale in 2019?
Background: Created LLC partnership in 2018. Purchased a Home to renovate in 2018 and sold it in 2019. Purchase Price: $60,100 In August, 2018Renovations: $30,000Utilities: $ 2,000Property tax: ...
Ann Bellamy
Legislation pending to "fix" toxic titles in Massachusetts: this may help improve inventory
If you are a MA investor, you've probably heard of the Ibanez ruling, and maybe have even been impacted by it. Hundreds of properties can't be bought, sold or financed due to the title issues created.
Legisl...
Spencer Wetmore
How to report taxes on flip between tax years
Hi - I have a general question on taxes for flips. I purchased a house with a partner in 2017 that we rehabbed and will be selling in 2018. There were a decent amount of costs incurred in FY17, but I'm not sure if the...
David Ivy
Austin Market Update - April 2023
The April 2023 real estate market numbers are out from the Austin Board of REALTORS® (ABoR). The median home in Austin sold for $565,000, which is down 11% from April 2022. The greater Austin metro had a similar year...
William Hull
Experts: Don’t read too deep into February’s existing home sales
Sales of existing homes were down in February but this not a sign if a downward trend. New construction that will improve the low inventory of available houses as well as increased consumer confidence will improve hom...
Matthew B.
Accounting Practices for Rental Properties vs. Flips
I have some fun accounting questions I'm hoping someone can answer.
So I'm pretty sure when I purchase a house to flip, it is recorded as inventory, then expensed as cost of goods sold when the house is sold....
Mike Rash
1031 - Substantial Improvement before selling
I have a 1 FAMILY RENTAL property that I have been renting out for 2 years.My cost basis for the property is 500k. I would like to do substantial improvement to the property by building additionand increasing square ...
Jeff D.
improvements to a leased biz space
I lease a retail space. First year. I put about 20k into remodeling the space this past year. What's the best way to account for that expense on taxes? It's commecial, and I don't own the space, just the biz...
Ana M.
capital expenses or deduction???
I am a real estate professional. (not passive activity).. I file jointly with my husband who is a doctor and has high income (500k/yr). I have 3 LLC's for mostly flipping properties. I have 2 rentals and 5 houses f...