Greg Widdicombe
Accounting for Rehab hold back
We normally use current asset accounts to track 'expenses' for our flips - a Construction CIP account, with a sub account for each of purchase, holding, rehab, and selling costs. We use classes for each property, and...
Brian V.
How can I invest in Apartment complexes and live for free?
My wife and I are retired. We make about $30,000 per year. Its very modest. We have $20,000 in the bank and about $50,000 equity in our house if we sold after selling costs and real estate commissions.I had an idea th...
David Nielson
What is the max price to pay for a fix and flip?
There are two ways for you to calculate your MPP.
The first is a much more detailed approach and requires you to estimate all your costs from the beginning to end of a project.
MPP Calculation = After Repair Value ...
Andrew D Hansen
2nd property (2nd home) not a rental regarding if closing costs are deductible
Are all closing cost which includes relators commission, title company closing cost, city tax and hoa for condo fees all deductible? This was not a rental and pls be detailed in answer. Thank you.
Donovan Curry
Can you use hard money loans to buy foreclosures
Hello everyone, I'm a fresh newbie to real estate investing. I'm located in Austin TX and looking to invest in the metropolitan areas because I keep seeing location, location, location. Anyways, this is my first post ...
Shelly Floyd
Is this a good Wholesale deal?
I have found a condo in a desirable location in the Austin area. The current condo's in the same building have an asking price of $112,000 to $120,000. It does need to be painted (inside), new flooring and could use ...
Sam Fickel
Is this partnership agreement fair?
Okay, this is in the suuuuper early stages and I don't know what I'm doing yet, but I wanted to get y'alls general thoughts.I have some money, and I met a flipper that needs money. I don't have enough for the full dea...
Mohammad Haidarasl
Would this be a good wholesale property?
I am just trying to identify good wholesale opportunities, as I'm new at this. I found a property in San Antonio, TexasSo far, these are the statistics:Appraised: 72 k Improvements: 61,620 kLand market: 10,380 The way...
Yeng Hawj
Should I take advantage of the situation and do a 1031?
I'm getting ready to sell a SFR, there's about $200k of equity in it. This property was bought as a rental and financed under my name but realistically owned by my sister and brother-in-law. They did the same for us...
Jennifer Martinez
Potential Deal Analysis
Hi BP friends! Help!Potential Deal Analysis. Tell me what you think! Looking to flip property. Will be my first. Tried to do the numbers the best I could using average cost of closings etc. Did I go to high on monthly...