All Forum Posts by: Jack Srimani

Thanks J Scott for letting me know the difference. I appreciate it. Thanks David for your feedback. The seller is a developer of property (maily) flips. Then he sells those after renting the units for some time. One thing that is bothering me is that in the schedule E he is giving his company name as ... Property Development and he has scratched off his social security number. However to my understanding a SS number is issued to an individual and not a company. This is raising a red flag. Also in the schedule E there is no tax entry in the line. This is making the profit inflated. I am not sure if you can ignore the tax line altogether when you have paid the tax. So any feedback will be highly helpful.

Hi,
I would like to know under what circumstances does one file for 8825 vx. Schedule E.

Also I just got a schedule E from a seller. However in the tax line of the form there is no entry. The profit is being shown without the tax entry. Is this possible not to show tax in schedule E? Also how would I know that the numbers are correct and not manipulated. I appreciate any help. Thanks

That sounds like some work. However it seems you are pretty much managing well enough with too much hardship and saving some good money in the process. Thanks for your input Michael.

Thanks folks for the help.

Thanks motiv8td. The property is not in Phoenix area. I will be looking next in your area. I will contact you at that time.

Hi,
I am considering purchase of four unit property, Currently I am going through price negotiation. This is a renovated fourplex with rents of two for 550 each and rents for other two are at 600 each. Each owner pays their own utilities. Now the two percent rule leads to maximum purcahse price is 115000. (Total rent * 50)

When I checked zillow I am seeing the average price of SFH in the neighborhood is 35000. Now with that scenario I would like to have experts' opinion to see if you had this situation will the neighborhood house price influence your decision to make offer of this property? I need some advice on this. Also does the neighborhood price going to influence the buyer when I decide to sell.
Thanks

I have been looking for property for sometime and did not find anything even after searching for long time. May be I need to look at Indy. Thanks

Hi folks,
Apparently there is not much of major expense for this property as everything seems to have been redone. However the assessment for this property is 97000 while the apprisal is 125000. With the offer price of 115000 the seller is still not budging. I am wondering if I should go little more (may be 120000 max) or walk away from it. Does the assessment or apprisal value have anything to do to influence the offer price. I would appreciate any feedback.
Thanks

Thanks Kathy. I appreciate it.

Hi,
I have read discussions in this forum that rental investment in Phoenix area is fetching good ROI. I am based in Illinois and would be interested to invest in multi unit property in Phoenix if ROI is good for multi unit. In order to do research which site I should look for investment opportunities in Phoenix area? I appreciate any feedback. Thanks