All Forum Posts by: Jeff Ostreim

buy and holds ideally

Hello everyone.  I'm looking to broaden my investment portfolio in the snohomish and skagit county areas of Washington state.

@Linda Weygant Good point I did receive 10 days of rental income.  Sounds like I do need to do my taxes for this year after all.  I did inherit tenants as well.

@Wayne Brooks what are the going rates for most CPAs and what kind of services can I expect from them?

@Lance Robinson it's just in my name. For HUD write offs are you referring to any points paid on the loan?

I was hoping someone could answer the questions before I decide to actually hire a CPA.  If I don't need one this year it would give me more time to make a choice of who I would want to hire.

Hello everyone.  I purchased a 9 unit apartment on 12/21 of last year.  I have a few questions regarding taxes and depreciation.

1.  Do I need to file taxes for the property when I didn't earn anything the first 10 days?

2.  If so do I need to start depriaciation?

3.  Also, would I depreciate the property as a commercial property since it is 9 units. I have heard that I would depreciate the property for 39 years instead of 27.5 

Any help on answering these questions would be greatly appreciated!

who are some small banks you could recommend in Washington as portfolio lenders?

very useful post!

Thank you, @Alex Chin.  Lakewood is a bit of a drive.  Do you know of any meet-ups up north?