All Forum Posts by: Kiersten Vogt

I try for $200 a door right now and we're investing (still total newbies) in small multifamily properties. 

Networking is everything!! 

Thank you @Alina Trigub that makes a lot of sense! Our offer was accepted and we need partners to close the deal and I didn't know how to approach the situation so thank you for the insight.

This is a great discussion for me right now. We put an offer in on a duplex yesterday and I'm fairly certain it will be accepted. However, we weren't expecting this deal to come up so fast and we are in the middle of getting a HELOC on the duplex we are currently brrrr-ing so we don't have the cash needed and the current owner turned down owner financing.

I don't know how to go about "offering" this deal to private money people without breaking laws or SEC regulations! It really is a solid deal and I have the biggerpockets PDF from the BRRRR calculator as well as a cover letter explaining the property and the plans for it.

@Luke Miller What describes an active investor vs passive?

Okay this is great information as I wasn't sure if I absolutely needed to find someone local or not! 

Hello,

We are in need of a long term back and forth relationship with a CPA. My husband and I are both self employed and I'm not sure how to go about finding a good cpa who knows real estate tax law in Pennsylvania. 

Our main source of income right now is my husband's remodeling business. He is a contractor and does home remodels for clients like kitchens, bathrooms, basements, windows and doors and decks. I do the quickbooks (which I'm not so good at,) email response, social media marketing, etc.

We currently use subcontractors for the remodeling business but want to look into hiring employees and the implications of doing so tax wise because we may be bordering on the gray line of where subcontractors end and employees begin.

Our goal for 2019-2021 is to slowly progress into flipping homes full time and using that capital to purchase more multifamily properties and hopefully eventually getting away from homeowner projects altogether. Together, my husband and I have flipped one house, are currently completing our second flip, and purchased a mutlifamily in 2016 to implement the BRRRR strategy on (buy, rent, rehab, refinance, repeat.)

We currently live and are renovating a 2 unit multifamily where we occupy the 3 bedroom 1 bathroom home (to be a 4 bedroom 2 bathroom) and we rent out the 1 bedroom 1 bathroom apartment above our garage.

We also purchased a house to flip with my mother as a 50/50 partner on 12/17/18 and we plan to list the house by 2/28/19. I have no idea what to do with this as far as taxes are concerned.

Lastly, I have a social media business where I provide marketing services to businesses (like my husband's remodeling business) as well as operate a blog with a small profit under this business.

We're looking for a CPA to whom we can turn to with questions about how to grow as a business and save as much in taxes as we can legally with proactive thinking. 

I'm a perfectionist and I don't think these cabinets look too bad! I agree with @Natalie Schanne and why not try some tours and get some feedback. 

Another option to save more on the paint job is to only paint the lower cabinets, maybe in this instance a navy blue or black... people are loving two toned cabinets!

Thanks @Chad Eisenhart. Thanks for all the information. I guess I'd have to get the property for even less because I also have rehab costs. And that makes sense to just pay the mortgage company directly duh. 

@Bryce Litwin I couldn't believe it either... but I did just double check and the difference in taxes is definitely correct! 

@Patrick Liska I took the number directly from the numbers provided by the seller and thought some of them were a little off. I would definitely try and negotiate some of those expenses like you said. Thanks for the information on the seller financing.