Tax deduction for hard money lender thst hold first position
Investment Info:
Single-family residence hard money loan investment in St. Louis.
Purchase price: $30,000
Cash invested: $200,000
Sale price: $325,000
I'm the hard money lender on this deal...Also on property deed in first position...what deductions can i use as write offs? Where do I start?
What made you interested in investing in this type of deal?
Return on investment
How did you find this deal and how did you negotiate it?
Feel into it...contractor ran out of funds and turned to me...
How did you finance this deal?
Cash & Heloc loan
How did you add value to the deal?
Appraisel
What was the outcome?
Soldo
Lessons learned? Challenges?
Contractors are liars and f n slow!!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No