Mike Richter
BP Newcomer - San Angelo, TX
Hello everyone in the BP community! I'm Mike Richter and I live in San Angelo, TX; originally from Los Angeles, CA. I'm serving in the Air Force at Goodfellow Air Force Base where I teach teachers how to teach and dev...
Account Closed
Wholesale real estate
If take the profits of a wholesale deal and do a 1031 exchange and put it into a rental property is that money from the wholesale deal tax deductible
Nick White
Formulating a plan
Hello BP community, I wanted to throw out a newbie question, what is the optimal number of rentals to offset earned income? For example say 100k. Plan to ask my CPA, but thought I would ask the BP community there opin...
Billy Au-Yeung
401K lump sum distribution WASH Trad IRA contribution = no tax?
I have a client who is 62 yrs old. He would like to request a 401K lum sum distribution from his employer for downpayment of an investment property sometimes in the year. Say the amount of 401K distribution is $40K ...
Matt Kistner
How much capital should I have saved up prior to a purchase?
Good Morning Bigger Pockets and Happy Friday! I looked at a 4 bedroom duplex last night that is in a great location, it sits right across the street from UHS hospital in Binghamton, NY. It is in great condition it wa...
Bruce Clark
Existing LLC becoming a Member of a new LLC - tax question
My partner and I currently own and operate an LLC that owns and manages several residential rental units.We were recently approached by an individual who wanted to invest in real estate. We formed an agreement that my...
Clayton Crawford
My greatest deal is slipping away!
I'm having serious trouble getting a loan. I have a property under contract. It looks like this.\purchase price = 95k.down payment = 15% = $14,250Renovation = 5KARV = around 140KClosing is around 5k. The bank (well Fa...
Cydney Gray
There are good deal everywhere - partner with a good lender to find them
I want to give you guys an example of a deal that is available right now in Oahu, Hawaii. It is a 4 plex listed at $1,175,000. Don't choke on that price! If you got a FHA loan, you can use the rental income to help yo...
Michael Dunn
Distressed Properties ( locating the Owner ) & Taxes on Proceeds?
I have a few random questions that I'd like to ask and get feedback from others please ( Thanks in advance ) ......1. What is the best way to find out who the Owner(s) is , on a property that looks distressed and or ...
Ryan Bird
Tenant income rule for 3x rent
Landlord using income criteria, which one would you suggest from list below or there other alternatives? 1. Combined income of 3x2. Each applicant has 2-3x income 3. At least one of the applicant has 3x income4. Any o...