Shea Spinelli
Deduct or Capitalize - Placed in Service Exception
Hey BP Members, quick question. We purchased 12 units in July 2017. In November 2017 we added an additional unit. Wouldn't we qualify for the exception @Brandon Hall discussed as Myth #5 in his article '7 Common Myth...
Jorge Abreu
The 5 Basic Phases of Value-Add Multifamily Real Estate Syndicati
The 5 Basic Phases of Value-Add Multifamily Real Estate Syndications
Do you remember the 5 paragraph essay structure from elementary school? Having guidelines to introduce a central idea, provide 3 supportive paragr...
Janet Lancaster
Did property manager do the wrong thing?
Hello AllIn March, a rental property I own in AL that is professionally managed by a sister company of the turnkey company I bought it from in 2015 had a fire. It will likely be a total loss. Property management compa...
Eric Williams
Disregarded Entity Qualification: Married Couple in Community Property State
Rev. Proc. 2002-69I found this guidance and thought I would provide a summary:It was issued to remove uncertainty surrounding treatment of an entity owned solely by a husband and wife in a community property state.Ess...
Mark Ross
First Rental Property Purchase
I purchased my first rental property this year (condo) due to market conditions I had to close quickly with an all cash offer. I fixed the property up for long term rentals which has been rented out. Would It be bette...
Marty Calhoun
Contractor added 5k to final bill?
I have been working with this contractor for over 5 months on our rehab. We have spent over 100k on this rehab and made some changes through the process but we always discussed the cost of any changes. I don't have ...
Andrew Korver
Insurance questions from a newbie house hacker
Hello all,Newbie question here. I am due to close on my first deal within the next 40 days. As such, I have contacted my insurance agent to obtain quotes for my existing home (which will be converted into an SFR) an...
Scott Taylor
How would you handle this dispute with a rehabber?
I had a rehab project to fix up a unit. Rehab project was supposed to cost $50k.
The unit involved was a small studio; under it, a garage. This was renting for around $700 (garage for an additional $100).
The u...
Erik Browning
Cash Out Refi's are now cheaper than HELOCs
HELOCs are no longer a favored option for this market.Before I give an example, it's a good idea to explain how HELOCs are calculated - because there are a lot of people on BP that do not know.HELOCs are adjustable, w...
Brynn R.
Converting Roth 401k to Self Directed for REI
I am potentially interested in converting an existing Roth 401K to a self-directed account that allows for real estate investing. What is the cost/ benefit in your experience with making this sort of move? Currently t...