Alexander P.
Excited to join the community
Hello everyone!
We’ve owned a multifamily house in Rochester, NY since 2013 and have been managing it ourselves. We're considering selling the property due to challenges of long-distance management.
We're still inte...
Craig Lessler
Taxable Gain on a partial 1031 Exchange
Hello everyone. I am doing a 1031 Exchange and want to verify the portion of the gain which is taxable.1. Relinquished property is being sold for $159,000.2. Adjusted Basis is about $60,000.3. Fix up expenses to sell...
Rich S.
How much give to make this deal work?
Good day all. I'm just curious what various lenders would be looking for in compensation and structure of this deal:Purchase Price: $25,000Rehab/Holding/selling costs: $30,000ARV/Sale Price: $85,00090 days for purch...
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First Deal
I am just getting started. I've been looking for a while and this past weekend, I looked at 3 houses. Two of them look like VERY good deals. The other one needed a lot of structural work. Of the two, I like this d...
Henry Vasquez
Estimating future ARV for Hard Money Lender
Hi Everyone,
Can anyone explain the future ARV to achieve the 70% a hard money lender needs if most foreclosure prices are close to market values?
Ken Nyczaj
Single Family Condo Flip
Did a recent flip near Annapolis Maryland and it was a single family condo. First time I've come across this type of property, didn't even know there were single family condo's, and it was the first time I've flipped ...
Ken Nyczaj
Single family condo flip Annapolis Maryland area
Investment Info:
Condo fix & flip investment.
Purchase price: $170,000
Cash invested: $75,000
Sale price: $315,000
$170,000 Purchase Price
$8,000 Closing Cost
$4,000 Holding Cost
$75,000 Reno...
Stephen Gregory
Question about the 70% rule
Sorry if someone else already asked this question. I often hear on the BP podcast that the 70% percent rule states that you should purchase a potential flip at 70% of ARV minus the repair cost.My question is this: wel...
Andrew B.
Long term capital gains deductions
Any advice on exactly what one can deduct as an expense on a property i have lived in for 16 months and would like to now sell. I have a CPA but I get a little confused by all his terminology etc! Here is the story:...
Ryan O.
Made My First Offer
I just made my first offer on a 3/2 VA owned REO. I offered 62.5, the property needs about 32K in reno, I calculated my purchase, holding, and selling costs to be about 20K with a 150K selling price. I left myself s...