Jason Smith
Taxes and selling lot with two houses on it - Primary/rental
We purchased the property in 2013 for $49,900. It is a unique lot because on one parcel it has two dwellings. For the purpose of this post, I will call them the front house and back house. We lived in the front ...
Christian D.
Bonus Depreciation For Multifamily
We are filing our taxes for an multifamily property we purchased in October 2022. Regarding depreciation, I wanted to confirm if bonus depreciation (100% allowable for 2022) is only determined by completing a cost seg...
Janet Igo
Livable space does not match advertised
First, I do realize I probably made a huge mistake in purchasing a home without being able to see it in person. Yet, when your in a different State and trying to sell your home, and you must rely on the contract that ...
Curtis Magee
How to rebound after a fire
Hello everyone,We just had a fire in our fourplex. Only one unit was damaged and the tenant agreed to pay for all repairs. I don't think she can afford to pay for the damages, therefore, we are preparing for small cla...
Tim Geraghty
Getting equity
Last summer i purchased my first rental house. It needed a complete renovation. now there is a tenant in the house. I now have 80K in equity in the house that i would like to get my hands on. So here is the question...
Kyle Galloway
New LLC Financing issues-need guidance
My partner and I have formed an LLC. We have 3 properties that we are trying to transfer into the LLC through a Quit-Claim deed transaction. Simple enough. However two of the houses have financing on them through a ba...
Jay Ingram
A Fire Claim Process Description
Hello, BP! Over the past few months, many investors, bankers, and realtors have asked me about the process I underwent when a fire destroyed a duplex. Hopefully, this post will help you be less stressed and be able to...
Mike Hanneman
Insurance claim on rental roof?
Just had a couple recent wind storms come through within the last couple months, and was notified by the tenants that shingles have been coming off the roof. The roof is on my duplex, that I was planning on replacing ...
Leland S.
Bank loan terms, privacy concern
Are these terms normal for a lender to perform refinance? I'm picky about giving out broad approvals to use my information for any purpose that isn't specifically bound by purpose or time. The lender claims they canno...
Account Closed
mortgage and financing
I am new to the biger pocket community and new to jumping into real estate. My wife and I are trying to expand our portofolio and get out of the rat race. We stumbled on our first investment out of necessity of me wor...