Tracy Munger
Need some advice on a potential multifamily property
We put an offer in on a 4 plex that is currently being used as a by the week rental (mostly). The numbers the owners gave us for current rent prices and utilities is based off of that model. The price of the property ...
Zocky Zhang
Sold my house profit tax reporting
Me and my wife bought a house in Philadelphia in 2016 when we were renting a condo in Maryland. We managed to sell the house in 2019, then immediately used part of the proceed as down payment for our new house in Ma...
Pedro Bartolomei
Separate llc for each investment property?
Hello BP. Is it a good practice to place each investment property under a separate llc? I think its a good idea for fix and flips but i dont know how its useful in buy and holds . Any advice is greatly appreciated
Zoe Long
Have not claimed depreciation for 6 years- how do I start?
How can I go from not claiming allowable depreciation on a rental
property to claiming allowable depreciation without creating an
unauthorized change to my accounting method.
I have owned the property since 2003.
I...
Gordon Olson
Section 8 Housing Requirements in Minneapolis
Before I choose any duplex properties in Minneapolis it looks like the recent reversal requiring (I'm putting it delicately) landlords to house Section 8 tenants was reversed.I'm not keen on the idea of being forced t...
Jamon Cline
Rented to a friend...verbal contract, trying to evict
I apologize if this isn't the proper place to post this but I don't really know where else to turn.
My friend and I decided to invest in a house. I bought the house and he rents out the basement. The original verbal ...
Nicholas Bronte
Bath remodel options
Hi BP,I have a duplex that I plan on using as a long-term rental. There is a single bathroom in each unit. In each bathroom there is what appears to be an older clawfoot tub that has been "built-in" with painted ply...
Zak Blechman
Which FACTS are Most Important when investing in Multifamily
I’m taking the advice of those around me and starting with a Multifamily 4 unit in CT. Hey BP COMMUNITY,I want to begin my journey in CT because I know the area and I can use this investment to help my nearby family w...
Cindy Veit
BRRR method - put property in LLC or personal name?
It has been 10+ years since I have bought a rental property. We currently have 7 loans in our personal name. I was looking for a bank to do a cash-out refinance in our LLC. One banker asked, "why don't you put it in y...
Account Closed
Banks taking REOs back off the market???
http://www.msnbc.msn.com/id/39467220/ns/business-real_estate/
anyone hear about this?? i hadn't until today. i put an offer on a REO and the agent took it off the market shortly after. when i asked why, this articl...