Peter Schuyler
Paying down Mortgage and the IRS view
I think I know the answer to this, but if I want to reduce my passive income, is paying down the mortgage via extra principal payments reduce my passive taxable income or is it viewed basically as profit? (this is in...
Kim Handelman
How do I calc rehab in a deal if long term tenants are in place?
Hi All,I have a lead on a deal. 3 family Gross rent $3325 Taxes $7,000. Building is old (built 1900) but mechanicals are fairly new (last 4 years) roof is 15 years old. units are horribly dated and will need rehab whe...
Derrick Wilson
Convert basement into a studio. Need some advice
Hello BP NationI live in Yonkers NY I want to convert or finish my basement into a studio apt. There's two Windows and a separate private entrance. I would need to add a bathroom with stand up shower and a little rang...
Account Closed
You have $250K, but not net worth... commercial or 2-4 MF?
I would prefer to start out with 5 +plus unit's, but my net worth is basically just that $250K...any suggestions? ...or will I need to begin in the 2 to 4 sector? If commercial, I plan on to include a notable manageme...
Garrett M.
First Deal! How does this deal look to smart people?
Hello out there in BPland! I would be grateful for any thoughts on this potential deal. It is my first and I'm nervous because it looks pretty good to me, so I must be screwing something up! I have a deal in contract ...
Jason Huggins
Personal Finances
Good Evening Bigger Pockets, My wife, and I have twice saved the capitol it will take to purchase our first property. However, as soon as we manage to save it, an "emergency" would deplete our resources. This has ...
Rizwan Alam
What kind of financing offers are available for 1M+ Multi Family Apartment buildings?
When I was 18 (Now 22) I found the site Loopnet, and living in California I was shocked at the kind of deals that are available around the country. I never before imagined that something like this would even be pos...
Justyn Hope
Looking for my first investment property, but having trouble picking a neighborhood
Hello Everyone -I am looking to purchase my first investment property. I've decided to purchase a single family home in Birmingham, AL. I have found a realtor, property manager, and financing. The problem I'm having i...
Damian Baynes
Solo 401k thoughts/ questions on strategy.
Greetings everyone!I’ll keep this one brief. Here is my situation. I started a small business which will not be my primary source of income anytime soon, however, I do have some funds from an old 401k that I would lik...
Joseph Smith
3 year goal of investment self sufficiency.
As a 23 year old who is 100% brand new to the REI game I find myself curious as to what the general consensus would be considering my current starter plan. As the subject of this post suggests, my goal is to be finaci...