All Forum Posts by: Shravan Hemchand

Thank you so much, @Bill Hampton. I'll check them out. 

Thank you so much @Bernard Reisz. Very insightful. I will reach out to you! Thank you 

Thank you so much @Account Closed! Accurately pointed out :) 

Thank you so much, @Michael Plaks! Very helpful :) 

Thank you so much! @Alyson Gordon. This is very helpful! 

Hello, 

I hope you are doing well. I need to perform a cost seg study on my short term rental which was newly constructed during 2023. This is for my 2023 tax return, and I have filed an extension. 

I am looking for insights if I should perform a DIY cost seg or if I should work with a firm? The build cost is $400,000. If I should work with a firm, do you have any recommendations? I spoke with the firm remotecostseg.com and got a quote of $5,000. 

Any insights and recommendations will be highly appreciated. Thank you so much! 

Great advice @Stuart Udis. Thanks a lot. 

That definitely helpful to know. Yea not going to fall for that. I know we would require some down so I can do 70k or so cash in pocket for the seller. However I'm struggling to find a way to finance the rest without seller financing. Hoping there is bank who can lend the remaining.?

@Sebastian Bennett

@Miron Briley - asking for $600k.. 

I can do about 70k down. 

Hello Bigger Pockets Community,

I'm currently in the process of considering purchasing my first primary home and I'm exploring the option of creative financing. The seller seems motivated to sell, which has piqued my interest in exploring alternative financing options.

I'm seeking advice and insights from the experienced members of this community who have successfully utilized creative financing strategies in the past. I would greatly appreciate any tips, recommendations, or cautionary tales you can share based on your own experiences.

Specifically, I'm interested in learning about different creative financing methods, potential pitfalls to watch out for, and any legal or financial considerations that I should be aware of before proceeding. 

Details on the deal: 

- The seller has $288,000 left on the mortgage and has a 3.6 percent interest rate. 

Thank you in advance for your valuable insights and guidance.