All Forum Posts by: Coty Leon

@Jeff Greenberg, 

Thanks, count me in.

Bad news... Denny's doesn't "normally" take reservations on weekends, according to the manager at that address. He is going to talk to his supervisor and see if they can make an exception. While I am working on it, if anybody has suggestions on alternative places, please chime in. Surely, there must be some business which might be interested in hosting 30-40 people on a Sunday afternoon

This is the address of Dennys at Culver City

10700 Jefferson Blvd, Culver City, CA 90230

How about we do Sun Aug 10th, 2-5pm? I can make a quick call to the Denny's and ask their availability.

@Jeff Greenberg ,

I stopped by the Denny's on the way to work to ask about their private dining room policy. They charge a flat $50 to use it "as long as you want". The room is pretty big with a really large rectangular dining area in the middle that should work great for meetup under 50 people. The parking is no problem in that area (it is in a shopping corner with Ralphs and other small businesses with plenty of parking usually) for typical weekend afternoon.

I was thinking if we are ok with a small entry fee (say $5 per person), we just need to have 10 people show up to cover the cost. Anything extra, we can order appetizers etc to share with the group. Of course individuals can also make use of the menu and order extra food or drinks for themselves.

Let me know what you think...

@Jeff Greenberg what about the Venice Grind like the first two meetups? Its free and since the cafe closes at 4pm, we can use the tables pretty much for ourselves if the meeting starts at 4... I think that the Denny's nearby has private meeting room as well, but its probably not free.

If the last two years of tax return show a net loss (because of depreciation etc), does anyone know how it impacts this calculation? Or they take 75% of gross income into consideration?

Sorry, I just re-read Mark's first post and realized that the trust deed income is not eligible on Schedule E, so it can't be offset against losses reported on that form. For all practical purposes its the same as my W2 income, so the rental loss doesn't matter as long as I'm not qualified as real estate professional or have AGI above 150k. Thanks again.

Thanks Mark and Ben for the replies. As of now, I don't qualify for real estate professional so I know the rental loss isn't deductible against my W2 income. Since both my rental income and trust deed income come from passive real estate activities, I just wanted to make sure the loss from rental can offset the income from trust deed. I read that if the AGI is above 150k then the loss allowance is reduced to zero, does that mean I have to pay the marginal tax rate on the trust deed income no matter what my losses are on rental?

Hi,

If I have income and losses from different real estate activities (e.g rental loss and trust deed income), can the loss from rental business be offset against the income from trust deeds? If that matters, lets assume they are all being done by personal name and not under single/multiple LLCs.

Thanks

Hello all,

I am having a hard time getting traditional lenders to provide HELOC on a free and clear rental condo. I can understand their reluctance to provide financing based on a rental condo but what is the risk involved in first position lien via HELOC? Certain lenders, for example PENFED, clearly state that they don't provide HELOC on a first position for investment properties.

BTW, if there is any mortgage broker here who could help me get one, please contact me. The property is in Los Angeles.

Thanks in advance