All Forum Posts by: Chris Ivy

Hi Michael,

I agree with you, and it seems TurboTax and the state of Oklahoma do too.  One question I now have is the following: do states typically allow you a Schedule to deduct expenses like maintenance and repair, or is that just a federal thing?  It seems like on my OK return they're just looking at my gross rents as a percentage of my AGI and taxing me without looking at any expenses I had.  Is that typical?  Thanks as always- you guys are an incredible resource!

Thanks guys!  That settles it, I'll go ahead and file in OK.  I appreciate your feedback

Hi all, I have an out-of-state rental in Oklahoma.  It's net income is a loss due to high turnover costs, management fees, etc.  If my net income (rents- expenses and mortgage) is below $0 do I still have to file in Oklahoma?  Thanks!

Hi Marcos, I'm a Fort Collins investor with a couple of rentals here in NoCo.  Welcome!  Good luck getting started and feel free to send any deals my way :)

Hi David C.  Did you ever get a response that worked for this?  I'm doing the same thing right now and not sure how to proceed

Hi Chris, thanks for the response.  William Tingle seems like a great resource.  Thanks for pointing me in his direction

I'm planning on beginning marketing for subject to deals and seller finance deals, but am wondering where the best place to get the transaction paperwork for this kind of deal is.  Is a local real estate attorney going to be able to provide them?  Should I reach out to local investors (seems unlikely they'd want to share with the competition).  Can you find contracts online?  Thanks for the help!

Hi everyone,

I'm looking at buying an STR and self-managing. However, I like to hike, backpack, and do occasional remote trips where there is no cell phone service for up to 5 days. Is it possible to self-manage and still do these kinds of things? How does one make that work? I'm aware of channel managers and autoreplies, but it seems like some responses to guests require personalized answers. Thanks as always for all your help!

Chris

Thanks to everyone for your input.  Managed to close on a property and the numbers look good so far.  We’ll see about the next one!  You guys are a huge help!

By the way, can anyone recommend a roofer in the area?  Half of the roof was recently redone, but the other half needs to be replaced.  Thanks again!