Jennifer Jacobs
Contractors requesting deposit - is this standard?
Hi Everyone,What do you do when your contractor asks for a deposit?My partner and I have always done our own rehab. The next project we are working on we can’t do ourselves and are looking to hire a contractor.We’ve ...
Brya Freeland
Rehab Project Manager - Chicago
Hey BiggerPockets Community - I am an out of state investor, with a property under contract located in Chicago, IL that goes to closing on Nov 20. For the last few weeks, I have been flying to the property to meet con...
Sachin S.
STR tax strategy to offset W2 when I buy land first and then build home ?
Hello BP STR experts, If I buy land first for constructing/manufacturing home, can I then claim bonus depreciation for such a constructed/manufactured home and use that calculated depreciation amount to offset my W2? ...
Naga A.
Rehab remotely?
Assuming that I engage a general contractor (who was recommended on BP) to do a rehab work on a property (nothing heavy, probably a 10K to 15K rehab work (external and internal painting, flooring, kitchen etc.), be...
Kristopher Govea
Calculating repair costs
I'm just getting started so please excuse my novice question but how do you calculate the repairs on a flip? I was told an easy formula is the square footage of the house times $30. Is this a good tool to use?
Colin L.
Rehab costs in upstate NY
Hello, I am putting in an offer on a home in upstate NY (I am originally from the area), but I'm unfamiliar w/ rehab costs. Any rehabbers in the area care to share their experiences? The property in question is an...
Anna Thanopoulou
Material participation - proof to collect
Hi everyone,I have a few questions around material participation for an STR:1) Activities that count: does anyone have a list of things we know for sure count (eg based on court cases?) Do home improvement activities ...
Jimmy Lynn
Balancing Time and Budget: Tips for Efficient Property Renovations
This is an interesting topic. There's more to it but I think this hit's some highlights and raises good questions. Plan and Research Thoroughly: Start by creating a detailed plan that outlines the scope of work, desir...
Karl S.
Qualifying as Real Estate Professional out of state
I posted earlier on trying to reduce my W2 income with REI, and got mostly positive responses to my idea.Now I wanted to get an opinion of a few CPAs and investors on how to qualify as RE professional when mainly inve...
Kyle Winters
Hard Money Loan Draws
I am doing my first fix and flip loan where the lender sends me draws after work is done. My question is how do new investors front the initial money to start work if the point of the rehab loan is that they don’t hav...