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7 March 2024 | 3 replies
So you sold it for $20k which would reduce the asset side of the balance sheet and if you exceeded your basis it would move to profit and loss statement.Then in future when you get payments it will all go the the profit and loss since you exceeded your basis
7 March 2024 | 14 replies
So they scraped together the $10 - 20k necessary as a down payment for one of the real estate personality marketing systems (that also charge a back end percentage of the future sales revenue), and were given the program they would be pitching.Many moons ago I was at a RICH Club (Realty Investment Club of Houston) meeting, when a certain well known former television real estate fix and flipper was the guest speaker.
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6 March 2024 | 3 replies
There is a one car detached garage at the back of the property.I'm an absentee owner that rented this home out for 11 years with a management company and now I'm in the process of renovating it.When I'm done with the project in a few weeks, I would like to 1031 exchange it into another cash flow property possibly in Indianapolis IN, but I'm open to other active markets.
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7 March 2024 | 25 replies
So one less item you would have to worry about in the future.
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7 March 2024 | 9 replies
If you grow your portfolio in the future start researching before tax season and creating connections in your community and on BP to find a tax professional.
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6 March 2024 | 12 replies
How much will the rehab cost, and what will the appraised value be after completing the project?
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5 March 2024 | 0 replies
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $58,000
Cash invested: $32,000
Sale price: $145,000
Total cosmetic rehab including, interior paint, exterior pa...
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7 March 2024 | 11 replies
I know this post is from 3 years ago, but for future viewers:I searched the forum for this exact question!
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5 March 2024 | 0 replies
Investment Info:
Single-family residence fix & flip investment in Kansas City.
Purchase price: $58,000
Cash invested: $35,000
Sale price: $145,000
Total cosmetic rehab including, interior pai...
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5 March 2024 | 0 replies
Investment Info:
Single-family residence fix & flip investment in Kansas City.
Purchase price: $115,000
Cash invested: $35,000
Sale price: $180,000
Total cosmetic update