Alan A.
Positioning oneself for first loan: Claiming taxes
Hello BP.Thanks in advance for taking time out of your day to consider my question.I am trying to position myself to obtain financing for another rental property next year.I currently have one rental property, of whic...
Damian Hill
Quick Claim deeds/taxes repos to start???
Hi everyone. I am an prospective investor with little (or no assets), and I have emnarked upon getting my feet wet via quick deeds! Also, sherriff repos in which you pay the taxes owed on the property and I believe yo...
Robert Lockwood
Claiming Depreciation in LLC vs. Personally Owned
My most recent tax filing made me more aware than ever of the potential benefits of claiming depreciation. I've since sold that single family rental and have a contract on another in my area, near Denham Springs, Lou...
Debra Steward
Quit Claim it or forget the deal
I tracked down the seller for this property I want. He will sell me the property for $500 bucks but only as a quit claim deed. I checked the property and it needs about 30K in repairs. My concern is there is a mort...
Mike Osterman
Seller Claims Murder, Buyer says a Suicide.
What? There's some copy eh?Do you notice that the most unmotivated sellers call the moment they get your letter? Getting calls all through dinner tonight, everyone wants to sell. I want dinner (and a deal). I'm taking...
Michael Dunn
Rental Income and Claiming it on Taxes
If you buy a house and live in it for 1 year and then Rent it out - Repeating this Process to accumulate Rentals......... Don't you have to wait at least 2 years per Property before a Lender will use 70% to 75% of the...
Kurt Maule
Foreclosure - Pay Reinstatement, Quit Claim, then Refinance
Hello BP Family,I have been getting a lot of pre-foreclosure leads. This is where the auction date has been set and the owner is trying to leave the property but not affect their credit.There is a low-equity deal that...
Greg Tunes
Subject to financing VS Quit Claim Deed
What is the difference between buying Subject to financing VS Quit Claim Deed (Quit Claim if you've done your title search homework) from a liability standpoint? Are there pros and cons between the two documents (resp...
Phil B.
Neighbor claims water damage from my unit
We own 2 units in a 4 unit townhome. Neighbor emails me today stating that water from one of my units gutter has caused damage in her unit. A bit more info - Last month I replaced the roof on my two units (end unit ...
Jack Galloway
Claiming land as a farm for taxes
What are some creative ways to meet the requirements for claiming land as a farm for tax purposes, allowing me to deduct all related expenses?
Details: I recently purchased 10 acres with a house, barn, pond, etc. I...