What's worse is that the value of the apt moved up from approximately $1 Million at the time to about $2.5 Million.The reality is that my friend was not only losing in Cash Flow when taking into account his living situation in NYC but he also lost opportunity cost because he had the chance to buy a Condo that was very similar to the one he rented.

That is what we were thinking about by raising the rent $50-$60 a month and putting the extra into repair account.

Account Closed come out to the meetups and start meeting some folks.

Without the improvements, my accountant estimated that my taxes after commissions will be $12,500- $9,500 Federal and $3000 state.

I have capital deployed in very rewarding places that I'm not comfortable liquidating for the down payment yet, however i do have roughly 20k+ in my 401k through my workplace Fidelity account that i would gladly put towards real estate..

Keep all your receipts for your accountant.

Originally posted by Account Closed:Bring on property number 3.     

Account Closed you don't need to involve a lawyer or a realtor most likely.

Hi Account Closed, I haven't had to do any major contracting work in my RE experience yet, but I did start doing research for a new multi-family construction/build in Hampton Roads and got great guidance and traction with Gary Tiller of Tiller Construction Company.I found him through buildzoom and he was one of the first contractors to respond and call me directly.

You will also need to take into account any differed maintenance, as well as ongoing maintenance.