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All Forum Posts by: Luis R.

Luis R. has started 3 posts and replied 7 times.

@Brian Gerlach Thank you, I am in learning path including Tax implications, but concur that  need to consult CPA to avoid screw it up,  specially with IRS..

Would like to calculate depreciation deduction on a Rental property, but what is the land value associated with the rental property? looked up the tax assessor’s valuation information on the rental property. The land was $26,560 vs building value $51,140. This means land would be 34.18% of the purchase price paid of $122,500. Using the adjusted purchase basis, the land cost would come out to $42,434. Is this a correct way to allocate value to the land?  I understand that Land does not provide a depreciation deduction. 

This is probably an accurate source, but thought I’d just run this and post it in BP to see if anyone have anything that could rely on to identify a percentage value to the land.  Would appreciate if  anyone can help.

Thank you for your comments. I share the same thoughts about the site, which lead me to validate how successful I can be using this type of sites as new in as REI in this forum.

James,  Yes I did notice that this is a new company and was wondering if any one from the BP forum has used their services. Thank you.

Hi BP members:

I am just starting as REI . Being reading a lot and just defined my plan which is to start fix and flip houses in my area to generate cash and later do buy and hold. Searching the web, I found this company www.fixflip.com. Does anyone have experience dealing with them?.

Hi BP members:

I am just starting as REI . Being reading a lot and just defined my plan which is to start fix and flip houses in my area to generate cash and later do buy and hold. Searching the web, I found this company www.fixflip.com. Does anyone have experience dealing with them?.

Post: Any investors in El Paso, TX?

Luis R.Posted
  • El Paso, TX
  • Posts 7
  • Votes 2

join an REI club, there are two that I have found in ELP area. Go to www.meetup.com for further details.