I have a very nice friend who wants to lend me money to purchase a property with no interest.Will I have to pay taxes on the private money loan?

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.

But I haven't done anything through auctions yet, as I have not purchased through an auction up to this point. 

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

Just keep in mind that using that emergency fund to buy your next property and having tapped a HELOC already may leave you in a bad spot if you run into a similar problem again.Also, I’m not 100% sure, but I have heard that personal loans don’t your credit more so than other types of debt so be sure you look into that if you go the personal loans route and then planned to finance your next purchase soon after.

I have helped dozens of BP members purchase and sell STR homes near Disney.

May not sound like a big deal but i tried to create the account under my biz and purchase a sub-to through the account, and lack of outbound wire was a killer for me.

Purchase price: $55,000 Cash invested: $25,000 Sale price: $119,000 Bought at around $50kFixed up at around $20kSold at $120k What made you interested in investing in this type of deal?

A lot of it has to do with location and time.If they are local owners looking at 1-2 LTR properties, I'll assist with identifying cash flowing/near cash flowing properties, assist them in the purchase as their buyers agent and assist with tenant procurement, listing, etc. but they can typically handle day to day management from there.Furnished properties, whether that be MTR or STR, are a lot more involved, as I'm sure you're aware of!

Want to acquire a self-car wash within Dallas Texas area. Was wondering if anyone knows a guy/girl that can't help me acquire sed property off market for a better price. Any information would be appreciated.