All Forum Posts by: Ihor Onyshchenko

Hi Christine, my wife and I are focused on midterm strategy since 2019 and run our rentals in Rutherford county. Your house in East Nashville would complement our offering to insurance agents, adding broader choice of locations. If you are interested, we could discuss a possibility for us to manage your house as well. Feel free to call/message me at (615)238-5800

@Nicholas Aiola I have an S-Corp. The S-Corp has several activities. One of them was passive (partnership in the apartment syndication)

I am trying to figure out how to document it correctly. In the previous year, the S-Corp participated in the syndication and paid $75k. The syndication sent me the K1 with a passive loss of 65k. I understand, where I should deduct the $65k. But I can't figure out where to subtract $75k. I can't subtract it from the ordinary income of S-Corp 1120s, it doesn't qualify as any deductions(it doesn't relate to the main activity of S-Corp), So the best I was able to come up with is to put it in Other Deductions in K-1 line 13 with code "L". Now as far as I understand, I can move it to 1040 Schedule A line 16 Other Deductions. 

Does this sound correct or am I completely in the wrong direction?

Quote from @Alex Kohler:

Hi there! 

I am new to BP and have a few questions as I am a new investor. I have $150,000 cash and my goal is to become financially free as soon as possible with having all expenses paid with cash flow as well as growing my wealth. How would you go about allocating these funds. Also, what areas are the best for house hacking/rental properties? Would you buy multifamily or single family?

I would buy multi family 2+ units with 20% down. 

or single family home near hospital or tech hubs and rent it out on Airbnb . 

I owned an Airbnb in such location before but I didn’t get to multi family yet. 

Quote from @Malcomb Stapel:

@Ihor Onyshchenko  proof would be the tax returns you have on file after the first year of ownership. 

Right, I understand that. What I want is the income from the property ( that I am about to buy) would be also counted towards my income when applying to financing for that same property.  

Hi everyone! 

I am planning to buy a multi family property in Reno, NV and i am curious to know if lender will count rent income from the property. 

I am planning to occupy one of the units and i am hoping that income from 3 other units can be counted towards by income. 

I read that usually lenders consider 75-80% of that income. The weird part is that it usually states that i have to provide the proof of that income, but how can I prove if I did bought it yet? 

Have you done something like that? 
Also, what do you think about Reno? 

I am currently a resident of California. I am purchasing a properties in OH and TX.

I would highly appreciate if someone can refer me to a Real Estate CPA that can cover at least one of these states.