Richard Snyder
Active versus Passive Realestate losses
I bought 5 single family rental homes this year so I have a lot of negative cash flow to report on taxes. I'd like to declare myself a "real estate professional" as I'm on sabbatical from my W2 job this year and coul...
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What kind of Material?
Not sure if this has ever been suggested before, but I thought it would be nice to develop some sort of Rehabber's Materials Cheat Sheet. Maybe like a chart with House Type on the top and Sections on the right?
For e...
Heather Little
Real Estate Professional Status Qualifications
I left my corporate job last year to stay home with my daughter and focus on our real estate business. I'm trying to determine if I can qualify as a real estate professional. I know you need 750 material hours per yea...
Logan Turner
Who pays for painting materials?
Quick question for everyone. My contractor gave me labor quotes, and I am purchasing the material list for work to be completed. The painter has added items such as graco pump armor and gracO spray tips (for his paint...
Christine Krizenesky
Should I put a down payment down on a subcontractor?
We recently bought our first flip and began to get estimates. One of the subs needed is a chimney repairman/tech. He recently gave an estimate for $6500 and wants $2500 down and the balance upon completion. Is it usua...
Jason Malabute
using contractors properly
One of my biggest fears is getting ripped off by contractors, them stealing my money, rehab cost exceeding budget . However, I realized to maximize my returns I need to consider distressed properties as an out of stat...
Mario Am
when do you decide to repipe?
So I had one of my rental having many leaks issues that we needed to remove the flooring and repipe half of the house plumping (mind you - its concrete slab, such a pain.) while my tenant is occupying it. when I bough...
Tyler D.
Things to watch out for with older houses?
I own a rental property that was built in the early 1900s, and am wondering if there is anything to be concerned about. Preferrably I'd like to hold it forever, but I'm unsure if there are any issues that may crop up ...
Ed B.
Conflict of Interest? Partner is also the General Contractor
I recently got involved in joint venture that's now starting to smell. The facts are:Partner is a general contractor who was supposed do the rehab, with his efforts and also using subs when needed. He's working off re...
Nick O.
Incentives for keeping contractor/GC motivated to keep bids low?
Contractor currently charges % on total spent which gives him no motivation to keep bids low or fight for better deals with subs/suppliers. Wanted to get some ideas on how I can incentivize him to be motivated to get ...