Proud to announce we purchased our first multi-family home (triplex):-Purchase price: $320,000-Needs some improvements in each unit (kitchen, bathroom cosmetic modernization) likely to be in the neighbourhood of $20,000 total-Estimated rental income: $3150-Estimated expenses: $2259 (this is a very safe estimate)-Cash flow = $1090-Meets the 1% rule and well above 50% ruleFeeling a little anxious (given it is our first deal) but very positive about the breakdown of the deal.

I'm looking at listings in the Raleigh, NC area.I'll look at a listing and then I'll go to try to figure out the expenses.I'm trying to understand how to work out the taxes.Some listings on Realtor.com just tell you what the tax is, which is fine.But some say no tax info available.So then I looked at this official page here.

You may need to change title to your own names to get conventional financing.I'd suggest going to speak with a mortgage lender before making any official moves with the ownership.Hope this helps!

"Chicago-based real estate mogul Sam Zell added to the fodder Monday, when he announced his Equity Residential would be selling off 25% of its portfolio of apartments.

This is my first official post to the forums, but am really curious on what some of you might recommend for me on my next steps moving forward with my real estate investing.

For those who don't religiously follow developments at the SEC (I know, I should have better things to do with my time), this Friday the SEC is scheduled to vote on its final crowdfunding rules.  There have been sever...

Wonder if you would qualify for the sect 121 exclusion prorated for living there less than 24 months.There may be creative ways to assign your interest as you are not officially the owner of record but I am not a tax person.  

It doesn't matter if you are young or old, totally new or need to build upon your experience.Yes, you have just announced a commitment to the thousands in this community about your seriousness regarding REI and have taken this bold step to affirm it.Your time on this site and with the BiggerPockets community will be well spent and can be financially rewarding if you so desire.You are here at the Forum, but, should raise your mouse to the top and explore the otherheadings displayed.Don't get overwhelmed by the massive amount of data archived on this site.Simply, bone up on the areas that you need to expand knowledge in such as, Forums,Marketplace, Learn, Network, Analyze, Resources.Feast on the Podcasts, #askbp Podcasts, blogs, webinars and the myriad of bookrecommendations.Also, you can review the quick links below to help solidify your grip on this site. http://www.biggerpockets.com/starthere http://www.biggerpockets.com/ubg http://www.biggerpockets.com/meet Setting up Keyword Alerts How to Use @Mentions on BiggerPockets 25 Tips for Real Estate SuccessAfter becoming more knowledgeable and confident because of my above suggestions, take action to snag your first real estate investment deal if new or add to your existing holdings if you have prior experience.Don't get caught up in analysis paralysis.You must immerse yourself in the RE marketplace locally in your neighborhood or afar if the situation warrants it.Take calculated risks if needed and you shall be rewarded!"

Mortgage Rates Highest in a Month TodayMortgage rates continued heading higher at a fairly quick pace today, extending the move that began after yesterday's Fed Announcement.

Once the development is announced, the values on those go up more than the sum of its parts and they will be tear downs, I assume, by a contractor.