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
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
283: 19, Broke, and No Credit to 28 Units and Over $1 Million in Real Estate w/Caleb Hommel and Chuck Sotelo
282: Rookie Reply: Should I Switch Markets? (Why You're NOT Finding Deals)
281: Making $1,200/Month from ONE Rental After Bouncing Back from a BAD Deal w/Michael Yi
280: How to Buy a Rental Property with NO Money OR Credit w/Pace Morby
279: Making $71K on ONE DEAL After 5 Failed House Flips and Six-Figure Debt w/JP Desmet and Aaron Bihl
278: Rookie Reply: Finding Comps, Estimating Rehab Costs, and Filling Vacancies
277: Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property w/Sara Plaisted
276: How to Get Into Commercial Real Estate Investing (For Beginners)
275: From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) w/Mike Larson
274: Rookie Reply: Inheriting Tenants, Getting Pre-Approved, and Raising Rent
273: Making $100K in 18 Months with “Misfit” Medium-Term Rentals w/David Rosenbeck
272: Rookie Reply: How to Get a DEEP DISCOUNT on Properties with Back Taxes
271: $900K in Real Estate at Age 17 by Doing What 99% of Teenagers Won't w/Ava Yuergens
270: Rookie Reply: Airbnb Arbitrage, Turnkey Rentals, and When to Use a HELOC
269: Rookie to Real Estate Investor: College Rentals, Airbnbs, & Plumbing Problems
268: Rookie Reply: Seller Financing, Squatters, and Is Becoming an Agent Worth It?
267: 24 Units in 2 Years by Making Your Rentals Match the Market w/Andrew Freed
266: Rookie Reply: Unpermitted Renovations, House Hack Profits, and Frozen Pipes
265: Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow w/Devana Came & Reid Stadelman
264: Rookie Reply: Building vs. Buying and Avoiding Capital Gains on a Sale
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
BiggerPockets Real Estate Podcast
BiggerPockets Money Podcast
BiggerPockets Business Podcast
BiggerPockets Daily
The InvestHER Podcast