All Forum Posts by: Ben Bradmon Jr

Thanks everyone for the help.

Thanks everyone. $22k is what I bought it for all cash (HELOC). I will have to look at the paperwork I got from the appraisal.

Thanks Steven. I put it up for rent January 2017. I’m using a tax program and it is saying I can’t take depreciation with those numbers. So looking for a way to take it.

I bought a 3/1 SFH for $22k put $6900 in rehab but the county has the land valued at $32,400. So I can’t take depreciation? I understand that it is the purchase price minus land value divided by 27.5 gives me what I can take each year. It was appraised at $63k so can I use this? The county has it at 69k for land and building.

I have 1 SFH in my name that is rented and 1 SFH in an LLC that I’m rehabbing now so 2 total. All in state. And might be putting an offer on another one Monday.

Thanks everyone for the leads. I will be looking in to my options.

Looking for a CPA in south western PA. To help do taxes for an LLC. Any suggestions are welcome. Preferably, specializing in Real Estate. Thanks.

@Cody Evans It can take an hour or longer depending on how many are playing. The online one is faster. eBay has some a little cheaper.

I have played the board and online versions and would recommend playing. Try it online first to see if you like it before buying it. I do agree that the board game version is a bit expensive. It helps you see how important numbers are and you can try things that would be hard to do in real life without having to pay the consequences. Getting assets that cash flow is the key to the game.

Thanks for the input.