All Forum Posts by: Matt Good

 There you go. I've used that line several times.

Under item E for effective date of S election I'm instructed to begin my first tax year, with no prior tax year on January 7.

Under column N I'm asked to enter the month and year that each shareholder's tax year ends... What do I enter?

I JUST applied for my LLC and I'm the only shareholder at 100% with no earnings to report, yet. My CPA advised me to just complete all docs myself given my situation was simple. This is the only part that I'm hung up on.

Help!

I'm looking at occupying a outdated 1974 ranch with 2,436 sf and 3br/2.1ba layout with potential to convert the upper level (not a split level ranch) into a master and POSSIBLY adding a 5th br. I'm supposed to look at it today to actually see the layout. They're asking $200,000 and I plan to use FHA (FHA loanable btw) with a combo since I don't have any money down. My plan is to live there for at least 2 years while building sweat equity myself with no contractors. I also get a 10% discount at HD/Lowes.

My RE Agent supplied me with 11 COMPS but out of the 11 I only found 2 to be +/- 500sf, 10 years of construction and 1 br/ba

Of the two relative COMPS the sold price mean was $294,900 (I know that I need to pull more COMPS but it's a start) I'd be happy with $250,000 ARV

My question is does this property have good sweat equity potential? Is this a good longterm flip? Please let me know if more information is needed! Thanks!

@Mike H. Yes! Everybody wants a piece! Haha

@Mike H. I'm a Veteran! ;-)

I'm looking at occupying a outdated 1974 ranch with 2,436 sf and 3br/2.1ba layout with potential to convert the upper level (not a split level ranch) into a master and POSSIBLY adding a 5th br. I'm supposed to look at it today to actually see the layout. They're asking $200,000 and I plan to use FHA (FHA loanable btw) with a combo since I don't have any money down. My plan is to live there for at least 2 years while building sweat equity myself with no contractors. I also get a 10% discount at HD/Lowes.

My RE Agent supplied me with 11 COMPS but out of the 11 I only found 2 to be +/- 500sf, 10 years of construction and 1 br/ba

Of the two relative COMPS the sold price mean was $294,900 (I know that I need to pull more COMPS but it's a start) I'd be happy with $250,000 ARV

My question is does this property have good sweat equity potential? Is this a good longterm flip? Please let me know if more information is needed! Thanks!

I'm looking at occupying a outdated 1974 ranch with 2,436 sf and 3br/2.1ba layout with potential to convert the upper level (not a split level ranch) into a master and POSSIBLY adding a 5th br. I'm supposed to look at it today to actually see the layout. They're asking $200,000 and I plan to use FHA (FHA loanable btw) with a combo since I don't have any money down. My plan is to live there for at least 2 years while building sweat equity myself with no contractors. I also get a 10% discount at HD/Lowes.

My RE Agent supplied me with 11 COMPS but out of the 11 I only found 2 to be +/- 500sf, 10 years of construction and 1 br/ba

Of the two relative COMPS the sold price mean was $294,900 (I know that I need to pull more COMPS but it's a start) I'd be happy with $250,000 ARV

My question is does this property have good sweat equity potential? Is this a good longterm flip? Please let me know if more information is needed! Thanks!

Has anybody taken advantage of their new (or at least new to me) $0 down no PMI Conventional Loan? I'd LOVE to hear real life scenarios.

I'm looking for a investor savvy CPA and good RE Attorney to add to my team. The closer to home the better. Thanks!

 I didn't know that! Good news!!