All Forum Posts by: Stephanie DeLeo

You might want to talk to a CPA about using a trust to transfer ownership. I don’t know if the basis step up rule would be triggered since your father is still alive but using a trust would save you in taxes (I think!) if this situation qualifies…best left to the CPA experts!

Lol no I haven’t run a Cap Ex budget. Good idea…! Will review again. Thank you for responding!

Thank you for your reply! I’ll take a look and re-analyze. I appreciate your time!

Hi - I've searched and can't find a good explanation of the BRRRR analysis report. I did this report. Can someone point out the major parts of this report that I need to look at and what they mean and do you think this is a good deal? If I understood the report I could determine the deal.....we are thinking that once we refinance and add the mortgage in, we would end up with a negative monthly cash flow. Is that what you see when you look at this report? My opportunity to buy is dwindling, quick help appreciated!! Thank you.

After months of analysis paralysis, I have found an off market deal that I want to pursue. It will be our first BRRRR. Currently the house is full of personal items from someone who recently passed away. Thinking of offering a lower price and just saying that we will take care of the clean out if you just sell us the house now. 3 bedrooms' worth of stuff plus a living room and small kitchen, plus a yard with some sheds and other items - anyone have a ballpark cost for a clean up like this that I can bake into the offer price?

Also - what contractors would you recommend in the Hampton Roads area? I can get connected with a few through my own real estate channels but would love to work with one who understands the BRRR method to the madness - ideally it would be great to take this person to the house and get an estimate on rehab costs. So if you have any recommendations on a GC or any other workers that you LOVE that you think I'll need I would appreciate the help!

Agreed. The market is priced way too high here to fit that criteria. You might expand your search to Hampton or Suffolk where prices are lower.

Agreed. The market is priced way too high here to fit that criteria. You might expand your search to Hampton or Suffolk where prices are lower.

What kind of water? If it's usable with a kayak/canoe, those would be fun to provide for renters. Also a pool.

Sam, yes this helps a lot!!  Thank you for answering!

I am looking at a listing. The house was Foreclosed on a few months ago and the listing has a price for that. The home is now "Listed by Bank" for a lower price. Is this price negotiable? How can I get the best price for this house? Is this now an REO property? Any help and advice appreciated. Thank you!