Need to estimate rehab costs or calculate ARV (after-repair value) on a property? For new investors, these tricky tasks can often make or break a deal. But, as always, our hosts are here to deliver some helpful tips!
Welcome back to another Rookie Reply! After diving into rehab costs, discussing hard money, and weighing the pros and cons of FHA loans, real estate tax strategist Natalie Kolodij returns to the show to deliver some extra tax advice. She talks about passive losses and why you need to carefully track them from year to year, as well as how tax benefits are allocated in real estate investing partnerships. Stick around until the end to learn the ONE mistake you can’t undo on your tax return!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How to estimate rehab costs and calculate after-repair value (ARV)
The pros and cons of FHA loans (and when to get a conventional loan instead!)
How to find the right hard money lender for your next deal
Why you NEED to track your passive losses (even if you can’t use them this year)
The ONE tax benefit you can never get back if your taxes are filed incorrectly
Using losses to offset earned income with the short-term rental “loophole”
How tax benefits are allocated in a real estate partnership
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Find a Hard Money Lender
Grab Your Copy of “The Book on Estimating Rehab Costs”
Hear Our Last Episode with Natalie
How to Use “Hard Money” to Flip Houses, BRRRR, or Buy More Deals
FHA vs. Conventional Loan: What’s the Difference?
Should You Start Investing With an FHA Loan? Here’s Why... Or Why Not
Connect with Natalie
Natalie’s BiggerPockets Profile
Natalie’s Facebook
Natalie’s LinkedIn
Natalie’s Instagram
Natalie’s Website
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-371
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74: Rookie Reply: Next Steps After Buying Your First Property
73: Partnerships: What to Do Before You Jump in With Another Investor
72: Rookie Reply: Cash Out Refinances vs HELOCs | Which Should You Use?
71: Auctions, Section 8 Tenants, and 16 Doors in South Chicago with Martin Neal
70: Rookie Reply: Should I Sell or Rent Out My Primary Residence?
69: Putting Rentals on Autopilot While Living in the Dominican Republic with Becky Nova
68: Rookie Reply: Stop Making Excuses in Business & How to Develop a “Scout Mindset”
67: Moving From Single Family Homes to Self-Storage Units with Dee Brock
66: Rookie Reply: Buying Sight Unseen & Financing Off-Market Deals
65: Multifamily, Mobile Home Parks, and Commercial Deals: All in 2 Years! with Tommy Polise
64: Rookie Reply: How Do I Place Properties Under a Newly Acquired LLC?
63: Diverging From Corporate Life to Flip Houses Full-Time with Sean and Ann Wayne
62: Rookie Reply: What’s The Best Way to Find a Lender?
61: Digital Nomad with 15 Units in 5 Different Areas with Michael Su
60: Rookie Reply: How Do I Analyze Short-Term Rentals?
59: Rookie First-Time Home Buyer Questions Answered by Scott and Mindy
58: Rookie Reply: Doing The Work Yourself vs. Hiring Out
57: Virtual Assistants, Roach Infestations, and Turnkey Companies with Maria Acosta
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