All Forum Posts by: Donald Kellogg

@Tim Herman thank you for the feedback sir. I just started having interest in out of state purchases, mid west seems a bit more profitable than Arizona with the research I’ve done so far. Purchases will be made with a SD 401K. Have a great thanksgiving!

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@Mychal Hodgson I researched clever and would not advise someone to go there for education on wholesaling. Pm me I have another route you could take.

@Eamonn McElroy @Wayne Brooks @Ashish Acharya thank you so much for your replies, we will continue to try and coach the accountant on the piece they do not understand. All valid replies and accurate.

I flipped a home in Arizona and wrapped 60K rehab funds in the HM loan. Is this a expense or is it counted as a gain at close? If it is a expanse what IRS publication addresses this item?

I count cash in and cash out to see profit on project in this case around 21K My accountant says the 60K rehab wrapped in the loan since it was not part of the purchase in a gain.

@Dustin P.. if you would be kind enought to introduce me to them I will add them to my vendor list. Thank you

@Christy Mikesell Madera Interior Solutions LLC on like do good work. Are also flipping homes so they understand the business

Good to hear someone is hustling. I just completed a 1031 into the Pheonix metroplex and am happy that I did. Not only is the Phoenix Metro area hot it is great for multi family units. Rents continue to increase and there is only light ahead of us here. Plenty of new companies and building going on here=Strong economy. I would suggest steering clear of SFR myself but that is a personal opinion I have had many for 20-25 years. Best of luck Don

@Emilio Ramirez 110-130 a foot depending on finishes and location.

@Chris Tran Thank you so much.