All Forum Posts by: John Tran

Hello BP, I need to utilize cost segregation to offset my 2023 W2 income.  I still have until Sept 2024 to do that if I file extension right?  Can someone recommend a real estate CPA and cost segregation company in the northeast Atlanta area?

Thank you for any help

 Hello Chris, have you found a CPA to work with?  I am also from Flowery Branch and looking for a real estate CPA to work with.  Any referral is appreciated.

Great suggestion everyone.  Thank you all.

 Do you require them to show renter ins prior to move in or do you just include the requirement in the lease?

 Haven’t seen the Sopranos, I was going to tell the tenant that our tree  is not Paulie Walnut tree. Good thing I googled Paulie Walnut.   
Does having the clause in the lease require tenant to purchase renter ins and hold the landlord harmless from things like this hold up in the court?

My tenant's just told me a walnut from a tree in the front yard of my rental house fell and crack her car's back windshield.  She wanted to know if I will pay for it.

In the lease I specifically spelled out that damage to tenant's property on the premise is their sole risk and advised them to obtain renter's insurance.  The lease also spelled out that tenant will hold Landlord harmless from any such claim.

Before this tenant moved in 6 months ago I actually had several large trees around the house cut down for safety.  If this walnut fell on her car it must have been blown over from a tree that is not near the driveway.

She got a quote for $405.  Whether she will try to claim this repair with her auto ins/renter ins or not I'm sure it's gonna come out of her pocket anyway since $400 is about the cost of replacement for a rear windshield and deductible probably will result in it being out of pocket.

I can just tell her that I'm sorry but my ins won't pay for it (which I believe is the case)  I also don't think I'm liable since its not a negligence on landlord's part.  I can offer to help her half but then don't want to make it a habit and next time something happen she would expect me to help out.

Just want to see what BP thinks.

Thanks 

John

Hello all,

I want to look into tax lien sale and have a question regarding protecting your investment during redemption period.

I am in Georgia.  Here there is a 1 year redemption period during which I can't do anything to the property.  What if I purchase a house and during that redemption period the property get damaged or totaled?  What should I do to protect my investment?  If the house is totaled and the previous owner doesn't redeem the property I will end up paying a lot for an empty lot.  Scary!!!!

Thank you for any advise.

John

Maybe its a GA thing. All of the CU I called do not do HELOC for investment properties.

 Thanks Corby,  I will call the local CU and regional banks.

What I meant to say is for rental investment they don't do "free" HELOC. What they offers us is a HELOC but it's not free :(