All Forum Posts by: Brandon Purdeu

Looking for a recommendation on a carpet company or independent installer in Sanford, NC or somewhere in Lee County, North Carolina. Could also use a recommendation for shower glass. All going into a flip.

I'm very excited for the next meet up! Had to take a break from preparing mailers to peruse BP. Can't wait my favorite night of the month by far!!!

I used taxslayer

I looked into the 1040X and it allow me to add the income but nothing about the depreciation. 

Good evening BP,

Looking for some recommendations. After reviewing some documents I realized I did not report a rental property on last years tax return and did not depreciate 2 rental properties. What is the most efficient way to go back and correct the returns. This was a property managed by myself so no 1099 was created by a property manager. I appreciate any help. 

We'll be out on the patio! Can't wait to see everyone!

Looking for some tips an evaluating ARV. I seem to be coming in really low but I'm using the formulas and following the advice here. The home in question is a large house in Pinehurst NC. It is in an estate and owned free and clear. They are asking 270k it's 4 bedroom, 4 bathroom 2700 sq ft with 500 unfinished sq ft in the attic that can be converted with HVAC and finishing. House needs a interior remodel of about 80-90k. Realtor pulled comps and I have 2 good comps one not finished nicely sold for 302k and one finished nicely for 380k but about 3400 sq ft. So I set ARV at 350k. I'm being told to use price per sq ft which is about $135 in the town which puts ARV at 425k ish. Which do the experience investors put more stock into price per sq ft or local comps? I offered the seller 185k cash for the home and they basically told me to come back with a serious offer. Any tips?

@Joseph Druther I think you undersold it... It is pretty much the coolest event of my month! Can't wait! 

Hey Ray you're in a hot market up there in Charlotte! Go to your local REIA start meeting folks and move to the investment strategy that appeals to you the most and fits your goals.

my favorite night of the month!