All Forum Posts by: Gokhan Tektas

Thanks for your very clear feedback. Highly appreciated.

Does that mean I can deduct this loss from any rental profit from any of my properties or should it be just deducted from the same property income in the future year?

Gokhan

Hello All, 

Hope this message finds everyone of you doing well! My question is simple and I hope some of you had some experience on that.  

My wife qualifies as a Real Estate Professional (REP) in 2024, but she did not qualify as a REP last year, and our rental losses were passive in prior years. Can I deduct prior year unallowed passive losses against my W-2 or active income, or are they still limited to rental income?

To simplify: Since my wife is a REP only for 2024, is the rental loss I can deduct from my W-2 limited to 2024 losses, or can I also deduct the passive losses carried forward from 2023?

Regards

Gokhan

Thanks Derek, Yes. I just looked at MLS and I could not see any good option in IL. Safety is very important to me as I will be moving with my family.

Is there any location that you can recommend from IN?

I really appreciate that.

Gokhan
 

@Paul De Luca

Thanks Paul, highly appreciated. My primary target is appreciation. I have a sustainable W2 job so I can manage my finance. However if I can find a very good deal which can offer me both : Appreciation + Cashflow, it would be fantastic. 

I want to apply to traditional mortgage, so I want to avoid extensive rehab but cosmetic upgrade should be fine. I am going to live with my family so I will be looking for privacy too. Old monster houses would not work for me. 

Thanks for your advice. I will explore Homewood, Glenwood, and Lynwood as suggested.

Gokhan  

Hello everyone,

My employer asked to move to IL (Manteno). They have a new location there.  I am looking for house which is 40 - 50 min drive distance from Manteno. I do not have any problem to drive to commute. But I am looking for a A or B+ class neighborhood to invest. I am considering buying a small multifamily house for house hacking. 

Is there anyone who knows this area?  Pls  advice me about which location I should focus on. 

My budget is maximum 350 - 400 k$. My priority is appreciation of the property.

Thanks for your advices.  

Thanks everyone for your advices. Highly appereciated. I had the opportunity to read the comments from previous posts. I will take into consideration all recomendations seriously.

Hello, I am located in CA but I have just recently bought a townhouse in Chatlotte/NC. Zip code is 28227.

Is there any good property management company that you work and happy with in that area?

pls share your experience with me.

Your help will be highly appreciated.

Thanks

Gokhan