All Forum Posts by: Rao V.

Hi,

I am considering a property and its 4 unit apartment. I want to convert 1 apartment as a commercial office. Has anyone done that?

If so what are the steps you took from start to finish. Give me general guidelines regardless of county/city rules.

Thanks

yes I have all the receipts.

I have a question on tax regarding a long term rental that I recently sold.

Here is the situation:

• Bought a house in 2010 for lets say 100K.
• Spent 50k in 2011 on repairs and to make the house rentable.
• After repair the house was a rental.
• Now I just sold the house in 2022 for lets say 300K.

Now I am doing the taxes for this house and the way I am calculating the taxes is 300k - 150k = 150 taxable. 

Question : Is that ok to include the expenses that I incurred in 2011 while having this house as a rental?

Note : I never reported the 50k that I had spent on the house repairs.

I know I made a mistake by not reporting the expenses incurred in 2011.
Back then I had no clue that you have to report expenses in the same year.

I thought I will deduct these expenses whenever I will sell the house.

Question: How can I include the expenses of this rental that I have spent in 2011.

Next time can you also ping me your deal

State's Secretary of State page have only the buyer's LLC info. They deal with some great wholesalers in Seattle that I don't know. That' why I asked on BP.

Hi,

Recently a house was flipped in my area by an investor. I could have bought it if I had contacts with the wholesaler. So looked at the county record but all it has the name of the LLC that bought the house. Obviously the house was assigned a contract to the LLC owner. My question is how do I find out the wholesaler of that house.

Thanks

Hi,

This question is for wholesalers who gets their deals from MLS. How do I put an offer to a property on MLS to get under contract. How is it different then a normal offer. Can someone point me to the correct resource. I am thinking of making an offer from my LLC and put some earnest money. and then when an offer is accepted what do I do? I assign the offer??

Please help.

Thanks

Hi Wholesale Gurus,

I got a lead on a property through a friend where home owner is 60 days behind in mortgate payment. The property is worth about 250k but it needs some work. I am awaiting the estimates on the repair.

Here are the details:

-- Propery Worth about 250k

-- Loan = 190k

-- Hoa dues - 4k

-- Amount needed to bring the property current = 4k

So what should be maximum offer assuming repair is less than 10k. Also who should I hire to help me in this transaction. A real estate layer or a foreclosure attorney or what. Any recommendation Seattle/Tacoma area would be appreciated.

Thanks

Hi,

Is there a way to find a map that shows the before and after map of an area to monitor the parcel subdivision. The purpose is I want to monitor an area for sub dividing the lots.

Thanks

Hi,

Is there a excel sheet with typical labor hours for different home repair stuff e.g If I want to know, how much labor hours will it take for changing a toilet I usually go here

https://www.homewyse.com/services/cost_to_install_...