All Forum Posts by: Nick Troutman

The BP platform used to have the ability to check airdna for what a property could bring in for Airbnb. Have they moved this page or gotten rid of it completely?

 I have not been, as I have joined up with a much larger Meetup up for the Cookeville TN area. Hit up Dusty Wilson here on BP for an invite to the next meetings. We’d love to have you! 

I am a local real estate investor and wanted to create a Meetup for our area. This meetup is starting off virtual though we will schedule in-person events as well throughtout the year. Please join our community if you'd like to get together and talk, learn and discuss real estate, market changes and new strategies.

@Cameron Goedde  I ended up looking some up, though didn't end up closing on a property in Chatt, and therefore I can't say I have any personal experience with any there.

I have done a couple BRRRR projects which have worked out tremendously, though I have a question on my taxes and depreciation. I bought the properties for well under value, rehabbed them and have refinanced them, though my tax professional claims I have to do depreciation from our purchase price and not our appraisal price (which is now way higher). Is this the case, or could my tax professional be mistaken?

Thanks for the help BP community. 

I have done a couple BRRRR projects which have worked out tremendously, though I have a question on my taxes and depreciation. I bought the properties for well under value, rehabbed them and have refinanced them, though my tax professional claims I have to do depreciation from our purchase price and not our appraisal price (which is now way higher). Is this the case, or could my tax professional be mistaken?

Thanks for the help BP community. 

I know that AJ Osborne is the guys in that space, and he has an ‘inner circle’ community. I’d start there.

@Michael Plante that is correct. That was the foreclosure listing.

@Jody Sperling thanks for your input, and I totally agree. Here are the full details. I have a SFH under contract for $92,000. It is a foreclosure and the only way to get the contract was with a cash offer. The house is at 105 Second Ave. Fayetteville WV. I'll be using it as a short term rental at the entrance town for the popular and newest National Park, New River Gorge National Park. This town has also been a high tourism town with some of the nations top whitewater rafting, new mountain bike trails and its famous Legal BASE jumping "bridge day". The area has just recently reached official National Park status as of a month ago and you can already see investors flooding into the area with any housing stock available bought up immediately. AirDNA has data stating monthly incomes for a house of this type between $3000-$4000 a month, which is online with what locals have told me their AirBnb's bring in. The property needs about 5-10k in rehab and curb appeal and another 10k in finishing. I will be immediately doing a delayed financing after purchase and pull the cash back out of the property. After refinancing it and paying P&I, taxes, all utilities, water, electrical, TV, internet etc. it will still be netting well over $1000 per month and an ROI of over 100% with only the 10k left in as the furnishing expenses.

I have an epic deal at hand, and as they say "when you find the money will come." Well, I'm under contract though I'm still working on figuring out the best options on financing this opportunity, as it has to be a Cash deal with the whole-seller.

 I know there is a link on BP for hard money, though I was wondering if anyone had any recommendations or advice for using hard money.

Thanks,

Nick