Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
General Landlording & Rental Properties
presented by
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Tax time and lending
Good Morning,
I have been listening to several podcasts and reading about real estate investing heavily the last few weeks trying to find the answer to a simple question.
I bought my 2nd multifamily last week and my lender told me he couldn't lend on my first duplex because I showed a loss on my taxes. I don't want to continue to show a loss but I also don't want to take a major hit come tax time.
Can anyone shed some light on this topic so next year banks will see a big enough gain to lend without me breaking my savings and having to pay a bunch of income taxes.
Thanks for all the help!