All Forum Posts by: Carlson Driver

 yea. i plan to. but i am also doing it myself this year and then verifying w/ the tax person. Trying to learn deeper this year since we plan on doing more this CY22

We acquired a property in 2021 that was listed as a single family. But the owner at the time had a renter living in the basement. Once the owner left, we continue to treat it as a duplex.

The renter from before continued living there in end of 2021 and now in 2022. The top unit just got rented in 2022.

While filing taxes, TurboTax is asking me whether the property is a single family or a duplex. 

Given that the property is listed as a residential during sale, I think I should select "Single Family". We dont have separate meters or anything like that in place yet.

Any thoughts on whether I should file it as Single Family or Duplex for 2021?

Also, would this selection continue in 2022?

We are trying to rent one of the two units in south Seattle near Beacon hill. How long does it typically take for these units to get rented in Seattle during this time of the year? 

@John Teachout thx. thats awesome! 

Which tool would this be?

Thanks. I did some research on MLS

I think MLS requires me to have a realtors license and a monthly fee.

My question was more towards a single tool that allows me to filter down properties and match them against their forecasted rent. Does something that does both exist?

I am looking for a "tool" or a website or something that allows me to:

1. Put in a zip code and parameters such as # bedrooms, price, etc.

2. Get the list of houses and run them through zillow rentals or rentcast to see what are positive cashflow projected, or cash on cash etc.

3. This is the list of houses that I would want to start off with to trim down whether they meet my criteria

Does something like this exist?

** Reposting since the last one was over the holidays and this seems like a common question **

I came across this cool spreadsheet by Roofstock but I cannot find it on their website.

What is cool about this spreadsheet is that it allows you to project out what your overall real estate portfolio would look like as you increase the number of doors.

Does anyone know whether this spreadsheet is downloadable somewhere? Or any other similar spreadsheet that allows me to project out what my portfolio could look like over the years?

We work out of Washington that does not have state taxes. We are looking to invest out of state in USA for remote investing with Roofstock.

What should we keep in mind with respect to state taxes? For example, Texas does not have state taxes but the Carolinas do.

I came across this cool spreadsheet by Roofstock but I cannot find it on their website. 

What is cool about this spreadsheet is that it allows you to project out what your overall real estate portfolio would look like as you increase the number of doors.

Does anyone know whether this spreadsheet is downloadable somewhere? Or any other similar spreadsheet that allows me to project out what my portfolio could look like over the years?

In October, we did a trip to Idaho for the exclusive purposes for finding a LTR. The expenses were 

1. The car mileage and gas

2. The lodging and food

Overall, the trip cost us ~$5K. We did not end up investing in Idaho. We ended up investing in another state (Montana). The new LTR single family is now bought and rented. It is a quit claim deal where it is owned by the new LLC we created. The new LLC has its own bank account.

How should this trip get captured for tax purposes?