
27 September 2024 | 8 replies
Many people are suggesting to do a 1031 but have no idea what your gain / tax is(if any).Co-ops in the tri-state area 'normally' don't appreciate a crazy amount.The main reasons is the high monthly maintenance costs, over-leverage of the board, potential difficulty of buyers getting a mortgage and the approval process of the buyer.With that said, talk to your CPA to discuss what your gain / tax would be before thinking about a 1031 exchange.If your tax burden is low, don't bother with the 1031It may be possible that you have suspended passive losses to cover your tax burden.best of luck.

1 October 2024 | 1 reply
Can't decide which is better so I'd love to connect with anyone who has used one or both of these tools to figure out what they liked/disliked etc.Those two platforms are completely different from each other.I haven't used any of those two, however, I was a developmental controller at one point in my life and the construction team was using Procore as they were targeting large projects such as 100+ units groundup development.I believe BuilderTrend is made for remodelers and home builders.Right now, I am partnered up with someone to do construction and I am just handling all the financial side of things, currently using Monday and QBO to make it work.

22 September 2024 | 5 replies
I like connecting with lenders local to the areas because they typically have a larger network in the market and sometimes they're able to process the deal faster as well.

27 September 2024 | 2 replies
I have a property in CA that I want to put into an LLC.A lawyer advised me to register my LLC in Nevada and then complete the foreign entity process for the LLC to also be registered in California, where the property is.

25 September 2024 | 1 reply
Listening to one of Brandon Turner's books and he mentions this (https://www.biggerpockets.com/blog/plan-to-make-a-million)My question is how do you calculate your loan paydown for the principal and how much equity you've built up?

2 October 2024 | 4 replies
And remember, sometimes a new set of eyes can make all the difference.

1 October 2024 | 5 replies
They can ask you to serve notice so one unit (or both) are vacant at the time of possession, but if you agree to that make sure you have a large deposit and some of that is not refundable if the buyer backs out as you will need it to cover the lost rent.

1 October 2024 | 4 replies
The topic: Instead of Fix/Flips- making money with New Construction.

1 October 2024 | 5 replies
We did get negotiate money from them to help with roof repair, but now know they were not honest on their disclosure.Our inspector missed code violations, HVAC issues, pipes that had been worked on and issues hidden that had occurred while sellers lived in the house, signs of drainage and water damage inside the house that had been painted over, completely blocked dryer vent...and we are finding more daily.We have had the house looked at by a structural engineer and HVAC techs that has told us we need thousands (likely tens of thousands) of dollars worth of repairs to make this property able to rent and come up to code for rental.

1 October 2024 | 5 replies
I would suggest going through the steps to make the unit a conforming unit.