Mark Brown
Sale at a $50k loss at purchase price or in repairs? In a -$100k hole
Long story short I purchased a home in an overinflated environment for $500k. I got the 5% downpayment from a HELOC.The mortgage and hold cost is a lot for me (over $4k). I struggled with getting property manager sinc...
Sandra Conkle
Tax Reporting - Expenses on BRRRR project crossing calendar years
My husband and I closed on our first investment property at the end of October, 2020. We incurred expenses during the last two months of 2020 as we started the renovations on the property; however, we are just now st...
Brenda Lee
Tax Expense Deduction
We just recently purchased a rental property in Utah from out of state. Prior to renting out the home we will have to fly out there to prep the home for rent. Just wondering if we can count expenses incurred for fly...
Peter Schiff
Feedback on harsh mortgage terms
I have received a mortgage offer with the wording of covenants and default looking very harsh. Can you share you opinion on what you think about these? --------------
10. Borrower covenants and agrees with Lender tha...
Christine Snyder
Title insurance on a tax sale property
Anyone have experience with buying tax sale properties? Here in KC they require a 12 mth challenge period. Title companies won't write title insurance until challenge is over. So, if I can't get title insurance do I...
Dom Radcliffe
Can I deduct or take losses if I just bought a property?
Here's my situation;I acquired a property and I am making repairs to it to bring it up to a certain standard before I list it on STR websites. It seems like the repairs will take some time so I won't be able to list i...
Jason Mak
How much in turnover costs to you recover from security deposit?
Wanted to survey all the multifamily managers out there and ask them how much of the actual unit turnover costs do you deduct from the tenant security deposit?For example, typically if a tenant leaves the unit in good...
Shari B.
When am i bound to go through with a refinance?
I am shopping around for a cash out refi on a rental property and have a couple of very good prospects. Conventional loan, excellent credit and reserves, nothing owed on the property and the property is seasoned. One ...
Robert Steele
De Minimis Safe Harbor Election (expense rather than depreciate?)
Does anyone know what to make of these new IRS rules that came into effect for 2014? (but I believe are back dated to 2011)It sounds to me like we can start deducting a large number of those repairs we used to have to...
Ryan Smith
Bought a nightmare property- could use some help
Nightmare story,I've bought many homes before but this was by far the worst ever. I just bought a seller financed property in Dunn from a person that I previously trusted. I definitely should have done my due diligen...