All Forum Posts by: Jason C.

@Caroline C. Do you have specifics? For example, what's the best way to hold your assets until you see an RE deal worth doing? The saved money can be put to work immediately rather than just sit as cash until a deal comes around. It seems that having savings in a brokerage accounts is the most flexible. You can liquidate in the future relatively easily and use that in real estate. Is that what you do?

Has anyone combined FIRE (Financial Independence Early Retirement) and REI into their investments? If so, what strategies do they use to save to invest? How do you allocate towards two different investment vehicles?

Background: I saved the down payment of my first rental property for the last two years. (Thanks BP!). A few months ago, I came across another investment vehicle for financial independence by the FIRE community. They advocate low cost index funds, through before and after tax accounts. They reduce their expenses and invest in IRAs. They use the 4% rule (25 x annual spending), to determine when they can retire early and live off investment income. Anyone on BP done both? Any strategies how someone can use both?

@Ashish Acharya First, thanks for the quick response! Yes, I do deduct everything else normally. I guess my CPA is saying that because I do not manage the property myself, I hire a property management company to do it for me.

I looked at the IRS section for travel expenses. They only list travel expenses as deductible for rental activities, activities directly related to the property. But I intend to consult with a CPA out of state, where the property is not located. Does that still apply for me?

Hi everyone, I have a rental property under a single member LLC, so I filled schedule E this year. Hoping to get more clarification/ideas how this travel expense might be deductible:

Meeting with a CPA in another state, where the property is NOT located. My intent is possibly select this CPA to do my taxes for next year. Is this considered a business trip? Are flights, meals, travel expenses deductible in this situation? Creative ideas how might it be deductible?

Thanks in advance!
(note: I did ask my current CPA. They said this is not because it is consider passive rental activities. I want to double check their advice.) 

What was the ARV? Did the refinance cover all the rehab costs at the end?

Wouldn't most conventional loans turn away from properties that need a lot of work?

I'm thinking about using this strategy for my next deal. I plan to live in it and decide later on whether to sell or rent. Would the analysis be the same as for BRRR? Apply the 70% rule for this to work? What type of financing can you get with this? I'd like to refinance within a year to recoup repair costs, closing costs, down payment, etc. How would you get this strategy to work?

Any thoughts on this would be greatly appreciated. 

@Matt J.
Great post! Interesting combination of strategies. New REI and BP, so learning lots. New to BRRR and flipping as well.

I'm thinking of my next property using this strategy (and I need a new place to live!). Could you detail out your analysis? Lenders/financing used? How well would this strategy work? Would this use the same calculations as with BRRR? How does BRRR change if it becomes a live in?

My goal here would be to find a fixer upper, learn about rehabing, live in it (not sure how long), cash out refi (within 1-2 yrs) to recoup down payment, repair costs, closing costs, etc., and then later hold as a rental or sell. Multiple options and exit strategies here.

Thank you all for the recommendations! 

Hi everyone new to the forums here at BiggerPockets! I'm about the close on a rental property in the Lakewood area (80226). Unit is a 2/1 Condo. Looking for any referrals for property management that suits this asset class. Please leave their contact info and why you chose them over other companies.

Thanks in advance!