All Forum Posts by: Joe Capobianco

I bought my primary home in may and this is the first time I’m going to be filing my tax returns that’s more than just my income from my job. I usually go to H&R block but wanted to try to find a local accountant to help me with this. I wanted to know from other home owners if it’s worth it going to a local accountant or just quickly go to one of these franchises? I assume an accountant will be more expensive but will be more detailed as H&R Block is a quick in and out and I feel like I’m not getting my moneys worth.

this house also has been that seem to be trees literally cut down the middle and placed As support beams. I don't know how to explain it but I do have a picture from my phone. Just wondering if anyone else ever seen this before. My using my phone to post this and it's not letting me Post my picture. I can email it to anyone if they would like to see

@Bill Gulley wow thank you very much, the perimeter of he house is all brick so I'm glad you added that in there with the sandstone. i have looked into the electric, which is all bx and Romex with two new circuit breaker panels. Both sides recently remodeled. (I do not know what surprises lurk behind the Sheetrock)

The flooring was done before putting up for sale, if he inspector doesn't see any immediate problems with the flooring where its a hump would you recommend ripping up the floor anyway? I think it is just laminate flooring anyway

@Jeremy Pakalka@Brent Coombs@Anthony Gayden@Jeff Filali@Mike H.@Bill Gulley@Ryan Dossey

thanks for the advice guys i really appreciate it. im looking at a 2 family home that doesn't need much work but i am concerned about the integrity of the home. being that the house is 100 years old it settled and you can feel little humps in the floor in 2 parts of the house (only downstairs though). at first this was a big turn off for me but after noticing this in multiple older homes and seeing my girlfriends sisters renting a home which actually bends towards the middle upstairs i'm starting to think its normal and shouldn't be a problem. 

am i wrong for thinking this? multi family homes are hard to find around me without going into lower class dangerous areas and nearly impossible to find one that's less then 70 years old. 

do you guys focus much on the foundation of the home? or as long as its structurally sound with no issues besides age you would go for it. i feel like i'm over analyzing these homes and straying away from things that are not as big as they are in my mind and getting caught up in analysis paralysis. 

@Nick B. i have $40k in savings and $10k in cash reserves in my IRA i can pull out. how do i go about getting into apartment syndications? i dont know anything about syndications but if i had to guess is it just having multiple partners in a single deal that put there money into a pot to invest?

in the latest podcast I've listened too and webinar i watched i remember hearing the quote that "every house is a deal at a certain price" and i have a few questions about this quote.

i'm not sure if i am overthinking thinking this or simply not understanding what "every house is a deal at a certain price" means. i'm thinking they're saying if i can buy a home below market value, fix it up, cashflow with rents at market rental rates then its a good deal but what is stuck in my pessimistic mind is. "what if nobody wants to rent the home?" whether its because of location or local school systems? 

when i'm looking for potential buy and hold properties i'm looking at the surrounding homes that have recently sold, how close the house is to major highways or train stations, and local school systems. 

am i over analyzing or should i go for a house in a C neighborhood if i can buy and rent at market rates and still cashflow? 

i just question "if i have the rental, will the renters come?"

The town I currently live in is having a property tax revaluation within the next 3 years. A neighboring town I was looking to by a duplex in had this done this year before I offered a price on the house and the revaluation was the exact reason I didn't put an offer on the house. Was I wrong for getting away from the duplex since I didn't know the new property taxes? At the time I didn't think, "if the taxes rise so do rents". All I thought was if the taxes rise then people go somewhere else. Tell me if I'm wrong which I'm sure I am. I see locals worried about the tax rise and having to move out of town now. Would this be a good opportunity to find motivated sellers? Or due to the tax hikes should I also look elsewhere for a deal in a cheaper town? I assume that if the taxes rise for some then it might motivate more people to jump to renting as well? I'm stuck in the analysis paralysis phase and I need some advice to get this real estate train moving. Thanks in advance

Kevin Siedlecki this isn't near a college or in a downtown area with bars shops and restaurants. Blue collar neighborhood with a lot of bars in the town itself. It's a little tavern right next door. Nothing compared to the franchises like T.G.I. Friday's or mjs. The homes are all fairly close to eachother and the only thing dividing the home with the bar is the driveway. I wasn't sure from an investors point of view if this would scare off tenants

I recently found a turn key 2 family property for sale that caught my eye but figured before I call the realtor to get inside I wanted to see what the neighborhood was like. First thing I noticed was there was a bar right next door to the home. Is this a turn off to you guys as investors? Does this scare away potential tenants with children or attract the wrong type of tenant? Or do you focus more on the attractiveness of the home itself and not focus on the neighboring bar?

i have been searching for 2 family homes and realized most of them are pushing 90-100+ years old. i was wondering from other investors what your experiences are with homes of that age? i've already looked into a couple but didn't get further then inspection due to foundation issues. the homes are sagging in the center. should i keep away from homes this old? should i find a deal good enough that this can be resolved with a structural engineers help?