Brenda Hamstead
Our First Investment. From Rental to Fix and Flip.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $160,000
Sale price: $276,100
We purchased this property in 2003 and did some very minor renovations. It was consis...
Monish Lillaney
Filing Taxes as Real Estate Professional
Hey All, I work as an engineer full-time, but I also work full time on my rental properties since I do all the work myself. I just bought a three family this year, and haven't been able to rent it since COVID, so i de...
Luis Ramirez
LLC for Airbnb
Hello BiggerPockets community,
I'm currently a homeowner renting out my primary residence on Airbnb and considering the prospect of buying a new property for rental purposes. I've heard about the benefits of forming ...
Sharon Li
2/5 Rule for Sale of Two Properties While in Military
Im active duty military, and am planning on selling one of my homes (Property #1) in the next several months, which meets the 2/5 capital gains tax exclusion criteria of having both owned and lived in it for 2 of the ...
Kenny Smith
What to do If I find Asbestos?
Hello BP community!I get asked this quite a bit with some of my clients, so I figured I'd share my thoughts on it. If you own a home that was built prior to 1978, there is a good chance there is asbestos somewhere in...
Nathan Letourneau
Has anyone remodeled a house with prior meth usage
Curious if others have ever bought a prior meth house for remodeling to flip or rent? Wondering if there is anything in particular to look out for....unexpected costs, liability issues, etc? When you went to sell, (...
Jean-Marie Poth
How do I handle both an extension and a contract termination
I am getting ready to present my first MTR and am wondering about extensions and terminations. If a tenant would like to extend, how does one keep the booking calendar open for that possibility without losing potenti...
Michael Johnson
1.5M Property in Wicker Park, Chicago for 30K down
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $1,500,000
Cash invested: $35,000
4-Unit building in Wicker Park, Chicago. 3-unit front building with a dupl...
Steve Hudson
Qualifying as a real estate professional - taxes
We're exploring ways for my spouse (who does not have a full time job, but works 25 hours/week outside real estate) to qualify as a real estate professional as we build our short term rental portfolio. Curious if anyo...
Nicholas D'Andrea
MTR - Philadelphia via Furnished Finder
Anyone rent by the room via furnished finder? I am closing next week on my second property and will be using rent by the room strategy via furnished finder. Property located in Point Breeze between all local hospitals...