Christopher Eaton
A quick transaction, or buy and rent?
I went into a deal with someone we'll call Rob. The deal was simple: Rob purchases the house, and I pay for all work that needs to be done. The house was purchased for about $150,000. The house needed what I would con...
Michael Zagorsky
Cost Basis and Losses for converting rental to personal residence
We had a tenant leave our rental property in May of this year. We received about $5,000 in gross rent. The tenant trashed the property and we had to spend about $8,000 on repairs. Including new paint ($4,400) an...
Josh Pass
Taxes on selling properties for the same amount I bought them for
hi, I bought three properties 1+ years ago through a turn key company. It hasn’t worked out as I’ve liked so the turn key provider offered to buy them back from me for the same amount that I bought them for. This ac...
Grayson Chao
Have to move out of state - advice on what to do with my primary?
Hi all. I own a 3B/2.5Ba townhouse in Fremont, valued at $905k, with $690k left on a 30year fixed at 5.625%. For personal/family reasons, my wife and I need to move out of state sometime in the next 12 months.
I’m tr...
Thomas Dorwin
Sell your house at a loss or make it a rental?
I have a young friend, lets call him "Matt" who owns a 4 BR 2.5 BA in a northern VA city just outside Washington, DC. Matt listed the house with an agent asking $439,000 and hopes to sell it at $430,000. He is upsid...
The FIRE community is notorious for chasing early retirement at all costs. Many search for creative ways to earn more money and spend less of it, only to end up hating the journey. If you’ve ever felt burnt out or dis...
Every investor would love some extra cash flow…but at what cost? Does it make sense to go all in on a large down payment so that more money trickles in each month? If you want minimal debt, have no plans to scale, and...
Edward Francis
Newbie in Syracuse, NY area
Hi. My name is Ed Francis and live in the Syracuse, NY area. I currently work in the Information Technology department for one of the companies.I'm new to real estate and started listening to the Bigger Pockets podcas...
Jonathan Leblond
Insurance for rental property
Hi, I need help with different type of insurance. I think I heard on a podcast that you can insure only the value of the mortgage for a rental. For example, 1. The building is bought for $200 000. 2. The mortgage is $...
Mike Finn
Tax implications of selling a rental property
Hey everyone, new to BP and have lots of questions. Sorry if this question is too broad or basic.I am trying to understand a basic tax scenario. Let’s say you sell a rental property for a 100k profit (just to make it ...