David Baier
Hacks for discounted materials for flips
I'm curious if anyone out there has any tips, hacks, or relationships with contractors who get materials cheap. Any experienced house flippers here that have found ways to get bulk discounts other than buying material...
William Brock
Are furnishings tax deductible?
I am in the process of buying a STR lakehouse and was wondering if the furnishing costs are tax deductible? I'm talking furniture, kitchenware, etc - everything I need to have in place to rent it out. I would expect y...
Ivan M.
Turbotax and Depreciating One Rental - Weird
Why does Turbotax create TWO entries under "Your Property Assets" for the same property? This creates two line items for depreciation which "seems" incorrect. The one entry turbotax creates appears to be exactly what ...
Hadar Orkibi
Chattel Valuation When Buying Investment 4-Plex
Hi Team,I would appreciate some feedback on commissioning a Chattel Valuation in Little Rock Arkansas. My lender is getting the property appraised but it sound like this appraisal doesn't cover the value of the chatte...
Julie Halloran
Tax question: Incur rehab costs before or after Jan 1st?
I'm currently undergoing a renovation on a 2-family I purchased a couple of weeks ago. I anticipate the renovation to last past the new year, and will include items like painting, refinishing floors, new kitchens and ...
James Rohrbach
Determining cap expenses percentage
Hello BP community.
I have been analyzing some 5 unit multi-family properties lately and was wondering when factoring in cap expenses at 5%, should that percentage be per door for 25%, or should it just remain at 5%...
Vinny Gaines
Prospecting subcontractors
Hello,I'm looking for one or 2 subcontractors that can handle my future rehab projects. What questions should I be asking them? How can I screen them? I'm trying to answer these questions so that I have some sort of f...
Michael E.
Repairs vs. Maintenance vs. Capital Expenditures
I'm a little confused about the terminology of what is a "Repair" vs. "Maintenance" vs. "Capital Expenditure". CapEx is the easiest to understand for me...big ticket items like roof, water heater, HVAC, new floors etc...
Henry Polanco
How do I properly estimate rehab costs?
Hi all, I'm looking into getting into flips in Philly. My biggest hurdle is estimating rehab costs. What information should I use to get a close estimate for my materials and labor?I read that using x dollars per squ...
Kristian Peter
Lowes
We have had a great time with the Commercial Services Desk at Lowes. They price our materials for all of our Flips, and we are utilizing very high quality products at discounts of 15% to 25% from retail. The best pa...