All Forum Posts by: Anne Grello

Thoughts on filing Cost Seg for taxes? Is it a good idea? What do you do with the money? 

What happens if I sell the property before the 27-year depreciation point? (Ideally I want my property to help pay for my kids college in the future- they are currently only 2 years old)

TIA!

Hello!

My husband and I are really interested in getting into wholesale real estate investing. We have watched a quite a bit of youtube videos on the subject, but would like to have someone with experience mentor us and let us ask a few questions. I guess you can say we have a bit of analysis paralysis and want to make sure we are doing the right steps at the right time. We currently live in Jacksonville NC. So if anyone is doing Wholesale in NC that would be outstanding. But information and guideance from anyone would greatly be appreciated.

Thank you for your time!

Anne.

Hello!

My husband and I are really interested in getting into wholesale real estate investing. We have watched a quite a bit of youtube videos on the subject, but would like to have someone with experience mentor us and let us ask a few questions. I guess you can say we have a bit of analysis paralysis and want to make sure we are doing the right steps at the right time. We currently live in Jacksonville NC. So if anyone is doing Wholesale in NC that would be outstanding.  But information and guideance from anyone would greatly be appreciated.

Thank you for your time!

Anne.

For mid-term rentals that are houses with yards and pet friendly, what do you typically do for lawn maintenance? Hire out and request that tenants pick up dog poop before weekly mowing? Or leave a mower at the residence? Tenants will be in the home for 3-6 months. Ideas? 

TIA :)

Hi all! I was attempting to get insurance quotes today and one company told me they don’t underwrite for “short-term” rentals, only “long-term”… which category are you all insuring your mid-term rentals under? Any recommendations for coverage I should be looking for? Thank you!

Newbie closing on my first property, how do I keep my rental income separate from my personal accounts if I don't have an LLC and therefore can't open a business account? Should I just open a separate checking account? This is my first and only investment property. Thank you!

Hi James, thank you for the advice. The only analysis tools I have used have been the rent estimators and rental property analysis tools provided by BP. As well as looking at sites like AirDNA, Furnished Finder, AirBNB, Zillow, etc. to gather data and trends about my local market. This was in an attempt to figure out if I wanted/could afford to go into to the LTR niche with this first property or do more of a MTR or STR. This was also how I figured out that purchasing a home (with 25% down and an estimated 8% interest rate for the loan) for much over 200K in a rental market where the average rents are 1100-1450 for a 3B/2B is not going to cash flow at the moment. I definitely do not want to be in the business of making shots in the dark!!

Thank you so much for your advice, Bill! That is a really good point about the EMD and perspective about cash flow and looking at the investment for the long term. I am not angry that sellers prefer the cash offers, just wondering about how to creatively compete until I can get to that level! Thanks again for the great advice!

 Thank you Marian! Yes, I am using an agent and working on networking with other investors in the area to learn more about the specific market and their successes and setbacks. Some have even been looking out for me and letting me know when a good deal hits the market! 

 Thank you for the advice, Eliott! That is definitely a mind-set I need to adopt and would benefit from