Ronald Lee
Legal concerns with buying rentals using HELOC on primary res?
Newbie investor here. I was talking to my CPA on possibly taking a line of credit on my primary residence to fund my rental property purchases, which I’m planning to do through a LLC. She said with HELOC, technically ...
Jered Sturm
When to sell primary residence and only pay long term cap gain ?
I have a primary residence I purchased August 4th 2015. I moved into the home August 4th and began doing a major renovation. I am just now finishing the renovation and plan to sell the home with an expected sizable ga...
Cassidy Burns
Buying Under Value . Appraisals are including your purchase
Hi BP,I've recently run into a problem with 2 of my last purchases in SW Virginia. I am buying under value properties. For instance: Purchase Price: $61,500Assessed Value: $116,800But the appraisers are adding the p...
Joe Ebanks
Looking for help getting delayed financing
Im looking for a lender who can help me do a delayed financing on a house I purchased here in Kent. Thank you.Apologize in advance if I am breaking forum rules, I am unsure.. But have had problems finding someone to h...
Chad Rumsey
Rehab and sell mobiles homes w/o land
hello all - I have an opportunity to purchase multiple mobile homes in bulk. All are late ‘70s models, single-wide, 60’ long. Is there a market out there if I purchased, rehabbed and then sold without ground? I don’t ...
Avi Adler
Realtor purchased Fannie, Freddie, HUD REOs?
Hi- New BP member here and first forum post. I recently secured my Maryland Real Estate Salesperson license. In addition to representing buyers and sellers I am very very interested in building a portfolio of re...
Gary Dayton
Let's see if I have the hang of these two deals.
I am working on the following deals with a buy and hold exit strat of 1-2 years:
Deal One:
REO (On Market Dec 07-offer fell through-Back on Market 12 Jan 08)
2 Bed 1 bath w/ garage
.17 Acres
Listed $189,900
Comps /F...
Michael Callahan
Capital Gains Tax on Property Sold by an LLC
I am under contract to purchase a condo in NH in my name to be used as a STR. We are paying cash. I plan to transfer the property into a multi member LLC (myself and family owned) shortly after closing. My question is...
Daniel Jodrey
HUD Homes- Pros and Cons
Hello BP World!I have been with BP for a few weeks and have learned an incredible amount. Knowing very minimally of what I am talking about, I cant help but be drawn to a HUD home as a first investment. Ultimately, I ...
Chris Ruud
50% rule seems high?
I've been reading about the 50% rule (a quick way to estimate expenses being 50% of gross rental income) and have tried to apply it to properties for sale and it always comes out consistently too high. The numbers I'...