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Need advice on whether to sell
Hi all,
I took the plunge about a year ago and bought my first condo 2BR/2BA. I figured I would buy it for below market value, do most of my own repairs, and then sell after 2 years so i don't have to pay capital gai...
Vinh Nguyen
How to tell + cash flow when property bought in cash?
Hello BP, The following is hypothetical for simplicity:I bought a single family home for $130k cash and spent extra $20k to fix. Hence, all in is $150k. Rent income is $1600/ month. Property tax is $1800/ yr and insu...
Mariah Jeffery
Short sale addendum
I made an offer on a short sale duplex in Oct. and have been getting sent lots of documents to sign since then. The last thing I heard from the listing agent was as follows:
"Indications are positive with the Lender ...
Matthew Orr
Income Tax Deductions and Property Managers
I'd like to know if anyone (especially any EA or CPA) might have experience here. I'm finding that property managers are good about sending invoices detailing expenses and revenue for the property. However, for serv...
Chris Rinker
Taxes
Do I pay taxes on the rent I receive as extra income if I occupy the duplex while renting out the other side to pay for my mortgage? I want to say yes as I am doing my own taxes and was not sure on what to do.
Dennis Xenos
7 unit deal
Thoughts on this Deal...
Sale Price - 350k
Downpayment of 150k
owner to hold financing for 4 years, to be paid @ anniversary of closing 50k per year
In this scenario i have a credit line @ 5.25%
expeses are about 4...
Ron Brady
Replaced sewer line and financing payment - what is the correct approach for taxes?
In July we replaced a broken sewer line for $8,500. We have 0% financing for 12 months. We have the cash to pay it now, but with 0% financing, we are in no rush to give up our cash. 1. Is this a capital expense to be...
Spencer Cuello
Home Warranties and Risk Mitigation
Hey BP community! I want to get opinions from seasoned RE investors about home warranties. I currently had a 1-year home warranty included in my purchase contract and it is set to expire. I haven't had to use it at al...
Mike Bales
Sell vs renting out my house
Hello,I live in Tacoma and I'm trying to decide if my wife and I should sell our home or rent it out. It's 3 bedroom, 2.5 baths and 2300 square feet. We have around $170k in equity. Selling would be nice to pay off...
Andrew A.
2017 Cleveland Duplex Expenses Exposed
I wanted to share my annual expenses because I had to do a lot of guesstimates before I bought my duplex. I swear when I asked some investors their expenses they acted like they had amnesia. Since I have over a yea...