Lonnie Thomas
Gift Letter to close on property
I am just about at the finish line on closing on my first investment property 11/4 is the close date. I have an investor gifting me the funds to close. The bank is making it hard saying that a friend can not gift the ...
Blake Ramsden
House Hack - AG Exemption - Wildlife Exemption
Hey there Bigger Pockets!Been a long time listener and reader on the site, hoping to tap into the collective intellect and experience of the group and gain some outsider insight to my plans for my property and investm...
Richard Yerger
Getting out of bad debt
Today I read a great book. Some may know it "The Richest Man in Babylon." I am a store manager for a pizza place. I make a little more then 50k a year and I am always broke. So today I figured out my low and high of m...
THU NGUYEN
Would you buy for equity but no CF? Please advise!
Hi BP,I am analyzing a deal that I am interested in, almost turn key, ARV: $150; asking price: $115K, closing cost: $2K, repair cost $7K. All in cash for $124K. Assume I can refinance and get back $112.5K (75% of $1...
Amul Sutaria
Need advice about financing
Hi BP'ers!So I am looking at properties in the 70-90K range (in PA) that I want to buy and hold. Problem is, the family member that told me they would let me use their HELOC no longer wants to help. OK, fine. Time ...
Charlie S.
House Hacking in NY/Jersey
We are relocating to NYC for a job, and want to house hack. What neighborhoods are most attractive for 2-4 flats? Does anyone have any experience they can share and what did you consider (i.e., NJ vs NYC, FHA, turn...
Ruth Escobar
First time home buyer - KB Homes
I am trying to buy my first home to live in for some time and then rent out in the near future in Houston, TX. I am looking into a 3,348sft KB Home that was built in 2012. It needs minor repairs (carpet changed, dee...
Tammi Bieniek
Cash out refinance to buy another property with cash. Mistake?
Hello! I am closing on Tuesday on a triplex that I’m buying for 100k. I plan on making the 2 bottom units STR nursing professional furnished and the top unit a Airbnb. Seller is giving 5k back for closing costs. I o...
Tom Nguyen
Is it good idea to show Huge depreciation after cost segregation?
Hello BP.I wonder is it good idea to show huge depreciation = huge loss after cost segregation with 100% bonus depreciation.My CPA recommend not taking all deprecation because He/she not comfortable with all the pap...
Greg L.
Mixed Use Investment Purchase
I currently own a 9 unit multi-family and a mixed use fourplex both of which has commercial financing, so I'm familiar with the typical financing arrangements and valuation. I'm in negotiations to purchase a 6 unit m...