Igor Tomic
50% rule and utilities
Can someone please tell me do utilities go in 50%?Example if someone is renting duplex for 800 inclusive each unit, so do I count my monthly cash flow 1600/2 minus mortgage or do you count after you pay utilities. Let...
Shawn Gardner
First deal
I'm working on my first deal and it's an REO. Asking price is $41,600 and I looked at comps and they're around $135,000-$145,000. This place is going to need a $60,000 make over. I plan on putting in an offer tomorrow...
James Free
Basis for Depreciation
I occupied a house for seven years, then moved and began renting it. I cash-out refinanced months before the move, as it had appreciated 60% since I bought it. Now that it's a rental, I can take depreciation, but usin...
Eric R
Deal or no deal???
I am looking at a quad in my area. All 2/1s with w/d connections. Building is all brick. It is currently a short sale listed at 200k. 2 units are currently rented for 700 each. The other 2 should command the same....
Jimmy Gooden
Selling equity in a LLC that generates 40-45k a year..
My and my partner have 11 houses in an LLC. Then I have another house on my own that's part of the LLC but it's mine in a separate agreement for profit and selling sake.
I am making about 40-45k a year on paper from ...
Josh Stanley
1% Rental Income Test
Do you base this 1% test on ARV or total amount invested (Purchase Price + Rehab Costs)?
I find that I can rarely make the numbers work in my area based on ARV but If i use total amount invested (Purchase Price + Reh...
Thuy Pham-Satrappe
Who pays closing costs on equity split buyout?
2 brothers inherit a property with substantial equity. One wants to cash out and the other wants to fix it up to keep as a rental. Brother A offers to buy Brother B out of his half of the equity (using fair market va...
Justin Young
What is rental income?
Hey BP, what exactly is rental income? Is that considered all the rent generated from your tenants? Are there any expenses subtracted from the rent to equate the rental income? Is this only considered cashflow? Does r...
Rich Davis
Income Expense Spreadsheet
Just brought my first duplex on Tuesday. I moved in and received my first months rent. What is a good spreadsheet to use to track income and expenses?
Richard McCaig II
Deciding on price / oil burning furnace
Newer guy here. This is my second thread, and I have a lead on a house across the street from me. It appears to be in decent shape from the outside (havent been inside yet) and the owner is moving out of state late De...