All Forum Posts by: Annchen Knodt

I've found that click2mail.com is a good economical option.  I've done 4x6 postcards for around $.50 each, including a custom front and back.  It's fairly easy to include custom fields (like owner name and property address).  For the cheapest option, you have to send the postcards right away (rather than scheduling the mailer).

Hi @Dylan Page, you've gotten some good design ideas here, and I'll add that for more info on the home buying process you should check out the new book from BP "First Time Home Buyer" by Scott and Mindy if you haven't already!  I haven't yet read it myself but have heard that it's got a ton of great information and should help you develop a good concept on what to expect in the process, including aspects like closing costs etc.

Congrats!  Wish I'd done that for the 10+ years I lived with Duke grad students.

Hi @Jain P. - you may find this blog post helpful: https://www.biggerpockets.com/...

@Jessie Xu that has always been my understanding, but now that you've gotten me thinking about this I'm not as sure.  In my case, every cash-out refinance we do goes straight into our business account and gets used to purchase more rentals, so there's little question of whether the interest is deductible and our CPA just puts the mortgage interest with the property it came from for simplicity.  But from the little reading I've done now (this BP blog post is especially helpful), it seems like if you use the proceeds from a cash-out refi on something other than investment properties, they are not actually deductible then.  

Your situation is more complicated than typical scenarios i've read about , so does seem like a question for a CPA (who has good knowledge of real estate - sounds like plenty of CPAs don't know how to handle this).  I'd think that your interest on A is still deductible, but probably not B (not sure about whether the fact that you're using delayed financing or that you may be essentially pulling out some of the money you'd put in from A will make a difference)

Also, looks like there's a similar conversation happening in this thread: https://www.biggerpockets.com/...

i think the interest from your cash-out on A is already deductible in the first place since it's a mortgage on your investment property (i.e. the fact that you used it to buy another property is irrelevant).  at least that's what our CPA has us do for our cash-out refi'd rental!  so then the same would apply separately to your cash-out refi on B.

@David A Slocum my understanding is different than Sean's, in that I'm pretty sure that the rehab costs MUST be on your closing statement to qualify for DF (if not, that would be fantastic!).  On several other threads including this one, Andrew Postell (a lender from Texas) has clarified how this rule would unfortunately require you to pre-pay your contractor for the work (as Mark says here) to get that money back via DF.

@David Schmiediche thanks!  Hopefully I can make the next one then :-)

congrats, sounds like a solid plan!