Brett Ferrara
Depreciation calculation question
How do you calculate cost basis when the property is a condo? From what I've been reading about depreciation, cost basis does not include the land. Is it just most of the time close to the purchase price? I paid $255,...
Herbert Lewis
Sold in 3 days all Cash!
I sold my first actual fix and flip in 3 days to a private acquisition company. I have sold many of my properties before, but they were rentals. This was the first house I purchased with the intent to sell. I bought t...
Lily Scherman
Do I need a CA Purchase and Sale Agreement
Hello - I think one big thing holding me back is not knowing if I need the official CA Purchase & Sale Agreement from the Realtor Association or can I use a template and have a California Attorney look it over? A...
Pedro Oliva
Does the rent count towards paying off the mortgage?
If I get a property under a land contract say for $100k and the monthly payment is $700, will the $700 payment pay down the $100k?
Mario Mormile
Why does this deal work/ not work?
Hello everybody, I am putting together my first deal- a century home duplex. They have recently dropped the price to 65k. I am making an offer of 50k. All of my numbers in the analysis are based off of this 50k purcha...
Eric Hathway
What is the process of buying a property through a private sale?
I am talking to the owner of a 5 unit building I am considering purchasing from him. It is not listed on the MLS. How would I submit an offer? Is there a standard format? Would there be a deposit and escrow? Should I...
Michael A.
Are FHA loan offers still competitive in this market?
I’ve been reading as much as I can on BP and one thing that is highly recommended is the use of an FHA loan to purchase a multi unit property to house hack. When I bought my first home I opted to use the VA loan since...
Kyle Hendrix
First Investment Property: $600/mo Cash Flow!!!
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Youngstown.
Purchase price: $67,500
Cash invested: $21,000
Sale price: $67,500
Purchased this Duplex for $67,500 using...
Min Kim
cap rate and cash on cash return
Hello,I currently have my primary home rented out due to moving. I think the home is doing great, but maybe it’s not? I ran the numbers on it just to see how it would’ve looked as if I was looking to purchase the home...
Robert Stearns
CAPEX vs. OPEX - Appliances
I recently purchased new appliances for one of my rental units. Can I include the purchase in my operating expenses all in one year, or do I have to expense them over 5 or 7 years? Thanks!