Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

4
Posts
2
Votes
Joe Atkins
2
Votes |
4
Posts

Appraisal before flip? CPA advice

Joe Atkins
Posted

We are currently in the process of purchasing our first investment property, (cash purchase). It is an old farm house on 9 acres. We are dividing it into 3 acre tracts and keeping the house and 3 acres for a rental. Our CPA has advised us to get an appraisal of all 3 parcels, including the house which needs a ton of work. She says she needs this to offset the capital gains if we sell the land immediately. I haven't read of anyone getting an appraisal on the front end of a cash deal? Does this sound like good advice? 

Most Popular Reply

User Stats

4
Posts
2
Votes
Joe Atkins
2
Votes |
4
Posts
Joe Atkins
Replied

Thanks @Jim Pellerin! I guess I should listen to my CPA. We are getting a great deal, so I know the valuation is good for our area. I didn't want to waste that money if it wasn't necessary.  

Loading replies...