All Forum Posts by: Evan DiLeonardi

 Thanks John. Going to try to schedule something with him this week.

 My place is in the Jefferson Park area. I've heard of costsegkev through some friends as well, so I'll definitely reach out to him.

 Hey Michael - thanks for this. I'll follow up with each next week.

Does anyone have a recommendation on a good cost seg company? I'm in the Chicago area (but I don't think location matters too much).

Thank you John. I ended up doing a lot more research since I posted this and just closed on my place last week. I went with the conventional route to make it easier.

I'm looking to buy a single family home and rent it out on Airbnb when I'm not there. I travel a lot on the weekends and for work during some weeks. It will be my primary residence when I'm not traveling though.

My question is, am I allowed to rent it out on Airbnb when I'm not there? The FHA bylaws seem to restrict short term rentals but I've heard of people doing it so I wasn't sure.

Would it be easier to do 5% down conventional for a primary if I plan to Airbnb it? My goal is to reduce down payment, closing costs and the interest rate which is why I wanted to do an FHA loan if possible.

Thanks!

Question says it all. I know you can do it either way, but I'm struggling to figure out which is smarter (if one is smarter). 

Does it even make a difference considering the loan is paying for both UPMIP or the equity anyway?

I'm looking at investing in a RE syndication project that is run through a funding LLC. What's been explained to me is that I am investing into the funding company LLC, who will then pay me out and issue me a K1 tax form.

The project runs 14 months in length, however, I would be coming in with only 11 months remaining on the project. My assumption was that I would pay short term capital gains taxes on this because my personal investment is under 1 year. The funding LLC lead who I spoke with told me that because the project as a whole doesn't require capital gains taxes (>12 months) then she thinks that is how it will be issued out to their investors. She also told me that the date my investment started personally shows up on the K1 form which made me feel like the opposite of what she thinks is true.

Overall, she told me to consult a CPA to be sure, which I do plan on doing, but I wanted to gauge the Bigger Pocket's community's opinion on it first to see if I'm missing anything obvious.

Thanks!

I'm looking at investing in a RE syndication project that is run through a funding LLC. What's been explained to me is that I am investing into the funding company LLC, who will then pay me out and issue me a K1 tax form.

The project runs 14 months in length, however, I would be coming in with only 11 months remaining on the project. My assumption was that I would pay short term capital gains taxes on this because my personal investment is under 1 year. The funding LLC lead who I spoke with told me that because the project as a whole doesn't require capital gains taxes (>12 months) then she thinks that is how it will be issued out to their investors. She also told me that the date my investment started personally shows up on the K1 form which made me feel like the opposite of what she thinks is true.

Overall, she told me to consult a CPA to be sure, which I do plan on doing, but I wanted to gauge the Bigger Pocket's community's opinion on it first to see if I'm missing anything obvious.

Thanks!

Hey Greg - thank you for the reply. I think my next step should be diving into the verifications of ownership of the past deals to make sure the background I've found is accurate. Again, appreciate the reply, lot of helpful tips in there.