All Forum Posts by: Pandu Chimata

Folks, 

Greetings..

I am in an escrow as a seller and expected to close by 5/31. I see another property on sale and I want to bid for that. All my cash reserves will be released at the end of escrow.  How do I show (formally) my cash reserves indicating that they will be available at the end of escrow, and still demonstrate that I am strong buyer. 

Please advise.

Dear contractors, 

I am in the process of bidding a flip property and I have a chance to own the property. I want to explore the opportunity to add additional square footage in the form of a room and/or bathroom, if possible.

What are some thumb rules or guidelines to identify the feasibility of a adding a room and even a bathroom.. please advise. 

Team, I live in Glendora and looking for a contractor to flip an house. I am looking for some one who has previously worked on some flips. Please shoot me a message if you are interested.. 

Thank you @Dylan Vargas for the heads up. I will keep this in mind if I get into this situation. 

@Jinhee Park,  Are you basing off your value based on 1% rule? Do you see a potential scope for rent increase in the next few years? or there any scope for force appreciation?

Thank you folks - @Ashish Acharya , @Basit Siddiqi. 

We are not expecting a significant profit since we spent way more than what we estimated initially and also the property sat idle for almost two years with no income. We also did not claim any depreciation in the last two returns.

My Partner and I purchased the property in 2016. After renovating it we rented the property for one year. Now it is in escrow and expected to close in May. 

We made some profit in this transaction. Would I be declaring all expenses during the escrow time and then paying the taxes at that time or during the year end tax time?

Thank you folks.

Thank you all. Makes lot of sense. There is some upfront work required to see the possibilities. 

Good point on making the deal work.. At this time, the deal does not add value unless it can be sub divided.

I saw a two individual houses on a single huge lot  in LA County. They both have their own house numbers. Currently it is being sold as a one single lot. 

Two questions:

Can we sub divide the property into two houses ? 

Does this exercise makes sense, if I want to sell the property individually? May be it depends how the properties are located from the privacy and convenience aspect for two different owners?

Please advise.