Trenton Custard
Seeking Advice on my second rental.
I’m looking for some advice on my current property investment strategy. Here’s a quick overview of my situation:
• I purchased my first BRR rental property for $81,000.
• Recently, I completed the cash-out refin...
Andy Grabis
First post/ General savings advice!
Hello BP Community!My question today is surrounding the accumulation phase of the FIRE journey. I am about ten months into my first job since graduating college in May of 2017. I live in Boston and have a pretty decen...
Jason White
Determining max offer in more expensive areas
Hey all,Looking to get involved in some real estate investments in Fairfield County CT and I have a question on determining max offer in areas with higher home values...Does the 60-70% of arv minus repair costs rule s...
Account Closed
Definition of intent / proof
I have a rental that I will be moving in to next year. Consequently I would like to refinance with the current low rates. My tenant is still in the house so I will be stating to the lender that I intend to take occupa...
Joseph Fenner
How much should I spend on renovations on average?
Title says it all. Since I am starting out, I am just curious about how much you guys spend on renovations or if there is a rule of thumb? I want to calculate it as a percentage of the purchase price that I can apply ...
Gabe Goudreau
Planning For Unseen Expenses When Investing In Rental Properties
Hello,
I recently listened to Dave Ramsey dissuade a caller from purchasing a multi-family building, and I believe he made several valid points. He said that one of the main issues is that the buyer didn't have the...
Mathew Stephenson
How soon should I start my next project?
Hello,I am closing escrow on my first property in California late next month...Most of the work is done, and in fact, I am just waiting on the seller to close on a property, so I don't really have much left to do. I ...
Brittany Rose
Contracts for contractors
I am updating the contracts we use with contractors to stipulate some kind of financial compensation when work is not completed on time. Does anyone use this kind of safeguard in their contracts and could you share wh...
Dylan Duffield
First personal house or first rental unit?
So here’s my situation. I’m 2 years out of school. last year I made 52k and this year I’m on pace to make about 70k. I’m in a field where Income can fluctuate month to month but I am pretty good at saving in advance. ...
Champ Leong
How to reduce capital gains
CPA'S? : I'm looking at approximately $5,500 in capital gains tax from the sale of my house. How can I reinvest the $5,500 into an investment property and legally have ZERO in taxes to pay? TIA!