Jason Rogers
Help!! Flip Accounting
BP Community I need some help. First off I understand that you are not a tax professional (and even if you are you are not giving me professional advice). I plan to speak with my tax advisor on Monday but I need to cl...
Andy Bondhus
Auto loan interest, is it deductible?
If I'm using the standard mileage rate for 2017, can I also claim my business use percentage for my auto loan interest? My accountant says no, but I've read in books that you can still claim auto loan interest in add...
Jackson Halverson
Cash Out Refinance - BRRRR
Hello, I am new to real estate with a quick question upon the BRRRR method and the cash out refinance. If I buy the run down property out right with straight cash do I still have to wait the 12 month hold of ownership...
Nicholas Hariprasad
Creative Finance + BRRRR. Is it possible ????
Hey guys I’m taking a dive into the creative finance game. There’s a lot to uncover and lots to learn. For the BRRRR method, you would normally buy properties at a discount then rehab to force value. When buying a pro...
Michael Filson
Seek Advice on Valuation Challenges
Hello all!I'm part of a group that owns 10 commercial buildings in San Diego, CA. The time has come to buy out two of the partners, but we're struggling with the valuation. The buildings are unique, old, all different...
David Griffey
Framing a basement and egress window
I have a couple of questions. First I just had my flip property waterproofed or redirected. So, I was told I could not nail any studs or carpet strips to the floor or I would void the warranty. What is the correct ...
April Benard
Painted Cabinets
Hi Flippers/Rehabbers.... What are your thoughts on painted cabinets? Should I make the investment for new cabinets or can cabinets be preserved? This project is for a flip.
Randy P.
DTI calculation for Mortgage, Rental income calculations
I am planning to buy a new rental property with a new mortgage(Conventional 30 year) but was wondering how my old rental property counts in my DTI because I believe my lender is calculating it incorrectly. I currently...
CL Ziegler
Expenses, Repairs -vs- Improvements
Hi Everyone,On my last three tax returns my CPA surprised me by prorating several of my HUGE expenses, citing that they were improvements so the full amount can't be claimed on one year's return. (he diviede them over...
Ryan Collins
Tax Questions - Calling All CPA's
I need help with a tax
question - I bought a house with my father to flip at the end of last year. So,
by government classification we were a general partnership at the time. We
financed the house using a loan in o...