All Forum Posts by: Drew Sing

Hey @Torey Chumbley - Great post! Did you end up buying a rental property and if so, which neighborhood and how is it going as an investment?!

Thank you @Nicholas Aiola appreciate your time and efforts answering my question! You may be hearing from me soon as I've been searching for a new CPA :-). 

Hi @Nicholas Aiola,

My goodness, thank you for helping so many folks here. I'm trying to figure out how/if a single person can use cost segregation to offset a high short term capital gains they've been forced into.

Example: Say someone will have $180K in short term cap gains from their company getting acquired (exercised options that will turn into cash), RE rental income of $30K for a non-W2 income of $210K. Their W-2 makes $125K per year currently (They don't have real state professional status), thus a minimum income of 335k for the year. 

Is it possible to buy a multifamily ($750k-$1.2m) with a mortgage to use leverage and execute cost segregation to accelerate depreciation to offset both the w-2 and short term cap gains?

Thanks so much Nick, 
Drew

ditto - With multiple recent guests preaching the power of tiktok, be great to know who is worth following on the platform. Considering documenting my next BRRRR on tiktok as an experiment.

Thank you @Mark Farrington will DM ya. 

Curious - do folks generally find Charlotte a better city to find SFH rental income investments with numbers that work, or are the 2 areas pretty similar in terms of values and rental income(Triangle vs. Charlotte area)? From my research, they seem similar but I may be wrong.

 

Hey NC BP,

I'll be in the Research Triangle for the first time to check it out for my next potential home. 

Planning to explore and learn about the area both lifestyle and investment wise. Friends have said I'd enjoy living here (32 yo, enjoy being active in nature, smart kind people, and delicious food).

I househacked my first home near Seattle and am interested in doing something similar in NC. Joined TREIA and been attending the Zooms, but would love to meet folks in person and even drive for dollars.

Will be in Durham for 1 month staring March 6 and would love to connect with anyone who 1.) has recently moved to NC to get their thoughts on living there and 2.) RE investors focused on SFH homes or have househacked or 3.) Folks simply interested in sharing NC with a newbie. Feel free to post or DM.

Huge foodie, so welcome all tasty suggestions :-) to support local restaurants. Will be covid cautious with masks and plenty of sanitizer.

Thanks Everyone, 

Drew

Thanks all for your comments. Agree it requires extra perseverance to find a good deal today @Jai Reddy @Account Closed, thus ensuring one is focused on a specific RE strategy is even more crucial as I'm still in the research stages. Putting in sweat equity to BRRRR a SFH into a MFH with limited cash is what I've done, so makes logical sense to rinse and repeat, but what's changed is my financial position and it's a whole different RE landscape, so hopefully others can relate that there may be alternative RE options that make more sense based on one's situation and the market (eg. syndication, partnerships, self storage, or just waiting, etc).

Thank you @Tyler Jahnke and @Nick James for your comments. The USD coin is quite interesting, will look into it. As for income taxes Nick, I could buy a property out of state, stay there for 1-2 months during the process, and still have my W-2 located Washington (no income taxes) where my primary residence is. The fully-remote W-2 adds another dimension to REI flexibility. Or I could do the math and do a househack in a state with income taxes if the #s worked.

I've been looking at Durham and the Research Triangle for both lower priced homes and a high quality of living, but they don't seem to have much of an inventory of 3-4 unit MFHs. 

Curious if anyone thinks there other growing areas that an "out-of-state" 3-4 unit house hack could work. Open to creative ideas 

Hopefully this is a fun “what would you do” RE question for the unique times we all live in:

If your goal was to get to $4000/month in income asap or by 2023 and you have/make...

• 50k in cash.
• 200k in stock you’re comfortable liquidating for a smart RE investment.
• 160K in HELOC available from a house-hacked BRRRR you completed.
• A forever remote full-time W-2
• You’re comfortable moving anywhere in the U.S with standard lifestyle amenities for a millennial (no podunk middle-of-nowhere class D places - this one’s tricky :-).
• 150k in yearly income (W-2 + annual rental income)

...what would you do? Asking for a friend ;-)

I’ve been researching, and am considering an investment in a class A, B 4-plex in the 600k-1m range that provides a .8% to 1% rent to purchase price ratio at 25% down, declaring 1 of the units as a primary residence, then executing cost segregation since the stock I liquidate would yield a 160k capital gain that I could offset (shoutout to Advanced Tax Strategies by Amanda Han for that thought).

I could go the acquiring SFHs, but that seems like it’d be more overhead and not leverage my current positions. Happy to provide more context/details.

Thanks BP. Where would you go and do? Looking forward to your opinions 🙇🙇

@Catherine Emert which of the surrounding towns in Central Oregon do you see having a promising future? Maybe the ones with decent schools or where people who've lived in Bend are moving toward.

Thanks for the town recommendations @Teri Feeney Styers! Which of those have the most walkable town area you'd say?