All Forum Posts by: Nattapon Permchom

@Adam Martin yeah, sound crazy but true. Out of my 6 properties. One year I replaced 2 bad fridges back to back then the next year 3 hot water heaters in a row. One year 2 Hvac in the same year.

Looking to buy an investment property in South Carolina, score is between 600-620. need help located a broker that can help with situation. I have w-2, down payment, just lack the score to quality regular loan.

It sounds like you are selling other kind of business to invest in real estate, if that the case then 1031 won't work for you.

I found the formula is accurate around ARV80-200k, below and higher than that it became irrelevant. If you can have good repair estimate, I would calculate by real $$. Like others said 70% rule is just a guideline which help you weed out unrealistic deals quickly, if you look at so many deals per day this help you save time on deal analysis and let you do other stuffs.

Talk to your CPA about it, there are conversations about this topic on this forum. S Corp have potential to reduce your FICA tax burden, you might save more vs LLC depend on how much your flipping profit will be and worth paperwork hassle.

It's eppraisal.com

Don't count chicken until it hatched, in this case I always continue advertising until I get lease signed, rent and security deposit money in my account, doing move in check list, and give them the key, then I can take my sign and deactivate all the ads. I recently had one prospect walked out too, he paid the screening and pass but decided not to move forward, but because my advertising is still active I have 3 more applications line up. I guess you better get used to this or let pm do it, otherwise this real estate might not be your thing. There're a lot of ways to make money out there, you don't have to do this if you're not happy doing it.

I don't see why it won't work, people pay 12% for hard money loans all the time and they can make money. The real question is can you get a good flipping candidate at that price point, in my area, you can get a rental at $40k total but not for a flipping.

Charles Marshall I think the 10% he referred to is for marketing costs and holding costs

When it come to short term capital gain, there is no standard , it will depend on your income level as it be treated as ordinary income. So you will pay whatever percentage you pay right now, worse case that 20k will bump you up to the next bracket.