Holly Prokop
2014 taxes start up deductions
hello~ seeking guidance regarding "start up" deductionsOur 1st rental was in service April 1st 2014. We spent OVER 5k to prepare the home to be rented. These funds include things like utilities, materials for plaster...
Quincy Baker
Transactional Funding for Wholesale Transactions
Good morning BP,I apologize if my question is somewhat fundamental, I'm new to the business and some of my questions will reflect my learning. Q: When using transactional funding to fund the A-B of a wholesale deal, i...
Account Closed
Purchasing Tax Software - Business or Personal purchase
I currently have a single investment property that was in full use for 2019 that was in an LLC. I will be doing my own taxes as I have for the past 10+ years and will be using TurboTax as the software. My question i...
Joe L.
NJ Real Estate License
Hello all!I am currently in the process of obtaining my real estate license and boy is it eye opening the initial out of pockets fees you are required to pay (licensing fees, testing, fingerprints, etc.)What I’m curio...
Aaron Bostelle
Is buying in this city suicide? And other life choices.
The city in question is Reading Pennsylvania. I'm looking to buy my first owner occupant rental property. My experience is essentially nil so let me get you in on my thought process so you can critique it:In no partic...
Melissa Lowery
New Investor Alert
Hi everyone! I am really excited to be apart of BP! Any advice on getting started in fix and flips would be greatly appreciated. I'm currently in the Atlanta area looking for wholesalers and agents. I look forward to ...
Gabriela Rezende
Tax Deductions for the Strategic STR Host or Owner
Short-term rental marketplaces such as Airbnb, HomeAway, and Vrbo have made it easy for homeowners and property managers to market their rental property. Experienced operators know that in order to succeed, you need t...
Dennis Gallof
Setup LLC within the same state as condo or my home state?
I have an LLC for my side business and I know the benefits of having one like protecting / keeping my personal assets separated, being able to write-off any expenses, etc.; however, I'm wondering if it would be better...
Clint Kelly
Job Costing Software for Flips
What software is everyone using for job costing on flips? I know quick books will work but I was curious if there is something out there that already has all the detailed costs input where I would only need to add the...
Jean T.
Have you partnered with your contractor?
Has anyone out there ever partnered with a contractor to do a rehab? In this situation, I'm thinking that you buy the property (using whatever means) and the contractor rehabs the property for a percentage of the prof...