Account Closed
Do we really get tax benefit for rental property?
Lets assume a Scenario: A new investor who invests $150K on a first rental property. No other retal or home mortgages.
IRS: US govt already allows a "Standard Deduction" of S24,400 (Married joint filing). The other o...
Aus Smith
Property Management - Contract and Fee Structure
Hey All, I am a CPA who works directly with Property Managers. I have worked full time as an accountant for a property manager for the last six months. I am looking for information for contracts between owners and pro...
Rigo V.
How to pay a GC? How to figure out scope of work?
how you do pay your GC? If the GC requires a deposit and the HML only pays after work is completed (completely makes sense) does the deposit come out of pocket? Also, I read a few times that your quotes from GC’s need...
Jazmine S.
Open house tonight for a flip! Advice?
I know it will be a blood bath. 100k original asking price for a 4 bedroom where most 1 bedrooms have an ARV of 100-180. The property was under contract within hours of listing and I assume they realized they could ge...
Brad Spencer
Magic Formula w/ VA loan
Hello, BP.
I first wanted to say thank to so many of you for the insight over the years that I've been listening and reading your input. This is my long overdue first post and it's based on a strategy that is a mixe...
Matt Liu
Ethical question: larger deposit returned
I had a deal fall through due to the seller's poor title. After I spend 300 on inspections. The agent sent me back the deposit, double what I paid by mistake. I feel the right thing to do is tell him and send him b...
Kay Bush
Contract and Addendum to Agreement to Sell Real Estate
Please help!I found a property, made an offer, the seller agreed to the price and sent me a contract. What are my next steps before I'm legally obligated to buy the property? I don't want to send it back because I'm n...
Caleb Smith
Tenant Breaking Lease due to Temperature in House
Need advice for a current situation.A resident told me today that they can no longer live in the house they are renting from me because the main floor of the house is too cold.We have had a professional look at the fu...
Ed L.
Possible to build anything for sub $35,000??
As demand increases and foreclosure inventory continue to shrink I'm finding the competition for single family homes in the $25-$35,000 price range to be getting out of hand.Not long ago I acquired a parcel of land th...
Chukwudi Motanya
Tenant Screening
Hey all,About to hire a property manager for my first property, and even though I will be working with them to find a tenant for the house, I want to know in general what criteria you guys use to screen for potential ...