All Forum Posts by: Effram Barrett

Nikolas Ferreira you might have to pm me. It's says you've hidden your contact

I'll try to keep this short but I have a 1br 1ba condo that I'm looking to get rid of. The property was in the middle of a few renovations but I ran into financial roadblocks on getting it done. It's in a good location in Houston which is what I'm banking on, but my dilemma is should I just findi a credit card to complete the renovations on (3-5k) or sell it and cut ties now. If I were to sell it, is there a way I can come out not owing anything (being upside down) or have to pay closing costs? I guess I'm asking what would be a win win deal for all parties. Thanks in advance BP

Now this is technically a legal question but I'm sure investors would know. How does the tax benefits work on real estate? For example , say I net $8,000 from a wholesale deal, do I put that 8 grand into an account and use it for my next investment? How exactly does it work? And I'm assuming I pay taxes if I do not put it into more property

I appreciate everyone's input. Doing a HELOC was something that was mentioned in few times when i posted this exact question in Real estate Facebook post. I've been trying to hold on to the property because i know selling it would be taking the easy way out. i just want to get as much feedback as possible from seasoned investors; thank you everyone who posted

Need help!

I currently own a condo close to the westchase area (Richmond ave) I still owe on the property, but my plan was to fix it up a little and rent it out. The issue that I am running into is funding the repairs. I do not need too put much into it to get it where i want($3000-$5000) do hard lenders fund on repairs or is it not worth it for them to lend such a little amount? Has anyone ever been in a similar situation?