All Forum Posts by: Rab Thomas

Interesting….

My assumption is there should be a category for acquisitions that you can put the purchase price at. But I’m not sure what calculator you are referring to whether it’s one of the BP calculators or your own spreadsheet?

In regards to "loaning yourself" money…that doesn't really exist, it all depends on how your CPA looks at it through the eyes of the IRS. I'm sure you can "loan yourself" from an LLC or an asset, but I'm not entirely sure what benefit you'd have by loaning yourself your savings and making payments to yourself versus not calling it a loan? Did you write a contract with yourself and agree with yourself that you'd guarantee the money back or you'd take over the asset to yourself? Or that you agreed with yourself that you'd pay back said amount interest to yourself? Maybe there's a benefit that I'm not seeing?

If you’re needing the money back in 12 months, I don’t think parking it in your first flip is a wise decision, especially if you don’t have the network and resources needed to execute this efficiently. Do you have contractors or are you doing the rehab yourself? Are you listing this yourself or do you have an agent? What price range is this flip going to be in? Is it a luxury flip or a first time homebuyer flip?

Missing lots of details to answer these questions but I’d love to help you out. Could you give us more details on what you’re dealing with and what you’re needing answer to?

Use a excel sheet.You will have to get with an attorney on writing a promissory note to yourself.