
22 December 2024 | 8 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

19 December 2024 | 12 replies
I’m self managing myself but the tax side of it is a little confusing to me but I’m recording everything involved as far as maintenance, traveling, expenses etc. just want to know what some people would do in my situation or what to I can benefit from come tax season @Angelo LlamasI recommend that you find a real estate accountant to help you understand and prepare your taxes.Bigger Pockets is a great place to find a real estate tax accountant.

20 December 2024 | 2 replies
Buyer-paid real estate agent commission (Yes, I recommend buyers have their own buyer's agents.

19 December 2024 | 4 replies
If so, any recommendations on brokers that would be willing to partner on something like this?

18 December 2024 | 13 replies
By posting a notice, you maintain control while ensuring expectations are clear and legal.By the way, I don't recommend an exact 30-day notice and then dealing with prorated rent.

19 December 2024 | 12 replies
I'm open to any advice and resources you'd recommend for beginners.

20 December 2024 | 5 replies
However, I'd recommend discussing this with a knowledgeable mortgage broker to confirm the specfic terms based on your lender's guidelines.I once worked with a client who had a similar idea in San Diego.

17 December 2024 | 8 replies
I'd recommend a project manager or architect if your budget can afford one.

17 December 2024 | 11 replies
Does anyone have one they recommend?

18 December 2024 | 9 replies
In other words, how aggressive are you in recommending things like: "Hey mr.