All Forum Posts by: Max Ripley

@Jackson Babcock thank you! That’s really good advice!

@Aaron Zimmerman I think that’s a good idea too. I have had super simple taxes until now. Just a W-2 job is all I had. Now I will have not only a house but rental income along with it. Thank you!

@Brad Hammond thank you! That’s a good idea. I appreciate it.

I am about to close on my very first home, and will be using the house hacking strategy to boost my cash flow, and eventually buy an investment property.

My question is when should I hire a tax professional as opposed to using Turbo tax by myself?

Thank you! That is kind of what I was thinking also, but wanted to get some more opinions. I appreciate it!

Hello! I am getting ready to buy my first house. There is one that I am very interested in and is a no-brainer for a fix and flip. It is a hoarder house that needs mostly cosmetics, and is priced very low relative to the area. However, I do not have tons of liquid funds to invest in the property after I buy it.

I have a friend/co-worker who would like to front the cash to renovate the house and help me physically renovate it (we are both good with tools). He mentioned getting a portion of the profit when selling the house. My question is, what is a good realistic deal format for both of us. Both of us would be doing equal amounts of physical work. I would pay the monthly mortgage payments to a bank. He would front the renovation costs. 

I have always wanted to get into RE investing, but am looking for some good guidance for a good deal format to get me started. Thank you in advance!