John Kwon
BRRR cashout questions (tax related)
So interest rates are tanking so I was about to refinance and take cashout from some properties.But, speaking with my accountant, I found out that interest on the refi will not be tax deductible because I am not plann...
Matthew Lahickey
Need help on ARV for multifamily
Hello,As I am researching multifamilies I am finding most sellers seem to understate their expenses in order to elevate their properties value. When determining an accurate ARV do lenders appraise based off the 50% r...
Mikaeel Abdulwakil
Property with owner deceased for 2yrs, kids don’t want
I found a property while driving for dollars, I’m in Northeastern FL. Property is in terrible disarray. Skip traces the owner he has been dead for 2 years. Contacted his children, they want nothing to do with property...
Mitch Genser
Accounting and Bed Bugs
I am getting some mixed messages about how to deal with the accounting for bed bug remediation in an apartment building my company owns. Normal, regular and modest 'pest management' is clearly part and parcel of '...
Garen T.
Deducting interest from HELOC to finance projects?
HiI have properties that I will take HELOC loans out on in order to finance the next property. It will be for construction, or acquisition, or fixing it up.However, this year my accountant just told me that the intere...
Joe Miller
Bank financing
I am purchasing my first rental cash. I want to improve it, then get a mortgage. I've talked to some institutions and have heard a few things.
I can get 2 or 4 properties financed at 30 yr best rates, get resold.
Af...
Logan Allec
East Los Angeles Fourplex for First-Time Buy and Hold: Decent Deal or No?
Area: East LA, specifically City Terrace (NO rent control)St. Ft.: 3,500Beds: 10Baths: 4Price: $572,000Current Rents: $4,800Monthly Payment to seller (seller-financing): $3,500/month for 30 yearsDown Payment: $30,000A...
Michael Gibek
$1.1 million mortgage interest deduction post new tax law
Before the new tax law, the interest on up to $1 million on a mortgage secured by a primary residence could be deducted on scheduled A. Likewise, the interest on HELOC up to $100k could be deducted in the same way. I...
John S.
How to determine depreciation for new construction rental home?
Hi BPers, I need help to determine the improvement portion for depreciation on my new construction home. It was placed for rent on 6/19, and occupied 8/19. The Property Record Card is not accurate. It only shows t...
Bruce Valladon
To Buy or Not to Buy, that is the question
Found a Mobile Park in my area that seems like it would cash flow very well. But I am concerned by what it could cost to update the park.
Upside is there are 12 pads of tenant owned mobiles and a small house on just u...