Yohannes Kifle
First Deal Analysis Tips
Hey BPI'm thinking of making my first offer on a triplex and I was hoping to get a quick sanity check and some advise about an interesting aspect of this property. I'll start with that.One of the tenants is a convenie...
John Menton
Massachusetts Land Lords - Trust or LLC
I know this question has been asked a million times but I'm looking to be a little more state specific. I've noticed most multi family properties in my area (bridgewater, west bridgewater, easton..) are owed by a tru...
JD Martin
Pre-paid rent - taxable in the year accepted or year applied?
Good afternoon all!Before I do my taxes, I have a unit in which one of the tenants (a college student, parent paying) prepaid their rent for the first 6 months of 2016 in late December. Should I claim the income based...
Account Closed
New House Hacker - Taxes & CPA Help in Palm Beach County FL
Hey there and happy holidays from Florida! First time homeowner who purchased a multi-unit with my boyfriend. We're renting out one unit to a longterm tenant and Airbnb'ing the other. We both work full time, regular 9...
Sue Zikria
Buy 1 Apt building or separate townhomes
Dear Forum,Is it more profitable to invest in an apt building with 5-6 doors with 3k monthly passive income or 30 separate units or townhomes with $100 monthly passive/unit which adds up to same 3k. Please note the do...
Dawn Wilkins
Seeking Tax Tip: How to expense seminars, bootcamps, guru materials
Question: Is it best to classify these expenses as education or consultation in order to avoid later IRS scrutiny?On the advice of this site I joined my local REIA. Unfortunately I didn't heed all the warnings. Went t...
Michael Junior
Assessing a deal.. how to take the most risk out of it
Hey can someone just either fill me in.. or point me in the right direction. How can I asses wether the deal is good or bad. Someone please break it down. I understand you need to run the numbers. The way I under stan...
Account Closed
Fair analysis or too conservative??? Newbie here
I'm a newbie here and would greatly appreciate some feedback.3 Unit PropertyList Price 69,90020% down (13980)Loan 55,920 at 7% for 30yrs = 372/moINCOME2125/mo (25,500/yrly)EXPENSESTaxes 3087yr (258/mo)Ins 1200/yr (100...
Carl M.
Rehabking a rental vs. a flip. How is it different?
What are some ways that you would rehab a property differently if you were renting it versus flipping? How would you do the flooring different? Kitchens etc?Any input would be appreciated.
Jeff Brower
Paying yourself 3% commission on personal property purchases?
Good morning everyone. I would like to get some opinions on a situation that I have been contemplating regarding personal purchases. I am soon to be buying a 3 or 4 plex to owner occupy with an FHA 3.5% down loan. I a...