All Forum Posts by: Brandon Pierce

Another Abilenian here, welcome to the BP community!

I'm not that experienced yet but I do have a rental that I lived in and fixed up while there and its working VERY well on the northside, and am currently renovating (completely) a house I bought on the southside. The deals are here when you are ready! This town NEEDS ppl to put some care into the properties they buy and not be like a lot of the investors here who put lipstick on a pig and then stick a rent sign out! You are in the right spot on here at BP as they can help you with ANY questions you have. Good luck and let me know if I can be of any assistance :-) My plate is pretty full right now but if there is a meetup arranged around here, let me know and I will try to attend.

That LP looks really good and at just over $1 a foot, it can really transform some of these older, lower budget homes in Abilene. THANK YOU for not trying to be ANOTHER slum Lord here in town where you just are putting lipstick on a pig! If you take some pride in the property, chances are you are gonna get better renters that want to take care of it too so as long as you get them out as best as you can.

Welcome Riley! I'm a native here as well. Sounds like we have a lot in common as I'm an orthotic and prosthetic tech here and the investment/real estate thing is my side job currently until I get enough under my belt to do it full time! It can be overwhelming with all there is to learn here on BP but everyone is always willing to lend an ear and help you wade through any issues that may come up. I'm semi new to this as I only have one rental currently and am working on my first flip ATM but if I can be of any assistance....don't hesitate to reach out! Good luck

For a good hometown bank I recommend talking to Anna at Western Bank here in town. They have been real easy to work with as long as the numbers make sense. I'm running my first loan on a property through them and it's been very smooth!

So my 2017 expenses/taxes paid (if I plan on keeping as a rental) ARE able to be deducted in say 2018-19 and get someone in it OR do they only get to be utilized if I include them in the basis of a flip? Basically, do I ignore those expenses on my personal tax stuff for this CURRENT year either way I decide to take the house? 

I purchased a home from the city for 3k last year (nooby mistake as it was the only house on the list I didn't go look at personally) but I figured the land was worth that! house was condemned and needs a complete overhaul. I'm almost done with the tear out and some of the reconstruction has been started but my question is since it was a cash purchase and liens and taxes have been paid along with expenses such as trash containment, permits, ect... can I deduct that from my taxes. ( I currently have my primary house, 1 rental, and now this property. It was not rented at all and I'm considering flipping it once finished but that is not set in stone as it will be a completely renovated house for less than 40k so the prospect of having a completely redone rental that I can get paid off in 2.5 years is enticing) I currently use turbo tax premium since I'm limited on properties but was curious as to where/how (if possible) do I classify it in order to take advantage of any deductions I can claim on it? Thanks in advance for any responses!!!

Do do you have a posting actually at the college? I believe you can post one in the bean area which if you're not familiar is there food court..

I haven't had any issues with my property by Hardin Simmons but there are A LOT of vacancies currently...may consider adjusting pricing some to stay competitive

Kale,

I am new to whole investor/ buy and hold thing (as I only have one property currently and just purchased a ROUGH condition home from the city here  in Abilene) so if the price is right...I may be interested in at least one of the homes you may have available! If interested then let me know. Again, I'm not going to sugar coat the fact that my budget is small but my wife and I are dependable. (Dang near perfect credit, never late on any payments, married 10 years prior to having our first baby ect) I was born and raised here and would like to build a portfolio here as well so like I said, if you can give me a round about what you consider a fair deal for both of us...I'm all ears! Thanks and good luck either way!

i know alot off people use Gerard realty here in town. That being said, i do not know their personal satifaction with hos company but havent heard anything really negative about them either! Hope that help. I currently manage my own here in town.