All Forum Posts by: Drew Holland

 Look into Airbnb arbitrage and you can absolutely buy if you want to carry that risk.  

What are you interested in? Do you enjoy STR? Want to learn more strategies? are you looking to go full time or part time and keep your side business as well?

DM Me and I'll help you out.  short answer no need to pay an attorney a lot of free resources out there and search youtube for jerry norton wholesale contract.  

@Chris Gavre a bunch of buzzkills and karens in these comments.  You wouldn't want to share a beer with most of them especially the litigious one, he might serve you a lawsuit afterward.  

I wholesale SF and MF and can help you.  You're not totally off on the cold calls and don't pay attention to any clown telling you they're going to sue you for offering them money, we've heard it and it's laughable.  Pay some money and hide your public data better if you're going to be butt hurt over cold callers.  

I'd need to know more about your approach to add any value so DM and we'll connect.

Shout out to @Arn on here for vouching for you here cosa nostra style.  And a 170 door portfolio in 2 years is also impressive and I'd echo any hesitation to change what is clearly working for you.  
   

Lots to look out for and lots of ways to lose $$$$.  DM me and I'll help you and way too much to type out or go over here when you're serious about this like you are.  @Bjorn Ahlblad is on point and @Kevin Morgan may be on to something yet not enough information yet.  

And @Melissa Haworth is 100% correct, reach out to JD.  

Yes and no.  You typically cannot capitalize (use) all of the renovation costs towards the cost basis (purchase price) of the asset.  Yet you're getting the basic calculation of capital gains tax and need to verify all of this with your tax accountant or CPA.  Make sure they know real estate investment basics at least (tons of good ones here on bigger pockets) bc they need know about the rest of your portfolio and tax situation.  You can 1031 or installment sale offset some of the tax burden here as well.

Your recognized capital gain upon sale is $75,000 (710k - 635k = 75k) and may pay long term cap gains tax on that of 0-20% for federal and up to 13.3% in California depending on your tax bracket; 33.3% basically on the high end.  What interest rate did you lock in on the loan?  Are you open to selling it creatively to avoid some of the tax burden?

Don't pay for a mentorship and you'll need your money for marketing and operating costs at some point.  

what did you buy it for?