Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Michael P.

Michael P. has started 29 posts and replied 1873 times.

Post: Should I refinance for better cash flow?

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

Check out “recast” instead of “refinance” if all you want is more cashflow.

Post: Capital Gain Taxes !

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

Are you married?

Post: 9 SFR, 9 locations, 18 bank accounts - or how to manage?

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

Microsoft Excel is life. One spreadsheet and one bank account are all thats needed.

Post: Capital Gains After claiming a $250,000 Home Sale Tax Exemption

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398
Originally posted by @Dave Foster:

@Michael P., unfortunately the bimbo would have to meet the residency test as well.  Hopefully she can cook and is a good conversationalist because she'll be living there for two years :)

 Good point forget 10k just free room and food

Post: Help - Sell or Hold 60 Properies in Bay Area?

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

Can I have 1 of them?  You'll still have 59.

Post: Capital Gains After claiming a $250,000 Home Sale Tax Exemption

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

Find a bimbo in a casino lounge to pay $10,000 to get married and divorced later, with a solid prenup, and get $500K instead of $250K.  

Or just rent it out and then 1031 it. (IRS likes to see 1 year)

Post: New 4-plex and 2-plex development - should we hold or sell?

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

 I’d prefer us little guys get a shot at buying them instead of a hedge fund.  But from your angle depends how much more $ you can get that way.

Post: New 4-plex and 2-plex development - should we hold or sell?

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

Are you fig

Post: Significant Net "Losses" on Taxes despite Positive Cash Flow

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

You can carry over the loss to future years, and if you have a gain in the future the loss can offset the gain. If at some point you pay off the mortgages and you are no longer deducting mortgage interest you might start showing gains at which time you can apply the losses to those gains.

Post: Is it too late to switch mortgage lenders?

Michael P.Posted
  • Rental Property Investor
  • Brooke Park Drive
  • Posts 1,949
  • Votes 2,398

So how much of a difference are we talking here