All Forum Posts by: Frankie Lotrec

 @Andrew  Johnson

Tx so much for your reply.  It's an R4 meaning its zoned for multi.   No permits yet, waiting for sealed plans then framing begins.    What if the 5th unit (basement) is owner occupied???

Hi, I'm new in the real estate world. I recently purchased a home in VA. It needs major rehab work and I'm considering applying for a construction loan. I'm converting it to 4 units possibly 5. The question I have is, when is a home considered commercial for loan purposes at 5 units?

Hope it's not too confusing ...

thanks 

francesca

Hi, I recently purchased a home in VA. It needs major rehab work and I'm considering applying for a construction loan. I'm converting it to 4 units possibly 5. The question I have is, when is a home considered commercial for loan purposes at 5 units?

Hope it's not too confusing ...

francesca

@Bill Hampton. Hi Tx for your reply.  I need SO locally to look at our stuff to see if we 've missed 

( I'm hoping) some deductions. My husband is an engineer, self- employed. Unfortunately, according to Uncle Sam,  he made too much and we ended up in debt  to pay our taxes. Preposterous!

I'm being proactive for next April, can't afford to pay as much as we have....

Hi! After 2 years of paying exorbitant ( debilitating)  federal taxes, I ' ve decided to look for a tax strategist.  We live in PA outside of Philadelphia, In the King of Prussia area.  Does anyone have a recommendation for a local tax strategist who can help? Thanks in advance.

Francesca

Live intentionally

Ps. 90:12

@Anthony Angotti, " property management" class ....hadnt thought of that. Great Tx.

@Steve Babiak,

That's gold right there, thank you so much for info on DIG.  As well As clarifying on PAR lease. 

Thanks Matt,

I will add that to my " to read"  list,

Thank you. Yes, I'll be searching for REI meetups and will look into VA laws....the state the property is in.

Tx for taking the time ....

Help!! I've put an offer on my first real estate investment ever: a multifamily home.  Pending inspection, I  may have it by end of June.   I've been reading and listening to podcasts but feel like I should be "trained" in the "trade" or something....the info is all in my head but I'd love it if there were an "investor" school....I considered real estate courses but now I need to get busy cleaning it up to rent...

How can I best prep. for the job ahead of me??? any seasoned investors in the King of Prussia, PA area???:-)

francesca