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How Do I Decide Value of Building vs. Land Upon Sale of Rental Property? For income tax purposes, I assume i have to divide the value of my sale between building and land. after ten years of investing, this is my first property sold. need some insight.

i have some small legal fees incurred for a private sale that we ended up walking away from in the end. can these fees be claimed in any way? normally i would deduct them from the purchase price of the property for claiming when the property is sold down the road. but if i never bought the...

So... embarking on my first JV... But the person who was planning on being the "money person" is getting advice from a lot of people (financial people). We have moved from my original presentation: "Your money, my expertise." Would put my name on the mortgage, title, I would deal with...

okay... i seem to be getting different answers to this question depending on who i ask. so i thought it might be worth tossing it up here... we have claimed rental income (and expenses) on one spouse`s tax return up till now. if we purchased a new property last year (or more), can we choose...

Looking for a sample of a JV agreement for two people. My lawyer is making one up. He is a real estate lawyer. Very competent. Has done many partnership agreements. But a real estate partnership for one money partner and one expertise partner is a new one for him. He will do a great job of...

Small question re: JV. If my "money partner" makes the down payment out of a line of credit, should the interest payments from that LOC be part of the expenses of the JV before profit splitting? What would be a simple standard approach?

if i am beginning with a small JV with one person who wants in with me as a "silent money partner"... when i pursue a mortgage, am i pursuing this mortgage in my own name normally? down payment money from jv partner, and mortgage in my name? or will the lender want both names on the mortgage...

Hey all. We just ran into our first refusal by CMHC. We currently own 10 income properties (all duplexes, triplexes, or fourplexes), plus our personal residence. For the first time, even though the lender we normally use was positive toward the deal, CMHC said no. Current property is a...

Help. Can someone please help me with the income tax implications for rental income? Scenario: Rental property title in both spouses names. Is there complete freedom to claim the income and expenses 100%-0% for either spouse, or 80%-20% or 49%-51% or whatever split is preferable for lowest...