All Forum Posts by: Account Closed

Have any of you ever built a small kitchen? I need to throw in some cabinets, a fridge, small oven, a mini-dishwasher, and a sink (drain and water are easily accessible on the other side of the wall which is unfinished). It's 8 h x 12 w x 4 d total footprint. Cost expectation? Recommendations on appliances? I'm hoping not to go over $2500 all in if I do it.

I'm in a balloon situation. What's your best advice considering that? I plan on refinancing after a couple years. Am I out to lunch in your opinion? What should I be mindful of now?

So what if you spend that profit toward improvements you can offset costs on with the quad? Wouldn't it then be a deductible expense, and thus offsetting any taxes incurred? Maybe not a 1:1 offset, but if it's a capital expense, I should be able deduct a good portion. Plus any cash I put into the BRRR process is a deduction as well. https://turbotax.intuit.com/tax-tools/tax-tips/Rental-Property/Rental-Property-Deductions-You-Can-Take-at-Tax-Time/INF26315.html https://www.irs.gov/businesses/small-businesses-self-employed/a-brief-overview-of-depreciation

I'm under contract on an existing single family in Billings, Montana. I already own an existing multiplex here in Billings (and apparently that property is like finding unicorn farts). My question is, if I wanted to flip the property I'm under contract on to pay down the mtg on my quad, would I be able to avoid taxation on those profits from the flip? Can you roll profits from one property sale into an already-existing property within a year and thus avoid cap gains? We may try and BRRR the property alternatively too...any thoughts?

Josh,

Can you tell me more about the content/direction of the meetings on Thursdays?

Ethan Kanning with NAI Business Properties. Highly recommend. He guided me through my first deal and is awesome. He has a good feel for the market in Billings, and is investor friendly. He's also done lots of remodel work himself.

Matt Robertson, Billings MT. Commercial guy, good friend, very experienced, great resource. Highly recommend. Has access to HUGE network of regional opps. Google NAI Business Properties Billings, and ask for Matt.