All Forum Posts by: Christian Chartier

I'm not necessarily seeking cash flow, I'm seeking lowest out of pocket costs so I can continue my buying journey. 

This current property I'm trying to purchase has 6 beds, will be perfect for another residential independent senior living property after I've moved out and should bring in about 36k monthly before expenses.

I've considered doing some flips, but my whole county has been picked clean. 

I could do some renovations to a duplex I own but it's already one of the more expensive properties in the area and I dont want to price tenants out. 

I'm also well into the process of turning this duplex into a residential independent senior living facility, which will increase my monthly cashflow by 25k before expenses. 

Other option is just to buy a cheaper home, sit on it then move again when the markets are better aligned, however I'm a firm believer that there are always deals to be made. 

I'm open to non-traditional options at this point, just need to get the deal done. 

How are interest only options looking?

I need the monthly payment as low as possible to get into another next year.

Hello everyone,

I've been researching ARM lenders for about a month and looking for lenders charging the lowest rates, FHA or Conventional are fine.

If you have used or know of any lenders offering low low low rates on an ARM, send me their info and what their rate is.

Legnth of time (3,5,7,10 yr) is not as important as the rate for this particular scenario.

Thanks in advance

Thank you for the feedback. It was my understanding that there are more tax advantages when you run the rental as a "business" instead of classifying it as an "investment."

Looking at the regulations, it's not hard to qualify a rental as a business. I manage it, spend time marketing, and repairs and improvements etc. 

I want to take advantage of depreciation, mortgage interest, expenses and deductions while also protecting myself against liability. Your saying I can do all that as is?

The last couple here, one of them got a bit too drunk and tripped off the deck and fell in the pool. 

After that incident, I feel it's necessary to distance myself from the asset through a corporate structure. 

Hello,

I have a to give a shout out to this community. Several months ago I made a post regarding buying a multifamily property in my area of Pinellas County, Florida. At the time, I did not even know I could purchase, but Brian from Tampa helped me see the light. 

Now that I am in the property and end of year looming, I want to get the tax situation established. 

I've owned businesses and know how to structure those, but this being my first property I am having some concerns/doubts on thr best way to structure this for maximum tax benefit. 

Stats: Owner-occupied homestead (property tax exempt due to military disability) although that won't start until January (currently paying about $600 monthly in taxes).

we have already floated some of the monthly payment on that unit and looks like we might be paying the majority of that payment a couple more times this year as it is the slow season. Already have it full booked from December to May however.

property: duplex

use: Owner occupied on 1 side and mid-term length rentals on the other side (30-90 days average booking). 

Business structures: LLC, sole-propietor, or some form or corp.?

I would like to maximize my tax benefits and use the funds to invest in another business/property. 

We have already spent money repairing different things that have broken, and make some small improvements (About 6k so far). 

Current incomes (wife and i): I have about 70k untaxed annual income

Wife is W2 just under 100k

In previous years weve been able to gget ur tax burdens down really low where we get a nice size payment at tax time because of past businesses, and my biggest fear is owing at tax time with our new situation. 

Hello everyone,

I've been stalking the forums here on and off for years and finally looking to do this for the first time. 

I've looked at several strategies, but now that I know what thr numbers are going to look like on some properties, numbers aren't really making sense to me. Hoping you guys can shed some light. 

As most of you already know there's no PMI, and 0 down on the VA loans.an additional benefit I have due to my combat related injuries and being rated at 100% through the VA is that I also don't have to pay property taxes. I am in pinellas county, Tampa Bay area.

Here is my question, with the 0 down and carrying the full mortgage with a Duplex, triplex, quad, the numbers seem strange to me. Regardless of which property I have the numbers on they all will require me to cover part of the mortgage, some instances up to 3k a month. 

The problem that i'm seeing is that i cant really cashflow any of these, they all require my cash on a monthly basis to make it work. I'm ok with that, but would like to start buying these up and actually make money off of then monthly.  

Some lenders are saying i can move out in 6 months others are saying they require 1 year. No problems with that, but the issue is that when I refinance these properties into conventional and FHA so that I can reuse my VA no down loan, i will then have to pay PMI and property taxes on the former property. With that said I don't see how I will cashflow anything around here.

These properties are either located in booming downtown St. Petersburg, Clearwater, or the beaches. 

Originally I was of the mind that I would hop in and out of these properties and cashflow them once I moved out of my owner occupied unit along the way, now that doesn't seem like it can happen. 

Help, advice, recommendations, and alternate strategies are requested.