Walter Thompson
70% rule?
hi BP
I've been trying to wholesale homes in the state of NJ (not as easy it looks but I knew that, nothing is easy when it comes to make a life for yourself.) I was wondering do you guys use the 70% rule for...
Amit G.
Need help figuring out Expenses for MFU
Good morning BP'ersI was trying to analyze a 4 unit multi family property off the MLS listed at $199000 with only 4 category of expenses provided by seller - insurance, water/sewer/trash, electric and taxes. I do ha...
Fuchi Obioha
Security Deposit Question - NYC
My tenant gave 4 days notice that they would not be renewing theie lease (lease ended May 31, she confirmed non-renewal May 26th, and vacated the unit June 9th). Upon her departure, I realized that she had violated th...
Cristian Correa
Property already with a tenant
Hi, So I am currently purchasing my first duplex, hooray! The rental property I am looking at has two units, one is occupied and the 2nd has a tenant, I want to live in one of the two units, however the income from t...
Joshua Durrin
Applying Rules of Thumb to Inflated Markets
Hi there, I'm looking to do some wholesaling in the east bay. However, when one considers the discount on the property after applying the 70% ARV rule of thumb, that's a pretty sizable chunk of money in this inflated...
AJ Smith
Fridley (Minneapolis) MN HouseHack Analysis
Property Address
7385 University Ave NE, Fridley
MLS#
5500697
Number of Units (Duplex, Triplex, 4plex)
2
Crime Rating (Low/Medium/High)
Low
Proper...
Arthur Schwartz
are there any rules on traveling to an owned out of state rental?
I have several rental homes located out of state. Are there any rules on how often you can travel there, and deduct the travel cost? Can I travel once a year? Twice? Three times? Are there any travel expenses which ...
Joas Espinoza
1% Rule, Am I missing something?
So I know that the 1% rule states that your property’s monthly income should be approx 1 percent of the purchase price. However, let’s say I purchase a single family home worth 600k. Wouldn’t it be a little absurd to ...
Michael Medaglia
Seeking Private Letter Ruling from IRS
Hi everyone,I found PLR 200745011 which similarly represents my family's situation with some key differences. I want to request a private letter ruling from the IRS on my particular situation but need the ruling reaso...
Jonathan C.
Anti Flipping Rule Back- How Are You Adjusting?
How, if at all, are you changing your strategy next year given the FHA anti flipping restriction is coming back next year? Sigh