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All Forum Posts by: Cole Stumbough

Cole Stumbough has started 4 posts and replied 7 times.

If anyone in north carolina is looking for the most recent 410-T form, I think I've found it. It has some things auto filled in that could be edited out for use.

http://russellpm.com/application/files/1514/6358/7...

Thanks,

Post: North Carolina specific Forms

Cole StumboughPosted
  • Investor
  • Greensboro, NC
  • Posts 7
  • Votes 3

--Thanks @Audrey Truesdale I'll reach out to him

-- @Nathan Miller Thank you for the advice I'll definitely use a nationwide search

-- @Mark Kennedy It's definitely on my reading list! also postlets looks great I will definitely use that.

--@Jack Farrell & @Rachel De Faut, Thanks for clearing that up. If I need to I will request it from an attorney, I was just hoping someone here had it on hand that they could send to me.

Would any of you suggest using rocketlawyer? I see that it's customizable, and a frugal solution.

Thanks all!

Post: North Carolina specific Forms

Cole StumboughPosted
  • Investor
  • Greensboro, NC
  • Posts 7
  • Votes 3

Hello all!

I am getting ready to rent out my first property in Winston-Salem and I would like some help finding the following and any other advice you might have:

1. NC residential lease agreement (I requesting the most update 410-t form from my realtor but said it wasn't for the general public, only realtors).

2. Rental application

3. best sites for screening tenants (background, criminal, credit, etc)

4. anything else you might think of.

Thanks!

Post: (Taxes) Can I deduct the repairs on both duplex sides?

Cole StumboughPosted
  • Investor
  • Greensboro, NC
  • Posts 7
  • Votes 3

Hey @Charlotte Fogarty 

The property is under my name using an FHA loan. So I would move from one side to the other as the owner, while renovating the vacant sides.

Post: (Taxes) Can I deduct the repairs on both duplex sides?

Cole StumboughPosted
  • Investor
  • Greensboro, NC
  • Posts 7
  • Votes 3

I have an owner occupied duplex tax strategy that I would like to get advice on:

If I were to live in one side, and renovate the other side, and them move into the renovated side, and renovate  the first side, would I be able to deduct the repairs on both sides since they are technically the rental side when I'm renovating them?

Post: Buy and hold newbie from the Piedmont Triad (NC)

Cole StumboughPosted
  • Investor
  • Greensboro, NC
  • Posts 7
  • Votes 3

@Jennifer King, The property is south of Winston-Salem. I use to live in the Pacific Northwest over in Oregon. Funny how that works!

@Amanda Cook

@Amanda Cook,  I haven't been to any meet ups yet but I plan to when my schedule cools down.

Thanks @Paul Timmins for all the great content. I'll get my nose to the grindstone.

@Tomas Chao

@Tomas Chao Thank you sir!

Thanks all!

Post: Buy and hold newbie from the Piedmont Triad (NC)

Cole StumboughPosted
  • Investor
  • Greensboro, NC
  • Posts 7
  • Votes 3

Hey all,

So I've taken the plunge on my first investment thanks to you guys. It's the owner occupied duplex strategy. I'm very excited, and I should be closing on the duplex soon. This is my first RE investment and I'm sure it's going to be a rocky road as I learn from my mistakes. I'll keep on using Bigger pockets as a tool along the way.

Just want to say thanks all for all you do!