All Forum Posts by: Cameron Lee Brown

For 2020 return, we filed an AZ nonresident return to report PAL to be carried forward. For 2021, there was no income/loss to be reported for AZ. If I want to be able to use the 2020 PAL carryforward in a future year where I might have AZ source income, do I have to file an AZ nr return every year to keep carrying forward the limited loss, or is it okay to not file again until there is an income/loss to be reported? I don’t want to lose the PAL (over $10k), but don’t know if it’s necessary to keep filing the same PAL each year until it can be realized or if filing it the one time is sufficient.

I am a Tennessee resident and have invested in a syndication of a multifamily property located in North Carolina as a limited partner. The LLC that bought the property is incorporated in Arizona.

I received an Arizona form 165 schedule K-1 for non-residents for 2020 with a reported net loss (no income), and nothing else.

Do I need to file a state return for Arizona in addition to filing my federal tax return?

I'm in the same boat, have capital and love the Durham area. I've got a SFR there and am a LP on a multifamily in Fayetteville. Those Durham syndicators are pretty shy on here.

PhD in chemistry and full time job as an industrial research chemist. I think my education and background as a scientist helps my ability to research, statistically model, and understand complex problems, as well as make decisions based on data and not emotion. For real estate specifically, it’s valuable when looking at market/population trends and modeling different physical scenarios to see how they impact the underlying financial assumptions of the business plan (particularly in multifamily).

Currently have:

-1 SFH

-LP on 16-unit multifamily

Current age: 30

Started at 28 by converting primary resistance to a rental when I moved out.

Interested in 1-4 units that I can either tackle myself or with a partner in the Durham, NC or Johnson City, TN markets (100-250k) or larger multi-family JVs or syndications anywhere but Fl, Ca, and northeast US.

@Ashton Levarek

I do live where I work, but that’s only because my work involves research and experimentation in a chemistry lab. I invest, however, where I see opportunity to have a positive impact on the local community that can also provide a decent return on investment for me.

I currently live in East, TN, but have an out-of-state investment property in Durham, NC and am looking for more opportunities there and in East TN. I’m also a passive investor on one of Ashton and Chris’s multifamily syndications in Fayetteville, NC. I like the team they have built and am excited to see how things are progressing. Keep up the great work!

Cameron

@Daniel Jarzynski I’ve been in the Kingsport for almost 2 years and am part of a multifamily meetup group that meets every two weeks at Sabores in downtown Johnson City. We also started doing a Facebook live stream recently as well due to Covid. You can find more info at:

https://www.facebook.com/groups/340050479962129/?ref=share

I’ve got property in Durham, NC and am an LP on a multi family property in Fayetteville, NC. I’m currently interested in acquiring more property in NC as well as in the Johnson City area.

In my opinion the areas between Kingsport and Johnson City are expanding and would be a good place to look. Especially south of i81 along i26 closer to Johnson City. Boone’s creek, Grey, and state of franklin area.

I’m happy to speak more if you want.

Cameron

@Gary Abner that was not my experience with PenFed. Don't get me wrong, they were great and fairly easy to work with. But when I mentioned to the rep helping me that I might use some of the HELOC funds to invest in other properties, she advised me to not put that in my application because I wouldn't be approved. I ended up going with "for property upgrades and in case of unexpected expenses."

@Chris Salerno

My 2020 real estate goals are:

1) keep the fire going by continuing reading, listening to podcasts, and networking

2) invest in at least 1 multi family syndication on the LP side

3) maintain a consistent presence on social media and publish on my blog regularly.

@Nathan G.

Books read in 2019:

1) Getting Things Done

2) Antifragile

3) The Big Short

4) The War on Normal People

5) Good to Great

6) The Gift of Fear

7) 1984

8) Long Distance Real Estate Investor

9) The Story of Kodak

10) The E Myth: Revisited

11) Trend Following: How Great Traders Make Millions in Up or Down Markets

12) The Book on Estimating Rehab Costs

13) What Every Real Estate Investor Need to Know About Cash Flow

14) The Book on Managing Rental Properties

15) Set for Life

16) The Millionaire Next Door

17) Zero Risk Real Estate: Creating Wealth Through Tax Liens and Tax Deeds

18) Real Estate Loopholes

19) Market Wizards

20) Rich Dad Poor Dad

21) Sleepy Hollow

22) The Personal MBA

23) On Tyranny

2020 Reading List:

-Wealth of Nations

-The Organization of Industrial Scientific Research

-Toms River

-In Love and War

-Skin in the Game

-Extreme Ownership

-Best Ever Apartment Syndication Book

-Finance for Nonfinancial Managers

-The Muller Report

-All Quiet on the Western Front

-Zen and the Art of Motorcycle Maintenance

And whatever else catches my eye...