All Forum Posts by: Jason Barnett

Welcome Joe. My wife and I sold our house in Richmond CA and moved to Memphis to invest in real estate and just live a different life style. One thing we've discovered living here is property values change block by block...Litteraly. We bought a duplex and the value of basically the same building accross the street is 20% higher. So be sure to do your due dilligence and feel free to reach out if you have questions.

Jason

@Brandon Hall Hi Brandon. Where is the addition of expenses to the basis in the IRS code? Is it in Pub 597 or elsewhere? 

Thank you,

Jason

@Rick S. Do you mind if I PM you? I've got a tenant asking to report their on time payments and I'm hoping one of the links you have might help me do this for her.

Hi Rick - I live in Richmond a little farther north and we were Airbnb hosts for a year. We got a lot of people who were happy to be close to BART or that were just staying a single night. We stopped since we had a family member move in but it was a good experience however it wasn't consistant. Also the city has recently gotten more strict on short term rentals so there are now license fees and taxes involved so I agree with John D and would go with a long term tenant if possible. Lastly Richmond is the last affordable spot in the bay area and people are starting to realize this. Add the fact that Richmond will be getting a ferry to San Francisco next year (making it a 25 minute commute) and there is potential for appreciation.

@Jason Chen Thanks Jason..I'll look into the Ferrari when I get out there LOL

Hi BP

So I’m working my way through all the podcasts (listening at 2X so everyone always sounds REALLY excited) and many topics and lessons all come back to “relationships”. So I’m looking for opinions on building relationships with lenders. What has been your experience working with small, local banks where depositing $150K would garner some attention. What were your experiences working with a regional or national bank where you would probably be just another number but might be offered better terms? What are your thoughts on establishing a relationship with a local lender even though you wouldn’t be “local” for another 12 to 18 months (see my questionHow soon is “too soon”)?Any thoughts or ideas would be appreciated.

Thanks, Jason

@Jim Cummings Thanks Jim. I listen to Kathy's podcasts...Don't know why it didn't occur to me to check out her site.

@Larry Fried Thanks Larry. Do you have any suggestions as to sites I should check out outside of BP?

@Ingrid J. Sounds like you've done your homework. My criteria were slightly less stringent...Had to be growing, no state tax, and no snow. This left Texas and Florida (both of which are growing) but I think I've already missed some of the growth in Texas so Florida had more opportunity. When do you think you'll be moving? 

@Carolina Solorzano That's a great idea on finding OOS REIA clubs. That would be a good way to figure out how to learn what I need to know before I get there. Would have never thought of that so thanks!