Dan Gandee
HOLY SMOKES! I Owed $47K In Taxes!
PHONE RINGS...My wife who does our real estate brokerage accounting and investment business bookkeeping just called me to say we owe $47K in taxes...{heart stops}.BUT I didn't blink an eye because I understand the tru...
Samuel Coronado
Looking at another park
I have another one I'd like to discuss. This is 5 mobile homes and one building being remodeled as a storage unit. 4 park owned homes and 1 tenant owned home. The POHs are $800 a month and the TOH is $300/month. Gross...
Ryan Stirling
Installment debt affecting debt/credit ratio
I have student loans that I am paying. I just pulled my credit report and they are greatly affecting my overall debt/available ratio. What happens if I pay off one of the loans, do I lose that debt + what is available...
Lokesh W.
Disadvantages of Reducing the City Assessment?
Good Morning,
My properties’ city assessments (Milwaukee, WI) are increasing and I guess this will be followed by an increase in tax. This includes my primary residence. I don’t plan on selling them anytime...
Eric Clunn
Assignment Fee When Structuring Owner Financing Deal
Hello,I'm currently structuring a wholesale deal with seller financing. How do I apply my assignment fee? I was thinking out of the down payment (Increase down payment by my fee amount and reduce the purchase price ...
David Ounanian
How Do I Manage Rising Construction Costs for Fix-and-Flip Projects?
Labor shortages and increasing material costs are increasing construction costs for fix-and-flip investors. To manage these rises, you can adopt a few key strategies to control expenses and maintain profitability:Accu...
Belinda Lopez
Estimating repairs on Burn Houses
Does anyone know if the BP Book on Estimating repairs includes any info on Burn house properties? Does anyone know if there are extra costs involved with burned homes over regular rehabs? I'm wholesaling a 6817 sq.f...
Oluseye Faleye
Does rent from Primary Residence reduce my Debt to Income ratio
I have been a member of Biggerpockets for a while and absorbing as much knowledge through the forums and experienced members. I currently have 2 rentals and a high priced primary.
I am currently trying to increase m...
Kaushik Sarkar
Primary residence sale within 2 years
Hi,I am a single family home investor, however we are looking to sell our primary home in Chicago and moving to Dallas this summer.We have bought the Chicago home in Nov'22. Would I owe tax on the profit I make on the...
Henrik Frank
Do the 50% and 2% rules apply to condos?
Since many condos have outside and structural maintenance built in to the HOA fees - do the rules still apply? I realize that some maintenance always will be necessary, but it seems some of the bigger ticket items can...