Lin Yin
Cash out from down-payment and continue buying?
Guys,I am new to real estate and to this forum as well. I am in the Boston area. So I plan toget together more than 500k, put down 20-25% on 300k properties and buy 6-7 of them and rent them out.My question is, is the...
Will Johnston
Tax Deductible Uses for Extra Funds from Cash Out Refi
I recently did a cash out refi on an investment property to pay off the line of credit I had used for the downpayment on said property.I have about $5k in funds left over, and I'm trying to figure out what to do with ...
Frank Wells
Tax implications of cash out refi to buy investment property
Thank you in advance for taking the time to read and/or answer my question. I appreciate your time. I'm, not sure how to pose this question either but here goes...I recently used a cash-out refi to purchase a SFR re...
Brian White
Missing something regarding financing
I must be missing something. I live in Texas and I'm in the process of buying my first rental property. I'm applying 25% down on my first property. After reading so much on BiggerPockets about investing with little...
Turner Monroe
Tax on mortgage interest payments using BRRR
I love the idea of the BRRR strategy, but there's one thing I can't figure out. Don't you lose the ability to tax deduct interest payments on the mortgage after the "Refinace" part of the strategy. Since the loan wasn...
Christopher Duron
Cash out refi & mortgage interest
Hello Everyone,I am considering a cash out refinance and I came across an article that states I must utilize the money from the refi to improve the property or buy another property to ensure the mortgage interest is a...
Carol Lyons
Schedule E & C
Hi BP Members,I currently own a multi-family and I am claiming my direct expenses using the Schedule E for repairs, depreciation, etc. However, I need to keep my expense low on the Schedule E for bank purposes; I am h...
Kyle Meyers
Appraisal Fee Deduction
I am getting a cash out refinance mortgage on one of my rentals and will be using the cash to rehab another property to rent out. As I understand it, the appraisal fee and some other closing costs are not immediately ...
Emilio Ramirez
Pay Cash, Lose Your Tax Deduction?
I recently read somewhere, I think in Edelman's book, that if I bought a property for cash and then took out a home equity or some kind of note that the interest is not deductable versus if I purchased the property st...
Peter Green
Duplex Interest Tax write-off Question....
Hi,I am considering buying a duplex to rent out one unit and live in the other.Hoping to get FHA loan with 3.5% downCan anyone tell me please if I am able to write off ALL the mortgage interest ?Thx,Peter Green