All Forum Posts by: Bryce Nurding

In the end I refinanced THE DAY rates bottomed and they immediately started going back up. Some extreme luck.

Hello,

I bought a duplex in Pensacola $75,000 under appraised value, in an amazing location. Bought it for $300,000, it appraised for $375,000, and the gross rent is $2,625.

My lender only lets me pull out 80% of the purchase price right now. $240,000. But if I wait another 3 (1/2) months, I can pull out $280,000, because I can go off the appraised value then. Interest rates decreasing a little more will be necessary to make this possible, too (DSCR loan).

Also I will have another deal refinanced by then and gain about $70,000 of capital from refinancing that. So, by waiting until approximately February (time for everything to stabilize and to pull funds out), I can have an extra $110,000 of investable capital.

Thoughts?

Hello, I am looking for a few 1031 exchange testimonials that I can put on a new article for my website. Would like to have your first name, a photo of you, and a paragraph about your experience doing a 1031 exchange. Get famous!

- include testimonials from real estate investors who have benefited from using a 1031 exchange. This adds credibility and relatability to your content.

 Thank you. This is a great explanation that is hard to find.

Hello,

I am interested in purchasing a vehicle for my real estate business. I have a few questions.

The vehicle MUST be over 6000 GVWR right? Even if purchased under my LLC? I am looking at buying a used pickup truck and lots of the older ones are lighter. This would be used for moving materials around, with a trailer being rented when required.

The purchase price is depreciated rather than expensed, and over what period? I believe this is five years?

What percentage of gas and other vehicle related expenses are deductions? Such as insurance?

All repairs to vehicle would be expensed right? Would a new exhaust system, for example, be depreciated rather than expensed in that tax year?

Any recommendations on a used pickup that would fulfil the requirements of 

a. being around $10,000

b. being tenable in date night conditions

c. pull a trailer carrying anywhere from 1 to 5 refrigerators at a time?

Thanks! 

I think it is less that you can't afford a PM and more that you can't afford to have the place sit empty. I endorse the Facebook Marketplace room rental model if you have the time to figure that out and clean common spaces at a minimum of weekly. You will make way more money. This would be best self managed.

I agree with the comments here and think that you should prioritize putting studio on separate meter if able to. 

Having negative cash flow in San Diego is normal to my understanding.

Thank you for your answers... I reached out to a CPA in Florida and was told that I could expense installation labor if transactions were itemized and accounted for properly. However, the two responses here are from CPA's more familiar with real estate. I think it is probably smart to account for each portion separately anyway?

So I have some tax questions that can be difficult to get answered. 

I recently had new floors installed in a condo I own and run as a rental. The floors were installed by Lowes and I have a receipt showing material versus labor costs. 

I can expense the labor costs (installation), right? 

For a sewer line replacement... same thing? With receipt showing difference in materials and labor, I can expense all the labor?

For tracking these itemized transactions in Stessa, I intend to post each itemized part of invoice seperately with invoice attached to easily seperate the parts that must be depreciated versus those that may be expensed.

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