K F.
Offset profits of a flip w/ a home we'll live in for a year? Help
Hi Everybody! I need to get a question answered ASAP because my accountant isn't getting back to me, so I figured I'd try out asking the BP community. We would like to make an offer on a townhome that will eventually ...
Cam Jimmy
BRRRR Tax question - Stepping up basis
When you complete a BRRRR, can you elect to have all of your expenses of the renovations be added to the basis of the house?For example - you buy a house for $100,000, and put $50,000 into it (Including repairs, maint...
Benjamin Suarez
How My Friend Jerry Acquired 200+ Doors in Real Estate by 27
Hi everyone,
This is Ben, and today I'm thrilled to share a truly inspirational story. This story is about my friend, Jerry Gonzalez, a 27-year-old, who managed to acquire an astounding 200+ doors in real estate thro...
Brad Rondeau
Cash on Cash for Single Family Home in Mid West
Over the years I have had several rental properties in my state (CA). After years of low Cap Rates and cash flow in CA, I decided to buy my first single family home in suburb of Cincinnati. I bought in a nice neigh...
Paul Cijunelis
Started a new PM!
I own about 40 props in Illinois and N Indiana and have been working on taking the next step... starting a property management company. We are opening Monday!Question for the experts here, for lead/radon disclosure, I...
Brian Nel
What due diligence in determining cost basis for depreciation
In reviewing my taxes for the upcoming year, I've been looking more closely at my Schedule E and reading more about depreciation and cost basis. I know that your cost basis needs to be accurate, a number the IRS agree...
Brandon Hicks
Anyone ever manage/test drive apartments with the intent of buying them
I met with the sellers of a small apartment complex in the 10-20 unit range this morning. The NOI for 2012 was $10k below what their loan payments were for the year. I feel like I could negotiate a no-money down la...
Evan Barney
Section 179 Expense Election - Immediate deduction of assets
Hi everyone, I am currently taking a Tax Analysis class at my university and I came across Section 179 in the tax code. Based on the discussion in class, it seems that as a business owner you can elect to immediately ...
Syed Ahmed
New Tenant Wants Everything
Hi everyone, So I purchased my first place and everything went smooth. Found a tenant who fit all my criteria, passed credit check and background check. We did a move in check and I went over lease in detail. Th...
Jim Sestito
Thoughtful Tenant Gift Ideas
Hi BP,
We all know the stress that 2020 has brought upon us all. I wanted to get a small gift for tenants. Something that just says thank you for hanging in there and things will be better!Let me know any ideas you...