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22 January 2025 | 2 replies
I imagine the only way it would be possible is to do the bulk purchase in cash, sell off a couple and then put debt on them?
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24 February 2025 | 5 replies
Foreclosures force the owner to sell because missed payments, probate forces heirs to sell a family members home, liens ultimately force a person to sell there homes to pay what they owe in tax/fines etc.
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5 February 2025 | 4 replies
@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.
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24 February 2025 | 5 replies
No state taxes, high appreciation, Economic and Job growth, Population growth, etc.
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21 February 2025 | 6 replies
Are they going to be able to buy your proudly done flip.3) If you misjudge the market, do you know when to dump it.4) Can you put a spreadsheet together on your purchase costs, carrying costs, rehab costs, closing costs, selling costs, tax costs, contractors that don't show and delay your project etc. etc. etc.5) Is the return worth the risk.
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27 January 2025 | 11 replies
You've done a great job with keeping your debt low so I have no concerns about your level of discipline to use/reuse a line of credit.All the best!
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14 February 2025 | 15 replies
As a savings of a few thousand dollars on furniture, could determine if your occupancy rate is 65% versus 70%...If the revenue is $50,000/yr that's $2,500 in one year (which could be the breakeven for that specific line-item expense).To determine you total breakeven point occupancy rate, and not just related to the furniture, take your operating expenses plus your debt service and divide it by your effective gross income.
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10 February 2025 | 0 replies
Wyoming has no state income tax.4.
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12 February 2025 | 9 replies
But to close without revealing the debt places the issue squarely on the shoulders of the seller.
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12 February 2025 | 2 replies
The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.