Peter Zoltowski
Philadelphia Tax Abatement Question
Four years ago I purchased a property in the Kensington neighborhood of Philadelphia for $20,000. The home had been well maintained but was (and still is) in a rough area. In my spare time I’ve removed dated wallpaper...
Nilesh Baxi
4684 after Residential Rental Building fire.
Client's building burned in fire. Residential rental property. Fire occured on 10/01/2020. Cost: $400,000Depreciaiton: $120,000 up to 09/30/2020Insurance paid $635,000. Assume no Salvage value.Insurance payment w...
Andrew Lisi
Using IRA for Down Payment? Good idea?
We are looking to purchase our 1st investment property. As I'm learning more, I want it to be a 2-4 unit multifamily home that we would "house hack." We don't have enough savings for a down payment in Chicago (city pr...
Cody DeLong
Creative Financing for a paid off Probate
I received a call today from the executor of a will of a landlord I was friendly with. He put I had first dibs to buy his buildings and we're meeting next week. The buildings are 100% paid off and have been kept up ...
Tiffany DeTiege
How to price a a dilapidated house?
I have an opportunity to buy a dilapidated house in Austin from a family friend it is near I-35N and Rundberg. I hope to tare it down and but a duplex or quad plex. I want I deal. Are Austin's tax assessments accurate...
Henry Clark
Self Storage Deal 11- Just what you asked for.
From a conversation I had with an individual looking to get into storage. Specifically RV/Boat storage.Recommend you check out Loopnet ????????? Storage. Look at the RV/Boat facility for sale $945,000 in ???????????? ...
Megan Meconi
Selling a property from one LLC to another LLC
My partner and I have an LLC in Ohio, and we own a commercial property that we rent to tenants. We have a mortgage on the property, which will be paid off in about 6 months. We bought the property during a peak in t...
Jimmy Hendrix
500 sq.ft garage conversion to living unit
Can a 500 sq.ft garage be converted to a living unit(bath shower + small kitchen)? Are permits given? How much would be construction + permit cost together? Any good contractor referrals who can get it done for a best...
Kevin Carrillo
Turning already personally owned property into LLC
Good morning everyone,
My name is Kevin Carrillo. I have a 30 year mortgage on a 4 bedroom house in the Dallas TX area. I live in one of the rooms and rent out the other 3. After stumbling upon BiggerPockets on Youtu...
Margaret Feit
Can I Deduct Any Expenses During a Reconstruction Project?
I had a property that burned down in a wildfire last week. I will have an insurance payout, which I will use to rebuild. For tax purposes, here is my general understanding:The land value on my books will be unchanged....