All Forum Posts by: Jon Bachman

Thanks for the invite @Stephanie Cabral! Do you have any recommended CPA's in the area that could help me get the ball rolling on the tax side of things?

@Felix D Menendez Jr, Im from Northeast CT, so our markets are similar and I can tell you that you CAN make things happen for 10K. I bought a duplex that Im closing on this week for $135000. I was also a first time homebuyer and only had to put 3.5% down through FHA financing (though I put down 5%). Another tip if your handy, is to look for distressed properties, because you have more room for negotiation with these.

Also if your looking for a hard money lender who is respected in the BP Nation, and local to you check out podcast #9 with @Ann Bellamy she does a lot of work in S New Hampshire and Massachusetts.

Jerry, I actually just got an FHA first time homebuyer loan for my owner occupied duplex. The PMI actually lasts for the entirety of the loan (30yrs). Maybe there are different FHA loans you're referring to?

Thanks Rick! Maybe I'll see you there soon!

I think I'm about an hour… Could you give me their name and number?

I guess I wrote all of what I'm asking in the title! 

Hey Heather,

Im new here, and it looks like I'm about 6 months behind on this thread but oh well! Im right down the street!!! Do you know of any REIA groups in the area?

Thanks everyone! kudos once again to the BP community!

I'm in northeast Connecticut and looking for a CPA that knows the in's and out's of investment property tax laws. I know if your CPA isn't savvy then you can be missing out on a lot of tax savings. Any recommendations would be helpful!!

Maybe I should rephrase this into simpler terms. By the way I'm all about being a landlord (I'm closing next week on my first), I'm just trying to grow my portfolio in a safe but aggressive fashion.

Essential Question: Can I pull 100% of the equity out of my property? If so, is the ONLY reason people flip because they don't want to be a landlord?? Are there other advantages to flipping (less landlording and immediate cash in hand)