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All Forum Posts by: Brian King

Brian King has started 10 posts and replied 13 times.

Buying & Selling Real Estate

Post: First time home buyer needs help!

Brian KingPosted
  • Real Estate Investor
  • Charleston, WV
  • Posts 13
  • Votes 3

I mean claiming it as part of the purchase price for the first time home buyers credit.

0 Votes
Buying & Selling Real Estate

Post: First time home buyer needs help!

Brian KingPosted
  • Real Estate Investor
  • Charleston, WV
  • Posts 13
  • Votes 3

Ok, I purchased a home earlier this year. I got an fha loan and I borrowed 10,000 extra dollars for repairs. On my taxes can I claim the extra 10,000 dollars or just the purchase price of the home? If I claim the extra 10,000 I will get another 1,000 credit on my taxes, but would it be legal?

0 Votes
Starting Out

Post: What would you do with the money??

Brian KingPosted
  • Real Estate Investor
  • Charleston, WV
  • Posts 13
  • Votes 3

I am a 22 year old from West Virginia. I just purchased my first house last year to live in, and I am getting back the tax credit for purchasing the house. I will have about 15,000 to invest, should I start out flipping properties or buy a rental? Real estate is not extremely expensive in WV like it is in other states. I could buy a nice small house for 40,000, pay 15,000 down and rent it for around $500 a month. What would you do?

0 Votes