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2 March 2024 | 11 replies
Oklahoma City does not seem to far from you.LLC vs CorporationIt is generally advised not to hold properties that tend to appreciate(such as real estate) within a corporation.However, there are potential tax saving strategies of doing flipping or wholesaling within an S-corp to save on self-employment taxes.Below are some links of other BP members who requested for a CPA in Oklahoma CIty.
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29 February 2024 | 1 reply
Conduct thorough research: Since you won't have a real estate agent representing you, it's important to do your own research on the property, its value, the neighborhood, and any potential issues or liabilities associated with it.2.
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2 March 2024 | 0 replies
One final note, this property has a lot of potential for value add opportunities as its located right on a major highway and is 2 acres.
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2 March 2024 | 5 replies
Going 1-2 months without rent now to find a qualified tenant is better than potentially having to evict this applicant.
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2 March 2024 | 17 replies
I am exploring both short and long term investment as an out of states investor and trying to understand between Cleveland and Columbus OH.I have been learning these two markets are appreciating and have a good cashflow.As I am new to these two markets, I would like to learn which markets are providing a reasonable cashflow while up potential of appreciation for next few years.between these two markets, which ones are suggested?
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2 March 2024 | 5 replies
I'm new to real estate investing and have been looking to buy my first property for the past 3-4 weeksI have roughly 120k (not all of that I would like to use) to put towards an initial investmentI found a property that I would like to get for 325k that is in ROUGH shape, basically every room and property needs a lot of TLC.I'm getting a 2nd GC to come and look at it but I'm estimating anywhere from 75k-100k in rehab costs to really get it updated.It's a 4/2 with the potential to be a 4/3 or even 5/3 with some creativity of the attic space. 2750sqft with a beautiful pool area and big backyard in Central FL, 15 min from Disney.The girl that has the property wholesale is saying the ARV could be anywhere 550k-600k but honestly, I don't see that number being accurate looking at comps around within a mile or two, and I really need an expert evaluation on this deal but don't know who to go to.I would love someone who has experience doing BRRRR or fix and flips to look at this property/deal and be able to say "this is a no go" or "you have plenty of margin to make this profitable"Any help would be super appreciated!
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2 March 2024 | 2 replies
I'd like to put them all on 1 lease for simplicity - my question is are there any potential pitfalls I'm missing?
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2 March 2024 | 2 replies
Looking for some potential "boots on ground" for the San Antonio area.
3 March 2024 | 9 replies
3) the back of the property leads to a cul de sac which could potentially be another entrance - option would possibly be building a duplex or fourplex which would be less costly - then sell it and make another and use the profit towards the apartment building and just build 1 because who has that kind of money.
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2 March 2024 | 16 replies
This may be easy enough for most states and their relatively simple tax regimes, but states like California, New York, Texas, Pennsylvania, and a few others have some quirks to them.For example, California makes disregarded single-member LLCs file a tax return, pay an LLC tax four months into the tax year, and potentially pay an LLC fee six months into the tax year based on estimated gross receipts.