All Forum Posts by: Chaz T Johnson

@yonah Wiess I never even thought of a mobile home park. That is a great idea. In your experience would doing a cost seg on a SFR be cost efficient? Or would it make more sense to have a large unite property?

I am trying to determine what the best strategy is to utilize the 100% bonus depreciation for rental properties. What property types/ number of units/ remodel or not give me the best chance to have a high percentage of the property be classified as personal property for bonus depreciation in a cost segregation study? 

I am a physician and my wife is a realtor, actively participates in real estate. My student loans are 10% of our adjusted gross income. My goal is to lower my AGI as much as possible to lower my student loan repayment. My plan is to buy rental properties and do a cost seg to take advantage of the 100% bonus depreciation. This will lower my student loan payments for that year significantly. 

In peoples experience how should I best spend my money in real estate to get the highest bonus depreciation? Since it is mainly things like furnishings and appliances would it make more sense to buy a 4-plex vs a SFH? Does anyone know how much personal use property percentage is in a typical SFH vs 4-plex? Would I be better off buying a fixer upper and spending money on updates? Should my strategy be to spend on of out capital on the down payment to buy a more expensive rental with a large cost basis?

Not sure of the above terms are used correctly... Thanks for the input

HELLO! My name is Chaz Johnson. I am currently completing my third year in psychiatry at Western Mich Univ. I matched into a fellowship in Milwaukee that starts July 2019. I currently have a rental in Uptown Minneapolis that I have been renting out for the past 5 years.

My plan is to househack a distressed 3/3 duplex in one of the trendier Milwaukee neighborhoods and rent to young professionals. 

Excited to meet some new people in the area and get the next phase of my career started! 

Would greatly appreciate any recs on realtors. 

Thanks!

@Jordan Moorhead I was considering airbnb but thought with the high turnover rate it would be to difficult to manage out of state.

Thanks for all the tips and support! The amount of information out there seems daunting. It is starting to seem more manageable with more books I have read and podcasts listened to.

Hello! My name is Chaz Johnson, I own a SFR in Uptown Minneapolis MN. I bought it in 2011. I have lived out of state for past 5 years due to medical school. I am currently completing my medical residency in MI. I have be using room share on Craigslist and have been renting it out over the past 5 years. As my residency ends I would like to start buying more properties. My overall goal is to have have my wife continue to work as a real estate professional so we will be able to you passive income to decrease my active income.

Looks great, thanks for sharing.