Jeff Womack
Taxes on one time investment sale
A buddy was thinking of selling his former residence that was in disrepair from years of renting. I love doing home improvement and struck up a deal with him. He agreed to sell the home to me for an agreed upon pric...
Mike Seluk
When one place will cashflow and one will not -
I currently live in a condo that costs $800/mo for PITI and HOAs. The rental comps are $750 on the low side, $850 on the high side. It's break-even at best, but being realistic, it's not really going to make me mone...
Brock Roorda
Record Owner Finance Land Sale in Quickbooks
Hello,We had some land that we purchased earlier this year and went through the platting process with the county to subdivide. We sold a few parcels off already in a traditional fashion but I have one that has me scr...
Jimmy H.
Elections, Grid-lock, Foreclosuregate and the effects on RE
It seems inevitable that the Republicans take control of the House, and likely gain many seats in the Senate.
This type of situation is called "grid-lock" becuase both parties can essentially keep each other from get...
Todd Powell
Question: Can you take two different LLC names and do 1031?
Here are the specifics. I have ownership with my wife and older son and his wife, all 25% each as members in two different properties. One is a 5 plex, Powell Properties Milton St, LLC and another 8 plex, Powell Prope...
Douglas T.
Getting a mortgage with rental income
I'm about to convert my Chicago condo to a rental property and move to Fort Lauderdale. How long must I rent my Chicago condo out before I can count the income toward another mortgage in Florida? Is it different from...
Mike X.
Landlord insurance in Broward/Dade county in Florida
Here is my situation - I own a 1 BDRM condo in a 10 stories building on 6th floor, the condo is under home owner association (HOA). The apprised price on my unit is app 140k, I'm planning to rent it out in a next mont...
Phillip Trujillo
Central Georgia REIA's/Clubs/Meetups/etc.?
Hello BP community,
I'm relocating from the UK (active duty USAF) to Warner Robins, GA in December and am just curious how the local REI "scene" is? Are there REIA's/Clubs closer to Warner Robins / Macon tha...
Elizabeth J Humphrey
how can my property have 2 liens against and I don't know?
So here is my story, I have owned my home for the last 17 years and have refinanced at least 5 times in those 17 years. The most recent refi was actually to acquire an equity line of credit, basically because we owed ...
Charles Craig
New to BP (Wichita, KS)
I'm new to the local area here in Wichita KS. I'm looking to get into investing here. I would really like to hook up with a mentor to help me navigate getting stared here in the local are.
I currently own one propert...