All Forum Posts by: Andrea Rowell

Hi BP! 

Can anyone recommend a property management team for investment properties in Waco, TX?

Thank you

Yes, there are definitely gaps in my understanding. :-)  I've been reading IRS Pubs and Forms; but, you know how that goes.  Correct me if I'm wrong.  I can deduct the amount of expenses up to the amount of income accrued from rent.  I am navigating my way around BP and gathering information.  I am also beginning my search for a tax planner/preparer who is proficient in rental properties.  Thank you, so much.

Hi, My husband and I are newbies to real estate investing. We purchased two condos out of state in February. We are going to do some upgrading and repairs which will result in a loss this year. Our MAGI is above $150,000. From what I understand, we will not be able to deduct this loss on our taxes. Am I correct? If so, is there anyway around this? Does this also mean that we cannot deduct property management fees, HOA fees, repairs, etc?

Hi.  We have a living revocable trust that our personal home is in.  When purchasing rental properties, do we place the properties in our revocable trust at the purchase time?  Does it matter if we are out-of-state buyers?  Is this a smart move?  Thank you!