All Forum Posts by: Joel DeLuca

grant ih how? 

Interesting. That is kind of what I was thinking...that it would be iffy going conventional. I'm thinking that it would be better starting with Hard Money then once it is rent stabilized convert to Conforming.

@Mark Ferguson

@David Krulac You guys make great points. I think I have one that fits into the peeling paint, missing appliances, and ruined flooring. The HVAC is intact and no big issues on the PCR. I will be doing a thorough exam in the morning.

Thanks, that is good to know. It did pass the pressure check.

I am considering a HUD that is FHA financing UI (Uninsured). Would the offer have to be cash or hard money? Are there Lenders willing to loan conventional financing on distressed property? The house needs paint and flooring, has some holes in the sheetrock, and is missing appliances (stove and dishwasher).

My long term goal is to own it as a rental.

Is there tax benefit from depreciation when holding RE inside a SD-IRA? I understand that there is not since funds in an IRA are already tax advantaged.

This is a significant part of the profit equation, so I am asking to clarify.

I really wish I could make it. I just can't find a way to get clear at that time.

I noticed the other day that a book that has received several mentions lately here on BP is available for free on the Itunes Store. I started reading it a couple of days ago, and wanted to pass along this to anyone interested.

What are the requirements for the "business". Does it have to make money? Can you just register a DBA and then "have a business"?

Welcome John from another neighbor. I too am new to BP but I really glad that I found it.