All Forum Posts by: Japnik Singh

@Wesley Pittman. i have changed the strategy and now looking for single family homes. saw few condos less than 250. they were terrible.

https://www.biggerpockets.com/forums/517/topics/1141818-look...

I am keen on acquiring two single-family homes that align with the following criteria. Looking to invest about 1 mil here:

Short-Term Rental Permissibility: The properties must allow for short-term rentals.

Rent-to-Value Ratio: While my immediate plan is to venture into short-term rentals, I foresee transitioning to long-term rentals, possibly within the next year. Therefore, a favorable rent-to-value ratio for long-term rentals is crucial. Which areas around reno do you guys think I should focus on? what do you think is typical rent to value ratio in reno sparks area. ( assume monthly rent/property price)

Building-to-Total Value Ratio: Ideally, the building value should comprise at least 70% of the total property value. A higher ratio is even more desirable. looking to get maximum deprecation for this year.

HOA Fees: I am open to properties with small homeowners association (HOA) fees, specifically, those less than $100ish per month.

New Construction : based on my research new houses and old houses are selling for pretty much the same price for similar config. I would obviously prefer new construction in that case.

Bedroom Count: A higher bedroom count is preferred. For instance, if a 4-bedroom property is priced at $500,000 and a 3-bedroom at $450,000, I would opt for the 4-bedroom. However, if a 4-bedroom is priced at $600,000 versus a 3-bedroom at $450,000, the latter would be more suitable. A marginal price difference would not be a deal-breaker.

Please let me know if you can help me out on this and also criticize the points I mentioned above.

Hi everyone, I am looking for a short term rental property in reno/sparks and adjacent areas. Something under 250k would be ideal. I can go upto 400k if needed. I can also partner with other people on this. I have cash to close the deal as soon as possible.

Hello, Real Estate Enthusiasts!

I'm at an exciting juncture in my journey towards becoming a real estate professional. While I'm all in on this new career path, there are a few things I'm still trying to figure out. Particularly, I'm looking to offset deferred W2 income from a previous employer (I don't work any hours there currently) with real estate depreciation and operational losses.

So here are the questions I'm grappling with, and I'd truly appreciate your expert opinions:

1. W2 Income and RE Professional Status:
   • Can you qualify as a real estate professional while still receiving deferred W2 income from a previous job?
2. The 750-Hour Requirement: Strategies and Tips:
   • How do you recommend accumulating the required 750 hours of real estate activities?
   • Do tasks like preparing for a real estate license, commuting, and researching properties count toward this time?
   • Does research time that ultimately leads to a property purchase count?
   • What about time spent managing tenants, say on Airbnb?
3. Active Losses and Income Types:
   • How do active losses from real estate investment typically offset other types of income? Do they tackle W2 income first, or passive income like dividends?
4. Year-End Property Purchase and Depreciation:
   • If I buy a property on December 31, can I still claim depreciation for that year?

I'm committed to working full-time as a real estate professional and will have my first property soon. I want to ensure I'm following all guidelines and not missing anything crucial.

Your insights will be invaluable to me, so please drop your thoughts and advice in the comments below!

Thank you for your time and expertise!