John Morgan
Tax write off question
If you buy $100 worth of sheet rock for your rental property and the tax is $8, how much can you write off on your taxes? The whole $108 or just the $8 in taxes? I assumed the whole $108 amount since it was building m...
Karen Chenaille
Can reno costs be rolled into a 1031 exchange?
Hey folks,I have a commercial property for sale. I intend to 1031 the proceeds into other commercial properties or multi family rental units. I am working w/ my realtor to identify several exchange candidates so that...
Brett Lee
1031 advice would be appreciated!
I have 2 houses on 1 lot in the Seattle area i am planning on sell and reinvest in another house. I am probably selling our houses for around $325k and the house i am planning to purchase is 280k. My understanding ...
Account Closed
Can I deduct renovation cost on rental property ?
Hello fellow investors, I am to bigger pockets member and have decided to get serious about investing into real estate. I have a question about tax deductions. I have had a rental property for 10 years , last year I ...
Denise Evans
Alabama Tax Sale Redemption Amounts
One of my earlier forum discussions addressed the issue of excess bids in Alabama tax sales. I will not duplicate that information here.A redeeming owner must pay the following charges:Taxes due at time of auction, pl...
Account Closed
Lease option - capital gains
Hi all,
Entered lease option on a distressed property. Rehabbed the property and exercised the option. Seller had gotten a tax lien in the timeframe which took many months for a release. I am now looking to sell the ...
Bill Briscoe
Maximizing a Rehab loan appraisal
I'm buying a foreclosure for $84K, ARV should be $125-$130K based on comps, maybe a little higher based on quality and condition. 3/2.5/2 1720 Sq Ft, 1988 construction.
The loan package consists of a 6 month IO cons...
Michael Klinger
Strucuring a purchase that has notable cap-x needs
I am evaluating multi-family purchases for a 1031 exchange ( I sold my office and now planning to exchange into multi-family). There is a property that otherwise "looks good to me on paper" for a portion of my exchang...
Amy Tsao
Costs to Deduct as Expenses or Depreciate?
I buy single family residential homes and usually spend between $5K-$10K rehabbing them into rentable condition before placing tenants in them. It includes anything from painting to replacing light bulbs to hangin...
Patrick Philip
Anyone here ever flipped commercial?
I imagine the deals are harder to find than residential?How did it go?