Matthew Vorce
First Duplex Closing Costs
Hello BP!I am working on closing my first duplex deal in Mount Clemens Michigan. The duplex is 2 - 3/1 units with a price of just over 100k. The loan I am using is an FHA loan with 3.5% down. I received the closing co...
Dave R Ludolph
Working With Partners
Hey BiggerPockets fam! I plan on buying my first property by January 1 at the very latest. I just kind of wanted to tell everyone my plan with my partner and see what you all think. Constructive criticism welcome! I p...
Account Closed
how much to build a house
ball park estimate. if comps run on a house at 250k in a neighbhorhood, and every other house is worth 250k as well. what does it cost to demolish and rebuild that same house?
Daniel Burant
Short Term Capital Gains
Hello BP Community. I’m kind of in a weird scenario here and I’m looking for a little direction.
Six months ago my wife kids and I moved out of our owner occupied duplex and purchased our second property single fa...
Karl Washington
Should I save up money to pay for a title search before doing my first deal?
Hello, I haven't done my first deal yet. I'm worried I won't have enough money to pay the title company for doing a title search if my deal falls through for whatever reason. I also heard that I should tell the title ...
Kate Ellis
LLC Taxed as an S-corp for flipping
We just set up our LLC in Illinois to flip houses. I'm preparing to file for our EIN with the IRS and need to decide if we want to be taxed as an S-corp or partnership. I'm all for S-corp except for the requirement ...
Sachin Amin
Lenders for Turnkey Properties
Hello BP community -
I am in contract with multiple properties Nationwide with Turnkey providers - looking for recommendations/suggestions on below cases if the closing costs make sense. Here are couple of examples ...
Brian Sorensen
Is this partnership fair?
I have a house under contract for 138k. ARV is 240k. Rehab is 30k. I'm offering half of the net profit to an investor who can provide all the funding. Do you consider this to be a fair deal for both sides? I'm also a ...
Michael X.
Land value, improvements and depreciation
This is a scenario that I have not run across before. These numbers are roughly based off of the auditor's website.
A commercial property has a higher land value (100k) than the depreciable improvement value (60k). ...
Joshua Norwood
50% strategy on 100k vs 200k
Im very curious to know if anyone has any insight on this. Would you use the same 50% rule on a house that you buy for 100k that rents for $1000 vs a house that you buy for 200k that rents for $1500? Wouldn't the expe...