All Forum Posts by: Austin Sharp

Thank you! Yes i do materially participate!

Hello, 

I am a real estate investor, real estate professional and a  CCIM in Amarillo, TX. 

I took bonus depreciation through a cost seg study on the properties i bought,  and generated a paper  loss of ($370,000) 

My question is, can i take this entire amount against the w-2 income, and receive a big tax refund? 

The w-2 income was about $180,000. 

Thanks, 

Austin Sharp, CCIM

I am investor in Amarillo with 28 properties, so far we received 100% of march and april rent, and it looks like most of may is solid
I think this comes down the question of where consumers are spending their money
Most are in a necessity mindset, ie rent, food, gas etc
Landlords for sfr should be in  better shape than retail landlords etc

Great episode!

Thanks for all the informative content 

Lorraine:

Great question! First off, congrats on your success, it sounds like you are doing some great investing and have been very thoughtful in your approach. 

I would guess part of this answer depends on your investment goals.

Are you wanting to flip this deal after you have recovered your rehab cost, or are you looking for a larger commercial asset to hold and build cash flow and equity?

What does a large deal mean, 20 units or 200?

If you wouldn’t mind sharing some more information maybe we could help answer the question.

The multifamily market is very compressed and competitive right now, if you can get 20 coc and a good irr, you are doing pretty good!

I can also send some cash flow spreadsheets that break down irr and other metrics so you can analyse your deals!

Thanks

Austin Sharp

Mays Inc

mayscre.com

Thank you for the input

I was going to have him sign something if I allow him to perform the work. Also, he has worked in the industry before, so it's not like he is an amateur

Hello:

I have been a bigger pockets member for 8 months, and have listened to the podcasts for about a year plus. 

I have 16 properties in the Amarillo, TX area currently.

My question is about mold. One of my houses had a leak underneath the house. We fixed the leak, but we discovered some black mold.
My tenant used to sale to Blackmon Mooring, and he works for a local flooring company. He told me he would place a few fans under the house, and spray with bleach etc 
He has experience with this type of issue.

Question: would you recommend this course of action, or should i call a blackmon mooring/ servepro company? I don't want the problem to spread and i don't want anyone to get sick.I want to make sure the mold is killed and doesn't spread.

Thanks!!