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Results (10,000+)
Tony Pellettieri Our 1st CF Deal - Helping a friend in a tough spot
12 February 2024 | 0 replies
The plan is to take out a HML on one of them to cover costs associated with Acquisition and Construction, and DSCR Cash outs after the other two are complete.Exit - Plan to Hold all 3 soon to be Aquired/Built properties for rent / future appreciation, +Cash Flow, and +Net DSCR Cash outs.Acquisition - Contract for Deed $130,000 @ 0% Interest 9 monthsHML Payoff $73,000 + Legal Fees on Execution of ContractBalloon Payment of $57,000 at time of DSCR Refi after construction of home on lot one, and the finish of construction on lot two is complete.Mechanic’s Lien, $43,000 for foundation and other work done, paid by seller at closing when contract is fulfilled.Rehab/ConstructionLot 1 - Home to be Constructed TBD.
Clinton Davis To Sell or Not to Sell. That is the question.
11 February 2024 | 12 replies
Well, that's also a possibility but I think my lender will only do 75% LTV which puts my new payment at around $1170 PITI with a $142,000 principle balance. 
Gabriella Borukhov Getting cold feet... please help run my numbers
11 February 2024 | 27 replies
Home price is $369,000 Rehab given is $80,000 Down payment is $44,900 Loan amount that I will owe back is $404,100 Loan is for 6 months Holding cost for full 6 months is ($3500*6) = 21,000Closing cost = 19,553ARV = 575000 (my agent said $600,000 but I am doing 575,000 to be conservation, with the way the market is going I do question if I should estimate it lower)With my math, using the full rehab loan and full 6 months with selling costs included, I estimate around a $53,000 profit. 
Darian Gore Should I hire a CPA
12 February 2024 | 11 replies
@Darian Gore Here are the things that many CPAs support their clients with:Understanding tax impact of short-term vs. long-term vs. flip before you buyWhich entity structure is best for goals and investment property typeTax and compliance on LLC or S-CorpHow to transfer property out of personal name into LLC (hard to buy 1st through entity)Ways to optimize taxes throughout the yearHow best to set up accounting to track income and expenses (doing this late is a mess)Feedback on property management systems, accounting systems. systems, etcEstimated payments to avoid penaltiesKnowing when to file and getting things in on timeMaybe a few things I missed, but this is the high-level ….. if you can get answers to the above questions on your own, plan, and file your own taxes then you can avoid the expense of a CPA.
Kate Brown Land Flipping 101 Scammer Kris Thomas Land Flipping 101
11 February 2024 | 8 replies
Brown failed to avail herself of the service electing, instead to forego payment for the services provided.Therefore, the role and labor of any sales team became a commitment of Ms.
George Zev Managing upkeep of Front Lawn and Property
10 February 2024 | 4 replies
My property operates within an HOA, recently HOA has been getting on our case for re-seeding/up-keeping the front lawn.As with most of CO, grass tends to die over winter, so here is my question: What is the best method to up-keep, re-seed and re-develop the front lawn?
Shannon D. Question about Collecting Tenant Excessive Damages Repair Cost in Florida
11 February 2024 | 5 replies
I suggest you send them a letter/email detailed the additional costs from the damages and demand payment
Victoria Britton Advice on buying parents house
11 February 2024 | 13 replies
Your payment will be ~$2600 to $2700 per month not including taxes and interest.
Patrick Donohue Long Island
12 February 2024 | 20 replies
Most work like this: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 we charge $2,500 minimum)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 WeeksWe have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.
Zachary Rosa indoor pool 10 bed 2 bath refi
10 February 2024 | 11 replies
Important nuance here is that the DSCR Lender will qualify the rent based on the income for the property (i.e. the DSCR Metric) but the value will still be based on residential methodology (sales comps method, not income capitalization or cap rate approach)