All Forum Posts by: Kyle Sewczak

Hey guys! I have a ticket to BPCON 2023, I had something come up and I don't think i'm going to make it. I paid $1300 in total, including a limited seat masterclass with Pace Morby. If anyone is interested in going, I am looking to sell it for half the original price! $650 and it's yours!

Hi Kayla, I'm just north of Denver in the Longmont area! I appreciate your feedback, that helped a lot! Thanks!

On an episode of the BiggerPockets podcast a while back I recall someone saying, "if you have a good deal, there will always be a way to finance it" (or something along those lines).

I was looking around at large multifamily properties currently for sale, But also trying to find the same type of properties off market. My question is, how do people partner with investors to come up with a down payment? I have confidence that I could negotiate and get a really good deal on a property, but with prices in Denver there's no way that I would be able to come up with a 20-25% down payment. Assuming all the numbers work, it appraises for more than what I'm paying, and it cashflows well, what would be the next step? What would a creative investor do if they had a great deal, but no way to come up with a down payment alone? How would you find a partner, and how would investor partners normally split ownership? Would they go 50/50? Is there a general rule of thumb on how to divide it? I'm sure there's plenty of options, and I would love to hear any feedback/thoughts!

Thanks!

I am just finishing up my first fix and flip- it's a condo in Aurora, Co. I'm looking for a bit of insight from somebody with a little knowledge on how taxes work for a  situation like this! I will try to keep it easy to follow. 

Buy: $185k

Rehab: $26k

Sell price: $250k

gross profit: $34k

i'm getting mixed information on how my profits would be taxed. The property is under my name, but I have a business that i'm expensing the rehab to. Since I am doing most of the work myself, would it be beneficial to charge my business for labor, and write myself a check for something around 15k, reducing my shown profit from 34 to 19k? Would my personal income be taxed differently than the business income? I understand there is a 15% self employment tax, but I'm not sure if I would fall into that category or not. Would love to hear some feedback or have a conversation with somebody!

p.s. - I would like to focus more on buy and hold properties by using the BRRR method, however the numbers on this one just didn't work out for that. I'm 19 and just recently quit working in construction to pursue real estate, and decided it would be better to build up some more capital to look for a little bigger and better deal, especially since I no longer have an income to borrow against.