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Results (10,000+)
Account Closed What Is the 70% Rule in House Flipping?
21 October 2024 | 4 replies
The math looks like this:$150,000 (ARV) x .70 (ARV percentage) = $105,000$105,000 – $20,000 (ERC) = $85,000 (buying price)This formula is commonly used by house-flipping investors to decide how much to pay on a fix and flip.70% Rule: Formula and ExampleThe formula itself is rather simple: Once the ARV and ERC are calculated, you then plug in the numbers.Take a house that has an ARV of $100,000 and needs $20,000 in rehab.
Mariangela Ciciarelli Str - vacation home in Orlando
23 October 2024 | 16 replies
Then the Disney area may be a good fit.But if you watched some youtube channel with someone, who seems to get a deceitfully large percentage of their info from selling courses, preaching the dream of massive upfront cashflow that you can then leverage into another down payment next year and so on while exponentially increasing your wealth so you can quit your job and live on the beach in Aruba, Disney is the wrong market for you unless you're willing to invest substantially into super tippy top end theming.The good news if you're in the former camp is that prices have come down quite a bit here compared to most of the country with all of the saturation/competion. 
Sean Hoglund South Carolina property tax (non resident)
22 October 2024 | 4 replies
I thought it was simply the difference on percentage of appraised value (4% vs 6%).
Ever Olivas Fix & Flip Martket in Denver CO
22 October 2024 | 6 replies
Be creative--work a deal with them on percentages at sale if you need to. 
Haley Elisabeth Sell our current business to start full-time flipping?
28 October 2024 | 30 replies
You can do this in two ways; leverage a percentage of the cash flow and collect dividend then add active partner through dividends, or traditionally sell interest to an active partner.
Patrick Shep Land Value for Depreciation
22 October 2024 | 12 replies
In this approach, the taxpayer calculated that the cost to construct a new building (say, $300 per square foot at 2,000 square feet, totaling $600,000) should be allocated to building and the remaining balance of the acquisition should be allocated to land.Rule of thumb method: Some taxpayers use a predetermined percentage (such as 80/20 percent, 70/30 percent, etc.) for improvements and land.
Cody Anderson Section 1031 and 121 Hybrid
21 October 2024 | 6 replies
I recently learned that if you owner occupy a residence for part of the 5 previous years before sale, and you rent it for the remaining time, you can calculate the percentage of time the property was owner-occupied (and thus qualifies for the sec. 121 primary sales tax exemption of up to $250k for single filers) vs the time it was being rented (which qualifies for 1031 exchange) and claim both benefits. https://hcsequity.com/blog/combining-1031-exchange-with-121-....How does this work for a multi-family?
Timothy Fortin Creating Financing Strategies for Infill Development
20 October 2024 | 6 replies
Better to own a smaller percentage of projects that perform well than own greater percentages of projects that perform poorly with added stress. 
Cindy Joseph First time land lord- need advice on rent/income ratio and let fee
23 October 2024 | 7 replies
So I believe mortgages will look at DTI and want to make sure your income covers your current and future debt obligations at a percentage of 40-49% I believe, so their multiple would be more like 2-2.25x, but it's not a real apples to apples comparison. 
Diran Deukmajian Evicted Tenant - owes me money
21 October 2024 | 13 replies
There are two distinctly different collection strategies you can pursue:1) Collections Company: there are several that ALL they do is pester the debtor for payment with calls, texts, emails, letters, etc.2) Collections Attorneys: they will get a money judgment for balance owed and then pursue garnishment as necessary - including garnishing any state tax refund (if the state allows).Both will take a percentage of what they collect.