Micah Bell
Coin Laundry Services for Multi-Family Properties
Does anyone use a coin laundry service for a Multi-family property in Memphis, TN? We are currently using a company and have been extremely disappointed with the service. We can never get them to come fix their mach...
John K.
Paying Taxes within calendar year with closing
Tax question - Closed on a property mid-year in 2015 (buy and hold), HUD-1 gives the credit for property taxes payable for mid-year tax estimate from seller. Example:HUD-1 Property Tax Credit: $3000Taxes during my own...
Janine Ayres
Rehabber needs note quote!!
Property newly rehabbed in Las Vegas, Nevada.
1,404 sq. ft. living, 3 bedroom, 2 and 3/4 baths, waterfall and inground spa, 3,700 sq. ft. lot, year built 1984 - effective age less than a year due to rehab. One house...
Lilac M.
Tenants want to Rent-to-Own
My tenants want to rent-to-own the property they are currently renting. Unfortunately they are under the impression that the property is worth a lot less than it really is, although I've told them the actual value. ...
Sean Rogers
How to account for a duplex on tax return
I have a friend that bought a duplex. He lives in one room. He rents the other two rooms on one side to his friends and has the other side rented out. He is saying that he can not take any portion of his house and st...
William Curry
Does a gift of equity on a house mandate a capital gains tax?
My aunt is selling me a house in NJ for 400k and it is appraised at 480k. The 80k is going to be a gift of equity. Does she need to pay a capital gains tax on the 80k?
Savannah Smith
Questions from first time renter.
Hi. I'm 19 years old and just looking to rent my first place and I have a couple questions I'd like to sort out. I just want to make sure I have all the right information. I have found a roommate who is a bit older th...
Tiankhy Hinton
401k question
Has anyone ever tapped into their 401k to begin their career in REI? I currently have a 401k with a little over 100k. The retirement fund is mostly made up of employee contributions, employer contributions and defer...
Benjamin Cowles
Please help me understand HML costs
So I spoke to a HML today regarding a potential deal that had (our) offer been accepted would have been at a purchase price of $400k for an ARV of +/- $550. Seems like a good spread no? 40-50k rehab, up to 7k holding ...
Robert Harvey
Funding Deals / Partner Expectations
Hi All,
First, thanks for the forum and tremendous expertise and support. I am doing a lot of reading and research here while working full time and while real estate investing seems like a daunting challenge I am loo...