All Forum Posts by: Paul Costa

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $82,000
Cash invested: $70,000

Bought a property that someone started a rehab on and finished it up. Had some issues with the previous work done and some of the sub-contractors but got it done. AVR was good and we pulled 90% of our money out at refi time. The property s rented and cash flows nicely.

What made you interested in investing in this type of deal?

There was a relatively low cost to purchase and rehad the property. The area is good for small rentals.

Harshad, 

Thank you for the template. We made some adjustments and it worked out great for renting one of our properties which we rented out for a month to a family. 

Please do. Thank you. 

Thank you everyone. Great info and useful documents!

You could "hire" your daughter as the property manager. Make sure to have a contract. Then have her portion of the rent be her salary for managing the property. This would be a deductible business expense, show the house is renting out at 100% (for depreciation and 9ther tax deductions) and you wouldn't have to collect rent from her then gift it back. 

We were living in our house, bought in 2014, when we refinanced it in 2017. Moved out and rented it in 2019. It has been rented since 2019. Should our basis amount for depreciation be the original purchase price or the refinanced amount?

We were living in our house, bought in 2014, when we refinanced it in 2017. Moved out and rented it in 2019. It has been rented since 2019. Should our basis amount for depreciation be the original purchase price or the refinanced amount?

Hello, I am going to close on some land currently with two house and a workshop on it, near Augusta, GA. Planning to rehab one of the houses then remove the remaining structures and relace then with new home to rent. I'm looking for a reliable contractor that can handle this without charging us like we are building a custom top end house. Some of the quotes I've gotten are more per quare foot than if I bought a new existing house. Would appriate and refrences pointing me to a good contacter.

Hello, 

I am going to close on some land currently with two house and a workshop on it, near Augusta, GA. Planning to rehab one of the houses then remove the remaining structures and relace then with new home to rent. I'm looking for a reliable contractor that can handle this without charging us like we are building a custom top end house. Some of the quotes I've gotten are more per quare foot than if I bought a new existing house. Would appriate and refrences pointing me to a good contacter. 

I look for an agent that is passionate about what he or she does and takes and interest in what we are looking to purchase. They also need to be intelligent. They don't have to know everything in the here and now but should be able to find answers quickly.