Chris Clemptor
Rental tax question depreciation confusion
I understand that you can subtract from your tax burden on a rental property using depreciation. I also read that it's based on the house value only, not including the land. I am wondering how most people figur...
M Lindgren
Condo as a rental?
I've found a condo foreclosure that was built in 2003 and sold new for $135,000. The current asking price is $24,500.
Assuming I can't get people lined up all day long to pay $850/mo, is there any reason not to buy ...
Vlad Denisov
Utility Income&Miscellaneous Income
Let's say we have our Gross Potential Rent and we add to it Utilities and Misc. Then we have to exclude Physical Vacancy and Economic Vacancy to get to our Gross Operating Income, right? 1. What info do you use for Ut...
Daniel H.
DTI
I have a question about DTI calculations. I have my primary residence and also a multi-family rental property. I know my DTI not including the rental property but I am not sure how to factor in the rental property. ...
Bienes Raices
Correct way to verify square footage?
I'm making an offer & trying to verify what's in the MLS. The house has a detached garage, so that makes it easy to exclude garage. When I measured the individual rooms in the house and added together, it came up ...
Orlando Paz
What is the breakdown of the 70% rule?
I have been using the 70% rule, since learning about it on BP's free book. I've also heard of other percentages as well, but for now focus on only using 70%. My curiosity is on how this percentage came to be? is it co...
Tracey Little
Getting a Deal.
Hello BP family, I'm a newbie trying to figure out wholesaling. I live in Baltimore, Maryland and my partner and I have started looking at properties and lots. I've started placing prospects on a list and have been ...
Chuck Win
S -Corp, C -Corp , LLC
I have 4 rental properties, All managed by 2 different Companies, One property is paid for, other three I have mortgage. My three mortages (3 different mortage companies) will not allow LLC or S- Corp, Question 1) ...
Danielle Levins
How To Calculate a Wholesale Offer
Good morning BP community,I have a really quick question regarding making offers to sellers in a wholesaling transaction. How should we calculate the offer that we make to a motivated seller?Typically I've been told t...
Jerry Limon
Clarity on the 50% rule for Rental Properties
Hello All,I was hoping to see if I could obtain some clarity on the 50% (60%) rule. I know that the 50% rule states that 50% of your rental income will go towards your expenses and then you would subtract your mortgag...