All Forum Posts by: Jonathan White

I just read of a new update to VA loans where the VA CAP is no longer for veterans. Blue water act or something. I do not know the ins and outs but it is hot off the press. Check it out. You can buy VA as soon as you get orders. Just find the right lender. All are not created equal. I used Kris Hughes for Kenai, Anchorage business. She is in it to win it. I also use Arron Swanson Kenai and he makes cash out refi simple.

Dolly,

Msg me your advisors contact info.  I would like to make contact.  Thank you

Jonathan

I agree and Turbo Tax guidance on the QBI is wishy washy for sure...

I plugged it in using it and not using is and it made no difference in my return???  I also plugged in assets using std depreciation and 179 and it also made no difference. I have a large loss as compared to income due to doing allot of remodel and upgrades so maybe this is why?  The system told me to take the 24K deduction while me loss is about 50K.  I assume that is why the changes did not impact the bottom line....(Max'd out on deduction/loss?) 

I am looking to stop doing my own taxes and need to find a great Tax Advisor ASAP. Most property is in AK so curious what or who is out there in AK. Not looking for just any CPA or Tax Advisor. One who specializes (extensive knowledge) in REI stuff. Thank You

Hi I have used Kris Hughes for MF with Homestate Mortgage.  Very Make it Happen minded and very aggressive in terms of keeping realtors in line.  I will use her again.  

Hi, I have a 4 plex under contract and all was well until Insp identified septic tank leak.  They have a concrete tank.  Bids to replace are between 18-25K.  In their amendment to the sale agreement, they stated they will repair leachfield and tank to DEC specs and keep June rents.  If they cant repair the tank, I will cover the entire cost of project and June rents will be prorated. and the sale price will be adjusted to cover the cost.  No need to tell me this is crazy...I know.  However, they are not budging. Going through realtors makes it impossible to get straight answers and transparent data on their quotes, expert opinions etc, expectations of costs they are willing to put forward etc.  Before I walk away...I am willing to raise my sale price to "help" cover some cost but definitely not 18-25K?   Maybe 4-7K?  Has anyone had experience in this type of negotiation tactic by a sellers agent?  By the way, they tried to have me sign amendment twice with other repairs getting me to cover the cost of repairs in creative ways...(sneaky).  With some E-sign programs, it could easily happen the way it jumps form signature block to signature block.  Details:  Asking price 250.  Offer accepted 245.  Home Inspector repairs agreed to were mainly some electrical and egress windows (3500 material cost and 2K labor).  I covered 1500 of this cost....then we had the septic inspection.  Report says monitor tube installed does not go deep enough into the tank so full validation cant be performed.  Water test shows a leak somewhere causing levels to drop 7 inches over 24 hrs but remain at that level.  Seller has had no known issues disclosed.  Engineer insp report says leachfield could not be tested.  I know a new system will add value and is required.  But to what extent is it worth for me.  Cash flows (provided by seller) are good.  I have asked for all the data they have but have not received it yet and may not get it.  Curious about creative ways to help them feel like they have a win, I cover some cost but not that much and end state: get a new septic system and close this deal.  They are selling it at a good price and I am paying winter rate.  I feel if I back out, they will remarket it, raise the price $20K and still sell it easily.  It is worth 300K market comp value.       Just curious of others stories or thoughts.  Thanks        

I have been listening to allot of Claytons Podcast and you-tube videos lately.  I am surprised by what I read in the forum just because they way Clayton and his wife talk up their turnkey business opportunity and how dialed in it is.  They sound like the real deal and are very convincing.  Like mentioned previous, I would call Clayton direct by phone, emails to all his websites, put posts on his web or youtube site and or even show up where he attends investment seminars to try to get through to him.  It could be possible he thinks everything is running well and needs transparent blunt feedback that it's not and fire a few folks.  You can only hope he is a good person and stands by what he says and sells and will right this wrong for you.  Another avenue is to listen to his podcast guest and contact some of them if you cant get through to him.  Surely they maybe able to contact him and ask him to call you.  The bigger people get, the more they may not know what is happening right under there nose.  I hope this is the case as compared to another hyped of scheme to lure suspecting good hearted investors into a deal that is not what it was lead to be when they were trying to sell it to you.  Please keep your status posted...I need to know if I should stop supporting his cause.  

Good luck.        

Fellow Alaskans, 

I am buying a fourplex and am on the fence between using it as an Air-BNB type rental, or a month to month rental to businesses or std long term rental. What insurance companies provide short-term rentals (Daily or monthly) insurance for Alaska properties and how do they compare on rates?  I called several listed in forums and several local but they do not cover AK.  I called several referred AK companies and some want a commercial policy which I do not need or they just won't return calls or send quotes when they say they will.  I am curious what others are using....Thanks in advance   

Chris and Chris

If your willing to do long range, Fairbanks has some good cash flow deals. Rents vs Market Prices seem to be much better than Anchorage or Kenai Penn. I am buying a 4 plex in Kenai right now (should close in a few weeks assuming inspections go well) but afterwards I will be looking at Duplexes or off market SFRs in Fairbanks. But if you use your VA loan (recommended), just buy in Anchorage or the valley if the cash flow works. VA loan for Anchorage is capped at $600K + due to it being a higher cost of living. Allowances are a lot higher than the Std $453K cap or whatever it is. I only learned this because I have a VA loan and am looking to use another at the same time and my banker (Kris Hughes & Homestate) informed me of the AK VA amount increase. So I can use a loan entitlement not to exceed the amount of my first property balance with the new property amount. Better to use it or another 1st time homebuyer program so there is little downpayment now before rates increase. Overtime, Anchorage values have done well. I would say it is hard to go wrong buying for a long term investment. At least from my experience over the years. I made a mistake in 2010 when I sold a house I lived in due to the flat market. My rents would have been 100 less than my payment after using a mngt company. 2-3 years later the home increased 25K in value and now it worth alot more and the rents are 500 more than what my payment would have been and climbing. Bottom line is over time, AK does well with equity and rents increases. Buy soon before you have to PCS in 3-4 yrs so you can get your foot in the door and it will make it easier or more comforting to rent went your gone. I spent many years stationed in AK and I have met so many people that did not buy and regretted it later. But buy smartly to maximize return if possible. There are a few 4 plexes in Wasilla now for a decent price, detached garages and not very old. If I was not buying south right now, I would be looking at those. They are on the MLS

Hello, I have been preparing a property in 2017 to rent; however it is just about now complete and ready to rent (2018).  Since I did not actually rent it in 2017, can I deduct expenses to get it ready on my 2017 tax return?  I had hoped to but I fell behind on fix ups.  Any (quick) replies would be very helpful...I am coming down to the wire on filing my taxes.  Thanks in advance