Brie Schmidt
After a fire - Tenant property
A month ago tomorrow we had a fire at one of our properties in Milwaukee. Our property manager dropped the ball in a million ways so we fired them and are now trying to get an idea of where we are at with everything....
Calvin N.
Best tax approach on rehab
We purchased a non performing note, first position, on a SFH in Feb 08. We went through the foreclosure process and took possession on the property, May 08. After an extensive rehab (90K) completed before the end of...
Victoria Coleman
Estimating Repair Costs and Capex
I’m having a hard time figuring out how to calculate repairs. I have a few of questions.1. How do you figure out what percentage you should set aside from your rental income per month for repair costs?2. In “The Book ...
Mary Jay
Cap Ex calculation on 100+ year old properties
Hi guys,Those who have 100 year old properties, how do you calculate cap ex on them?Do you say: ok, it will need a roof in 10 years, roof is 20K, so for the next 20K I will save $200 per month for the roof?Then do you...
Seth C.
Distinguishing maintenance and capital expenses
Looking at P&Ls I see a lot of stuff that is placed in capital expenses that seems like it should be in maintenance, ie above the NOI line--but I don't know completely what the industry standards are.There are thi...
Gerald Jarreau
Question about taxes
Last year I needed to move in with my mother to take care of her. I rented out my condo. I do not have a business set up. My question is how do I prepare to pay taxes on the income I have earned? Do I need to set up a...
Matt B.
Overzealous Home Inspectors When Selling
What are people doing about home inspectors, that tear your property apart, when you are trying to sell it? It seems they are continually getting worse, to the point, that they are killing the sale of homes we do. Las...
Eddie Wright
Evaluating townhomes and condos with HOAs when running numbers
Hello everyone!I just moved to Miami just under a month ago, and I'm currently living in Miami Beach (renting). I'm looking to buy my first property using conventional financing (have VA loan as an option or would be ...
Mike Makkar
Purchased 8 homes ALL CASH, now Cash-out Refi or LOC options?
Dear BP experts,I purchased 8 rental properties in the last 7 months, using cash reserves and now I'm exploring doing a mix of a cash-out Refi and an LOC using the 8 properties as collateral. I've called a few communi...
Josie Shaw
Negotiating post-inspection (first time buyer)
Hi,My husband and I are first time buyers (not just investment properties) and we recently put an offer on a duplex. The inspection report came back last week, and as expected for an older home, there was a lot. We su...