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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306: Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio w/Chad Carson
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302: Rookie Reply: How to Get 100% Financing for ALL of Your Real Estate Deals
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300: Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units w/Rachel Richards
299: The 4 Steps to Financial Freedom Through Rental Property Investing
298: How Tony Lost $100K on ONE Real Estate Deal (AVOID These Critical Mistakes)
297: Traveling the World Thanks to One $6,500/Month Rental Property w/Olivia Tati
296: Rookie Reply: Pre-Foreclosures and How to Cut Your Property Management Costs
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294: No Money for Real Estate? 2 Side Hustles You Can Use to Fund Your First Deal w/Ava Yuergens and Josh Janus
293: 6 Rental Properties in 15 Months (While Working 3 Jobs!) w/Brandon and Dani Tilson
292: Rookie Reply: The One Thing You Need to Pay $0 in Income Tax
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