All Forum Posts by: Chris Bell

Hey Everybody! I’m from NC and I’ve got a question regarding cost segs and qualifying for lending. I meet REPS status and I’m looking to cost seg some of my properties to offset me and my wife’s active income taxes as well as the passive gains from our rental properties. If I cost seg enough value to completely offset all of my taxable income, will lenders still give me credit for the income we made prior to the depreciation? Or will they consider us to have not made any money at all? Any input is much appreciated!!

@James Baker I appreciate it man! Will do💪🏽

@Will Dixon Perfect, thanks Will!

@Chris Thomas About 30k under the market value.

@Percy Matsunaga Awesome! I’ve got a great loan officer (Just did a refi in my home)! I’ll definitely be reaching out to him.

@Theresa Harris I feel like the “Real” reason grandma doesn’t wanna live there any longer is because the home reminds her too much of grandad. Now that he’s gone, I think she just wants a fresh start.

@George Blower Thank You for the information! I'm shutting down an existing LLC because of the hit the business took during Covid-19. This should qualify me to withdraws from my employers retirement plan penalty-free. Thanks again!

@Joe Splitrock Now THAT is something I did not know. I was going to start an LLC specifically for tax purposes. That is very valuable information. Thank you so much!

@Keaton Munsterman Mom lives in a small apartment and is wanting a place of her own. I could rent to another tenant at a higher price, but then there’s a higher risk of property damage, late payments (or no payments), etc. Being that mom is on a fixed income, I know that her portion of the rent will always be there. That, and she’s the cleanest person I know lol. She’ll treat the property as of it were here own (or better because it’s mine). Renting to mom helps me increase my worth while helping her out. It’s a win/win, 2 birds 1 stone, kind of transaction. Thanks for your response!

@Todd Rasmussen Thanks for the advice! I’ll definitely look into doing that.  And yes you’re right about that! It’s for that reason that I have one of her daughters helping with overseeing the process. I want the rest of the family to know that this move is on the “up and up”. I didn’t want her to sell, but if she’s gonna sell anyway, I’d rather it be to me! Thanks man!