All Forum Posts by: Erik Pacpaco

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@Alex Bekeza So when refinancing a BRRRR property that was rehabbed with a decent ARV and is renting out well, would the lender still care about my DTI?

Thank you all for the great feedback. I'm wondering if there'd a benefit to purchasing a property and rehabbing the property with cash thru my HELOC? Would make banks who I approach for refinancing look at the ARV and that the rents well or would they focus on my financials?

I live in Hawaii and by virtue of owning real estate here my debt to income ratio (DTI) is pretty high. My question is would I be able to BRRRR using a HELOC to purchase out of state real estate? Would the bank be concerned that I have a high debt to income ratio when I'm trying to refinance a property? Would it be a better strategy to BRRRR using the HELOC completely under my LLC?

Hello,

my mom once told me to increase the number of exemptions with my job so that I will pay less in taxes and get the most return with each paycheck. The reason behind that is because you're technically giving the government a tax free loan for 1 year from April to April and that it's better to get more from each paycheck and just pay at the end of the year.

We have some real estate for which we try to increase our deductions but I work a lot of overtime as an ER nurse so that I can save in order to invest in real estate and make ends meet in our high cost of living in Hawaii.

Is my mom correct with her advice?

I would like to get the most with each paycheck to achieve my goals in real estate and at the same time decrease the amount that I pay at the end of the year to the IRS. Any advice? 

Thanks Duc! I have been writing to Tony. Sorry, I have a lot of questions. Where in Pittsburgh have you been investing? What kind of houses have you been buying? Do you a contractor that you have been using in Pittsburgh? Do you have a bank that you have been using for refinancing? Also, do you have a property management company that you have been using there?

Hello, I'm an out of state real estate investor who wants to reach out to people who have experience investing in Pittsburgh. Coming from Hawaii, it is really difficult to invest in my home state so I am forced to seek out new territory for investing. My wife is from outside of Pittsburgh and we are thinking about looking into opportunities there. I hope this will find people who can share advice on where in the city to invest. Thank you!

Just wondering whether you are able to consider a trip to California a tax write off if you schedule a meeting with a real estate agent to look at properties? If so, what kind of documentation would i need?

Hello BP, we have real estate in Hawaii and Arizona and need a CPA who can help us with our 2018 tax return.

Does anyone know of a real estate savvy CPA in the Peoria and Phoenix AZ area?

We have a single family in Phoenix Arizona that we’ve owned for just over a year with an HVAC that has been having issues with the heat. We don’t know how old the system is and the previous tenant mentioned that the HVAC was having issues while they were in the unit last year. We had 2 technicians from 2 different repair companies check out the unit yesterday and they both confirmed that an electrical panel broke down and is causing the heat to turn on and off intermittently. They mentioned that the electrical panel can be replaced but it won’t guarantee that it will resolve the issue. Currently we have the renter using space heaters and the HVAC off bc Arizona is having temps in the 30-40s at night and the early morning. The advice that I’m seeking is whether I should replace the HVAC or to replace the panel. The panel costs $1000 to replace vs buying a whole new system for $7300. I also have the option of financing the HVAC for interest free payments for 2 years or with interest for 5 years. I’m leaning on the interest free payments bc I need cash liquid and available for investing and for other repairs as they come up. My wife and mother in law have the hair brained idea of just getting the electric panel repaired and just getting a home insurance like American Home Shield on the HVAC just in case the system breaks down. They’re hoping the HVAC will breakdown again and that it can be replace by the home insurance. I don’t like the idea bc we put in $1000 for the replacement of the electrical panel and take the risk that it won’t work. Most of all, this is all at the expense of the tenant’s living experience in the unit without heat.

Please send me your advice and thoughts.