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I purchased a property earlier this year that was in terrible shape and I believed it was a teardown so I got it for the land value. I planned to BRRRR the property. I cleaned the property and lot up and repaired the ...
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I have been trying to read up on the 1031 exchange rules and haven't gotten a clear answer. I currently own a rental property (condo) with a decent equity. I was thinking of doing a 1031 exchange and buying a SFR that...
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I am selling a flip and expecting a 40k profit. Here's what I want to know:Can I do a 1031 to acquire a property for 130k, using the full 40k for a down payment. Then pull 70% of that back out via refi without having ...
Hi All,Need some tips on how to convert rental property to a primary residence. My friend has two properties: 1 for rental and 1 for primarily resident. his rental has been in a rental for 5 years already and it's val...
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Good morning BP family! Where can I find a 'Letter of Intent' to take control of a property I'm interested in wholesaling?-GG
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Is there any way to avoid paying personal income tax when flipping a house?Could you hold it for longer than 365 days and only be subject to longterm capital gains tax?Alternatively, could you fix it up and call it yo...
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Hello all! I am going to sign contracts on my first flip on tuesday. We did well and made big profits and the experience was incredible. Now I want to avoid paying taxes if possible. Do any of you more experienced fli...
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I'm new to the investment world and trying to learn everything I can from all you smart and educated people here (big thanks to @jonholdman)!
I went to a financial / flipping seminar and listened to this stra...
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Hello Fellow Well Endowed Pocket Havers,Background: Recently purchased a single family home in Philadelphia as an investment hold property in cash. Decided after buying the house it would be worth selling due to comps...
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I had a question that was a bit above my current knowledge level, wanted to get some opinions here (thank you in advance). 2 months ago, my wife and I purchased an investment home that sits on a double lot. My agent ...