All Forum Posts by: Lee Israelsen

I am building a house this year. If I build a basement apartment, can I write off a portion of the expenses it took to build the house when I go to do my taxes for 2024?

I doubt the seller would accept $110,000, but it never hurts to ask. Last time it was on the market for less than a week before it was under contract.

I am looking to purchase a Duplex in Springfield MO. It is a really good area for a decent price. My plan is to live in one side and rent the other. Rents in the area are $650 for this type of unit. Both are 2 bed & 1 Bath. Built in 1980 around 900 Sq feet for each unit. I estimate it will take around $10,000 of repairs over the next couple years. It is listed around $140,000. I do not qualify for a conventional or FHA loan because a year ago I became self employed so the best interest rate I can find is around 7% putting around $10,000 down payment. The problem I am running into is finding a property that has decent cash flow. Wanted to hear what you thought of the deal. Also any suggestions.

Looking to house hack my first property.  Needs to be in or near Cache county, Utah.  Prefer Duplex, Triplex, or Fourplex.  Also grateful for any tips or suggestions in regards to finding good deals in this hot market. Thanks for your time.

@Account Closed how did you get deals with foreclosure properties? Did you send out direct mail to pre-foreclosure homes? Did you buy at auctions, courthouse steps etc? Where did you get lists are there any sites you liked more than others?

Spencer how did you get deals with foreclosure properties? Did you send out direct mail to pre-foreclosure homes? Did you buy at auctions, courthouse steps etc? Where did you get lists are there any sites you liked more than others?

Yes Dwight is my dad's cousin. I never had him as a professor at USU though.  Eric yes I would be interested in looking at that 4plex. 

My name is Lee Israelsen. I currently work at a pest control company.  I have met with some RE agents, looked at some multifamily properties and analyzed them.  Mostly I have been learning about real estate investing from listening to BP podcasts and also reading the forms. I listened to a years worth of podcasts last month.  After listening to so many different podcasts I realized there are endless ways to do RE investing and I just need to pick one and get started.  My first goal is to find a multifamily property in my area live in one of the units and get some practice land-lording.  My biggest hurdle right now is finding good deals.  From what I have seen the MLS is not working.  I have asked the county and city if they have lists of current evictions they didn't...I also got a list of properties from the county that have been sent a notice of default. But I think what I really need is a list of landlords and to figure out the best way to approach them about buying properties off the market. I asked a title company if they had access to any such list, currently waiting to hear back from them. If anyone has recommendations on where to get lists of landlords and how to market to them please let me know.  

Thanks for your time and help!