Mike G.
Requesting help in understanding safe harbor applications
Hi BP,I recently incurred significant expenses for the exterior of one of my properties, and am requesting your assistance in understanding what I may be able to deduct in the current year. I would classify each of t...
Jim Farrell
Current Hard Money Terms
OK, I know I'm probably asking a question where the best answer is "It depends". However, I'm wondering what hard money terms YOU might consider for a $100K loan on a SFH rehab, with an expected in and out term of 9-...
Sarah M.
I bought a house! Now how do I get the money out to BURRRR it?
Hello! Thanks to you guys I just purchased a rental property in Minnesota! It's a SFR bought for 60k cash. It appraised for 90k. My questions are: 1 - What are my options to get the money out to do the BURRRR method?...
Mike Dymski
interest and penalties - safe harbor
I received an IRS tax notice with interest and penalties that related to the balance due with the filing of the extended return in October. Tax withholdings were well over 110% of the prior year tax liability; so, I ...
Nick Talvy
Driving for Dollars - Lead in Foreclosure
Hey BP.I sent out my first batch of letters to homes I found "driving for dollars" last week. My first call back yesterday lead to a homeowner who was a year behind in mortgage payments and said the home is set to go ...
Mike Schoeffel
I'm about to get a $100,000 HELOC. Now what?
Hey all. I'm a long time BP podcast listener, but this is my first time posting in the forum. Anyway, I'm set to close on a $100K HELOC within the next couple weeks. I'm interested in hearing some seasoned veterans' o...
Account Closed
Miami Market Trend: Low-Rise Condos
I wanted to share some thoughts I have been developing for my clients regarding potential investment opportunities in older low-rise condos in Miami, Florida. Investing in older low-rise condos in Miami, Florida, is ...
Sunshine Chow
Red flags to look for in HML agreement and project insurance?
Hi BP Fam!Can anyone please share some insight as to some specific items to look out for in hard money loan agreements and insurance policies for a fix and flip? What clauses should be included? or which clauses shoul...
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when attending auctions
i have a couple of questions . 1. at auction you are looking to buy a certain property the claim amount is $65,000 will the auction start at $65,000 are lower ? 2. will there be people from the bank that is foreclosin...
Andrew Namkoong
Depreciation Basis for BRRRR property
Hi everyone,I am trying to figure out what the depreciation basis will be for the property that I will be closing in two weeks.I am buying a property with full cash, doing some minor exterior rehabs (place is already ...