Ilia Zakharav
Convert 6 unit multifamily into condos, 1031 after
9 January 2025 | 2 replies
I bought 6 unit property in Wildwood,NJ,in November 2024, doing rehab now, should be done by May 2025I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts in 1031 that can help me?!
Eli Jerman
Taxes for 2024 - First rental property purchases in August 2024
31 January 2025 | 11 replies
A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.
Evan Bonnell
Mold problem won't go away!!!
31 January 2025 | 6 replies
Instead of continuing to hire remediation contractors you should hire a hygenist to come in, do some testing and provide a remediation plan.
Jed Butikofer
No more mortgage payment, but not yet FI/RE: How should I utilize these funds in REI?
20 January 2025 | 37 replies
Quote from @Jed Butikofer: Quote from @Jonathan Greene:I think it's great that your plan for next year is just one investment property.
Jeffrey Bourque
Found a Deal but Not Sure
27 January 2025 | 7 replies
@Jeffrey Bourque Are you planning to finance this with a local bank or credit union?
Melanie Baldridge
My opinion: 401K VS RE
22 January 2025 | 8 replies
I have employer sponsored plans that match contributions as well as a solo 401k and I do a backdoor Roth.
Luke Tetreault
2 years in, Growing Pains! What's the Strategy?
14 January 2025 | 9 replies
I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties?
Mark Daniels
Advice on borrowing against a paid off Commercial property to buy an additional one.
18 January 2025 | 8 replies
The bank will put a hold on them, so you can't just draw them out, so don't plan to need them for a while.This will cost you an appraisal on both properties to be performed by that lender.
Karin Recalde
Purchased property listed and sold as a triplex just found out from city it is a SFH
17 January 2025 | 27 replies
They found it out, andI had to go to the planning board and zoning board, hire an engineer and architect to make the fourth unit legal.In my opinion, the realtor should have verified the zoning, and if you used bank financing, it's pretty rare for the bank to miss it as well.You are probably going to have to hire an architect to draw plans and to get it approved as a triplex.I wish you luck.
Waruna Yapa
Who has the best rates and how to shop for them?
8 January 2025 | 14 replies
Not that that is a bad thing as some are on lower comp plans but they are at the mercy of all having "overlays" and have to sell their loans.