Dave H.
My Bank requires contractor for work. does contractor need 1099?
Its an insurance job for 10k. Bank wants a licensed contractor to do the work. Does the contractor have to fill out a 1099? He's a friend and he would prefer not to. Any downside to not doing the 1099? Thanks.
Uri E.
Cost segregation for the purpose of expediting depreciation (SFR)
Hello,
I buy, hold and rent out single family residences. Each new acquisition I then depreciate using a standard straight depreciation - total cost of land improvements. I recently learned that I could expedite some...
Elias Wiscovitch
Turnkey For A Starting Investor? Why or Why Not
As I’m researching and starting to figure out how I want to go about in REI, I’ve come across the idea of turnkey investing, which unless I’m wrong is purchasing a home for rental that’s already renovated and ready fo...
Joseph Havlick
Specific: Parking. What's the best option?
Own two lots, live on one. Developing the other with a duplex, with the goal to sell or rent. Both lots span the block. The duplex will have a party wall in the middle and main entrances facing north and south, res...
Dan Martz
May I have permission to...
Ok, not really permission but input would be appreciated.
I'm looking at a home inside of a school system known to be very desirable. The city is entirely made up of expensive (for the Birmingham market) homes and is...
Zachary Harr
Access to coaching?
Hey guys,
Wife and I are looking to get started in long term rentals to hold long term. This would be our first rental. We have about 400k HYSA. Ideally looking for something around 200k.
We have previous experienc...
Nyle Emerson
Is Buying the Block Worth It?
Hi guys, I'm a longtime BP fan and newbie investor wondering about the feasibility and profitability of buying a row of properties surrounded by land lots. I'm gearing up to buy my first MFH home in Philadelphia, wher...
Gordon Burwell
Family equity pitfalls and consequences?
Hello all, I have a family member that has a decent property 4bd 2b 2 car detached garage on about 1-2 acre value is around $230–250 and if cleaned up and in perfect condition $300+. Now the property is free and cle...
Nicole Cicerone
Cosigning for a mortgage as an investment strategy?
We are interested in investing in a second home that my daughter and her friends will rent back from us for a few years, and that we will eventually either sell or continue to hold as a rental property. However, due t...
Jeff Quinlan
Cost segregation Questions
Hello BP,Question about cost segregation. I understand in general the Benefit of doing a study. My questions are the following..Is there a down side to waiting? I was told you should do a cost seg in first year of ow...